Sunday, June 22, 2008

Weekly Positions Update - 6/22/08

Sticking with the rules here, I'm now into cotton and sugar on their respective breakouts. Still like the live cattle and added some longer dated contracts this week. Will probably not add to this position, as it's heavy enough.

Got scared out of corn early - I ended up selling at the break even mark. Wheat is now breaking down a bit, as are the rest of the grains. Time will tell if this is a breather, or if things were overdone during the past breakout. I'm leaning towards breather, as I think things are worse in the Midwest than many believe.

And how about coffee and it's 7-cent pop on Friday...don't we wish we were in that one :( Well prior to the breakout, it was the pure definition of range bound. So unless you caught it right on the breakout, it's really tough to kick ourselves over missing it. Hey, if it's really heading higher, we'll have plenty of time to get into the trade.

Open Positions
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss Market Value Action
06/17/08 Long 1 DEC 08 Cotton

82.20 79.99 ($1,105.00)
05/08/08 Long 1 OCT 08 Live Cattle

105.350 112.100 $2,700.00
05/09/08 Long 1 OCT 08 Live Cattle

106.700 112.100 $2,160.00
06/16/08 Long 1 DEC 08 Live Cattle

112.750 113.600 $340.00
06/19/08 Long 1 FEB 09 Live Cattle

116.200 116.100 ($40.00)
06/18/08 Long 1 OCT 08 Sugar #11

12.88 13.00 $134.40
06/11/08 Long 1 SEP 08 Wheat

867 3/4 873 1/2 $287.50
Net Profit/Loss On Open Positions: $4,476.90

Account Balances
Current Cash Balance $85,680.27
Open Trade Equity $4,476.90
Total Equity $90,157.17
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $90,157.17

Cashed out: $15,000.00
Total value: $105,197.17

Weekly return: -2.7%
YTD return: 34.5%

***BTW, I usually "cash out" money just to pay for taxes, rent, and cheap beer. So total value is all pre-tax.

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