Now for the weekly review of our commodity futures positions - current as of January 4, 2009.
First, our top blog posts from the past week:
- Expert Commodity Picks for 2009: Jim Rogers and Marc Faber
- GoldMoney Review: Gold Climbs for 8th Straight Year
- Jim Rogers on Kudlow: We're going to have an inflationary nightmare
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 - down on the week, mostly due to a sharp Friday drop.
- Continued to hold one mini-gold futures contract. Gold was stuck in the mud for the week - though it did wrap up an 8th consecutive up year vs. the US dollar.
- Continued to hold one wheat futures contract - up a bit for the week. Looking to add on further strength.
- Bought one corn futures contract. This was an attempt to "pyramid" our grains position and diversify - in hindsight, looking at the charts of each, wheat looks stronger, and we should have added to that position before initiating this one.
- Bought one cotton futures contract - we LOVE cotton at these prices - as we've discussed with before in this space.
Commodities that appear quite beaten down - but we don't own them...yet...
- Natural Gas
- Crude Oil
|Date||Position||Qty||Month/Yr||Contract||Entry Price||Last Price||Profit/Loss|
|12/29/08||Long||1||MAR 09||Corn||422 1/4||410||($612.50)|
|12/24/08||Long||1||MAR 09||Wheat||579 1/4||610||$1,537.50|
|12/15/08||Long||1||FEB 09||Mini Gold||836.6||877.3||$1,351.24|
|Net Profit/Loss On Open Positions||$1,666.24|
|Current Cash Balance||$47,887.81|
|Open Trade Equity||$1,666.24|
|Long Option Value||$0.00|
|Short Option Value||$0.00|
|Net Liquidating Value||$49,554.05|
Cashed out: $20,000.00
Total value: $69,554.05
Weekly return: -2.5% *** since 1/1/09
YTD return: -2.5%
2008 return: -8%
***"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.