- Went long December Gold - I picked up a gold contract on the big breakout this week. As we've discussed in this space before, I believe the government's printing of money as fast as it can will send the price of Gold and Silver higher.
Other existing positions I've got:
- Long the Japanese Yen - This trade was looking fan-freaking-tastic mid-week, as the Yen was flirting with 0.97. Then the latest example of US socialism sent the Yen reeling, as the good times returned again on Wall St, and the carry trade was back on. Let's see how long this latest disregard for risk holds true.
- Short Soybeans - Nothing too exciting here, the trend still appears to be down. If the harvest is good, there will be a glut of soybeans on the market.
My wish list (waiting for an uptrend):
- Sugar
- Cotton
- Coffee
- Swiss Franc
- Natural Gas
- Silver
Open Positions
| Date | Position | Qty | Month/Yr | Contract | Entry Price | Last Price | Profit/Loss |
| 09/04/08 | Long | 1 | DEC 08 | Japanese Yen | 0.9340 | 0.9431 | $1,137.50 |
| 09/17/08 | Long | 1 | DEC 08 | Mini Gold | 864.6 | 876.4 | $391.76 |
| 09/09/08 | Short | 1 | NOV 08 | Mini Soybeans | 1168 1/4 | 1161 1/2 | $67.50 |
| Net Profit/Loss On Open Positions: | $1,596.76 | ||||||
| Account Balances | |
| Current Cash Balance | $54,480.27 |
| Open Trade Equity | $1,596.76 |
| Total Equity | $56,077.03 |
| Long Option Value | $0.00 |
| Short Option Value | $0.00 |
| Net Liquidating Value | $56,077.03 |
Cashed out: $20,000.00
Total value: $76,077.03
Weekly return: 0.6%
YTD return: -0.6%
***"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.
No comments:
Post a Comment