Our coverage of Marc Faber's recent interview on CNBC from December 1st continues to see a lot of traffic.
A review of our trades and positions from the previous week:
- Continued to hold one cocoa futures contract - up slightly on the week. Looking to add to this position on higher high's.
- Continued to hold one mini-gold futures contract - a nice bounce on Friday for Gold also made this position a solid performer on the week. Looking to pyramid if/when gold makes a serious run at $1,000.
- Purchased one wheat futures contract. All of the grains look like they are now breaking out - the corn and soybean charts look very similar. I think the grains are seriously oversold, and the bullish fundamentals are quite intriguing at these price points. I prefer wheat and corn over soybeans personally from a fundamental perspective.
Our wish list...everything here looks beaten down...some starting to form a bottom it appears...
- Natural Gas
- Crude Oil
|Date||Position||Qty||Month/Yr||Contract||Entry Price||Last Price||Profit/Loss|
|12/24/08||Long||1||MAR 09||Wheat||579 1/4||599||$987.50|
|12/15/08||Long||1||FEB 09||Mini Gold||836.6||870.6||$1,128.80|
|Net Profit/Loss On Open Positions||$2,416.30|
|Current Cash Balance||$47,916.42|
|Open Trade Equity||$2,416.30|
|Long Option Value||$0.00|
|Short Option Value||$0.00|
|Net Liquidating Value||$50,332.72|
Cashed out: $20,000.00
Total value: $70,332.72
Weekly return: 4.9%
YTD return: -8.6%
***"Cash out" mostly means taxes, but lately we'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 - and was recently covered by the Sacramento Business Journal.