- Should the Big Three Be Allowed to Fail?
- How to Determine a Market's Trend
- Gold Buyers Smash Records
- More Downside for the Dow Could Be Ahead
A review of my futures trades from the previous week:
- Covered my cotton position. It appears I may have been too early in going long cotton, so I have closed this position and will watch from the sidelines for now. I reflected on Friday that it was not wise to jump into this trade while the longer term trend remains down.
Other existing positions I've got:
- Short the British Pound - I plan to hold this position until the GBP hits a 15-day high against the US dollar.
My wish list...and it looks like these commodities are at least starting to form a bottom, at last:
- Natural Gas
- Crude Oil
|Date||Position||Qty||Month/Yr||Contract||Entry Price||Last Price||Profit/Loss|
|10/10/08||Short||1||DEC 08||British Pound||1.6870||1.4742||$13,300.00|
|Net Profit/Loss On Open Positions||$13,300.00|
|Current Cash Balance||$37,270.43|
|Open Trade Equity||$13,300.00|
|Long Option Value||$0.00|
|Short Option Value||$0.00|
|Net Liquidating Value||$50,570.43|
Cashed out: $20,000.00
Total value: $70,570.43
Weekly return: 1.7%
YTD return: -8.3%
***"Cash out" mostly means taxes, but lately I've also been using it for living expenses, and also to finance a cool new time management software startup that is starting to lift off.