The Stock Market: Week ending 2/6/09

So the summary for the week is as follows: The Dow closed the week at 8,281, which was up 280 points or 3.5% from the previous week's close. The Nasdaq closed at 1,592, which was up 116 points or 7.9% from the previous week's close.

Here's a summary of the stocks I have bought and where they stand at week's end:

TNA was purchased on January 21st at a price of $23.36 and today it closed at $27.89 for a paper gain of 19.4%. SSO was also purchased on January 21st at a price of $21.57 and today it closed at $24.25 for a paper gain of 12.4%. I also sold TZA on January 21st as well as SDS. TZA has dropped 26.7% since my selling of the stock and SDS has dropped 15.9% since the selling of the stock. It seems the strategy of buying the ETF Ultra Longs near the bottom of the range of the Dow, S&P500 and Nasdaq Indexes, is paying off.

Additionally, my purchase of Apple stock, symbol AAPL, on January 7th for $86.50 and additional shares at $78/share on January 14th, has had a nice paper gain closing today at $99.72/share. That's a paper gain of 15.3% and 27.8%, depending on which dates the stock is purchased. My average purchase price is $83.50/share.

Disappointing has been my purchase of Ford Motor Co., symbol F, with an average price of $1.90/share back on January 24th and January 28th ($1.80/share and $2.03/share).

Much depends on what happens to the vote on the Stimulus package which looks like it will occur on Sunday. If there is a semblance of bipartisanship, it would be a good thing for the country. The The Unemployment report today was an eye opener. It showed unemployment at 7.6%, with 598,000 losing jobs this past month. This may have put the necessary fire under elected officials.

Watch my post on Sunday night and Monday morning pre-market to get a sense of the upcoming week.