Great Stuff Xaritas.
That's basically the kind of thing I was asking near the top of the thread. Whether UGL and DXD were even the proper vehicles to use.
It seems that the main difference you are getting is in the performance of short SPY vs long DXD. Keep in mind however, that those of us trading within an IRA (like me) can't short anything. Therefore, short ETF's are the only option.
When I was first musing about this back on the old blog, I hadn't decided whether to use the 2X approach with UGL+DXD, or whether to stick with DGL+DOG instead. I'd appreciate your thoughts on this, Xaritas.
Oh, and also you are comparing long DXD vs short SPY. You may have introduced some variability there. Why not long DXD vs short DIA? Apples to apples.
Actually, FSG is looking better and better to me.