Weekly Positions Update - 03/09/08

Ouch :)

A tough week, no doubt about that. They don't come much tougher.

A couple of bright spots I'll pull out:

• I'm out of all non-currency positions, albeit after a sharp hair cut
• I managed not to lose all the money I made the week before

Selling is tough. Buying is much easier - and when things are going up, you don't want to sell. Who knows how high things could go? So I believe you have to wait for the down turn. And manage to get out before you give all of your profits back.

So I sold earlier than I normally do (I normally wait for a 15-day low...my week would have been much worse if I had waited for that...I'd still be holding many positions, in fact). Just had to get out, and I thought this correction could be nasty. I have to admit the magnitude and velocity of it was shocking - I was caught flat footed on a couple of positions, and got out later than I would have liked. But at least I'm out, and will live to trade another day.

Open Positions

Date	Position	Qty	Month/Yr	Contract	Strike	Call/Put	Entry Price	Last Price	Profit/Loss
02/28/08	Long	1	MAR 08	Japanese Yen			0.9501	0.9786	$3,562.50
01/02/08	Long	1	MAR 08	Swiss Franc			0.899500	0.9796	$10,012.50
03/07/08	Long	1	MAR 08	Swiss Franc			0.978400	0.9796	$150.00
Net Profit/Loss On Open Positions:									$13,725.00

Current Cash Balance	$107,716.73
Open Trade Equity	$13,725.00
Total Equity	$121,441.73
Long Option Value	$0.00
Short Option Value	$0.00
Net Liquidating Value	$121,441.73

Cashed out: $5,000.00
Total value: $126,441.73

Weekly return: -15.6% (ouch)