Keeping the faith here - strategy has been right generally on these trades, just poor timing. Ah well, it happens. I am re-evaluating my entries, as they have not been serving me well over the past few months.
Tried the short side of the grains market with the short on mini-corn, and that worked out well. However not enough to counter the bearish move in sugar. It looks overdone, and I hate to sell sugar at 12 cents - I mean, we're below the cost of production here.
Also keeping an eye on the meats. Looks like live cattle may be forming some sort of base here - we'll see.
| Open Positions |
| Date | Position | Qty | Month/Yr | Contract | Strike | Call/Put | Entry Price | Last Price | Profit/Loss | | 06/17/08 | Long | 1 | DEC 08 | Cotton | | | 82.20 | 72.83 | ($4,685.00) | | 06/18/08 | Long | 1 | OCT 08 | Sugar #11 | | | 12.88 | 12.34 | ($604.80) | | 07/01/08 | Long | 1 | OCT 08 | Sugar #11 | | | 13.90 | 12.34 | ($1,747.20) | | 07/14/08 | Short | 1 | DEC 08 | Mini Corn | | | 688 | 611 | $770.00 | | Net Profit/Loss On Open Positions: | ($6,267.00) | |
| Account Balances | | | Current Cash Balance | $83,288.02 | | Open Trade Equity | ($6,267.00) | | Total Equity | $77,021.02 | | Long Option Value | $0.00 | | Short Option Value | $0.00 | | Net Liquidating Value | $77,021.02 | | |
Cashed out: $15,000.00
Total value: $92,021.02
Weekly return: -5.3%
YTD return: 16.8%
***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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