Monday, May 19, 2008

Weekly Positions Update - 5/18/08

Hell, I really took it on the chin last week, particularly toward the end of the week. I wasn't sure what to do - so I figured when in doubt, get out! Nothing seemed to be acting well - corn especially appears to be a disappointment. I'd rather sit on the sidelines and reevaluate, rather than do anything stupid based on emotions.

I'm comfortable enough with these position sizes to be able to withstand some volatility. I still believe in the bullish case for meats, and want to make sure I'm around and in the game for the upcoming rally.

Open Positions
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss
04/30/08 Long 1 OCT 08 Live Cattle 104.350 105.550 $480.00
05/08/08 Long 1 OCT 08 Live Cattle 105.350 105.550 $80.00
05/09/08 Long 1 OCT 08 Live Cattle 106.700 105.550 ($460.00)
05/14/08 Long 1 AUG 08 Pork Bellies 82.950 78.350 ($1,840.00)
Net Profit/Loss On Open Positions: ($1,740.00)

Account Balances
Current Cash Balance $109,123.09
Open Trade Equity ($1,740.00)
Total Equity $107,383.09
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $107,383.09

Cashed out: $10,000.00
Total value: $117,383.09

Weekly return: -9.6%
YTD return: 50.9%

***BTW, I usually "cash out" money just to pay taxes. So total value is all pre-tax. Going forward, I'll be cashing out to pay for rent and beer also.

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