My Current Commodity Futures Positions - 9/7/08

Now THAT'S the way you trade!

Two solid weeks in a row - I'm feeling good about things, back in control, following trends like I should be.

A review of my trades from the week that was:

• Closed out my Coffee long position - I closed this out on Thursday just north of the 143 mark, because - well - coffee just didn't feel right. I bought in anticipating a possible breakout - didn't get it - and figured best to close out my position. Much to my immediate chagrin, coffee rallied up above 146 soon after I closed the position. But was down 4.10 yesterday. Coffee is so volatile it's unbelievable. This is truly a "close your eyes and buy" bull market, and I just don't have the stomach or capital for this right now.
  

• Also closed out my Silver long position - Really, I had to come to grips with the fact that I didn't time the bottom properly, that I was dumb for trying, and that I should wait for an uptrend before having a long position in Silver.

• Went long the Japanese Yen -As we discussed earlier in the week, the Yen has held up remarkably well in the face of this dollar rally. We finally got the breakout to the upside I was looking for on Thursday.
  

Other existing positions I've got:

• Short the British Pound - This trade continues to look good - the British Pound has been down basically every single day against the dollar for at least the last month. I'm happy that I closed my eyes and added another short contract last week.
  

My wish list (waiting for an uptrend):

• Sugar
• Cotton
• Coffee
  
• Swiss Franc
• Silver

Open Positions

Date	Position	Qty	Month/Yr	Contract	Entry Price	Last Price	Profit/Loss
08/29/08	Short	1	SEP 08	British Pound	1.8190	1.7654	$3,350.00
08/12/08	Short	1	SEP 08	British Pound	1.9042	1.7654	$8,675.00
09/04/08	Long	1	DEC 08	Japanese Yen	0.9340	0.9339	($12.50)
Net Profit/Loss On Open Positions:							$12,012.50

Account Balances
Current Cash Balance	$50,069.73
Open Trade Equity	$12,012.50
Total Equity	$62,082.23
Long Option Value	$0.00
Short Option Value	$0.00
Net Liquidating Value	$62,082.23

Cashed out: $18,000.00
Total value: $80,082.23

Weekly return: 7.4%
YTD return: 5.0%

***"Cash out" mostly means taxes, but lately I've also been using it to pay down my credit cards a bit. Why credit card debt? I'm financing a startup and trying to outpace my CC interest rate in the futures markets - kids, don't try this at home.