Saturday, October 25, 2008

Weekly Futures Positions Review - October 26, 2008

Top posts from the past week:

A review of my futures trades from the previous week:

  • Covered my Swiss Franc long - Turns out I didn't want a dollar neutral trade after all. The Swiss Franc kept on dropping, and I got out.

Other existing positions I've got:
  • Short the British Pound - Last time I shorted the British Pound, it turned out to be a quite profitable trade. The fundamentals of the Pound Sterling are terrible, and I think it's possible we could see the Pound at $1.50 over the next 12 months...or maybe over the next week at this rate.
  • Short a couple of 10-Year Treasuries - Treasuries have performed quite poorly over the last two weeks, and Jim Rogers described them as the "last bubble left". Have they topped? I think they may have - and boy have they got some room to fall if interest rates skyrocket like I think they will. Although trending up since I shorted (what else is new), the chart still looks bearish, with lower highs and lower lows.

My wish list (waiting for an uptrend...and we could be waiting for awhile):
  • Sugar
  • Cotton
  • Coffee
  • Natural Gas
  • Silver
Open Positions
Date Position Qty Month/Yr Contract Entry Price Last Price Profit/Loss
10/10/08 Short 1 DEC 08 British Pound 1.6870 1.5804 $6,662.50
10/15/08 Short 1 DEC 08 T-Note (10yr) 111-250 115-105 ($3,546.88)
10/13/08 Short 1 DEC 08 T-Note (10yr) 112-185 115-105 ($2,750.00)
Net Profit/Loss On Open Positions: $365.63

Account Balances
Current Cash Balance $48,710.90
Open Trade Equity $365.63
Total Equity $49,076.53
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $49,076.53

Cashed out: $20,000.00
Total value: $69,076.53
Weekly return: 0.5%
YTD return: -10.4%

***"Cash out" mostly means taxes, but lately I've also been using it for living expenses, and also to finance a time management software startup I'm working on.

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