Ahhhhhhhhhhhhhhhhhhhhh, relief at last – that’s me, pissing away the last of my 2008 gains. Glad we got that out of the way.
Tuesday I was feeling really smart, and bought a mini-silver contract at the bargain price of $15. Unfortunately nobody told me that the bargains were going to get even better! I sold silver on Friday for just over $13.
Hey, I got exactly what I deserved. Look at this chart of gold and silver, courtesy of Agora Financial:
What kind of idiot would try to time the bottom of that spike through the basement floor? (Pointing both thumbs at my chest…) “This guyyyyyy.”
On Friday, I jumped into a vat of rough rice and holy water, and repented for my trading sins. Last time I fully repented was last November, when I developed a new trading outlook. That outlook served me very well until I decided I smarter than it.
Well, here’s to new beginnings. As I repeat the mantra I should never have forgotten “The trend is my friend, the trend is my friend, don’t eat yellow snow, the trend is my friend…”
Open Positions
| Date | Position | Qty | Month/Yr | Contract | Entry Price | Last Price | Profit/Loss |
| 08/12/08 | Short | 1 | SEP 08 | British Pound | 1.9042 | 1.8620 | $2,637.50 |
| 08/15/08 | Short | 1 | DEC 08 | Cocoa | 2589 | 2587 | $20.00 |
| 08/14/08 | Short | 1 | NOV 08 | Mini Soybeans | 1260 | 1221 | $390.00 |
| Net Profit/Loss On Open Positions: | $3,047.50 | ||||||
| Account Balances | |
| Current Cash Balance | $56,272.41 |
| Open Trade Equity | $3,047.50 |
| Total Equity | $59,319.91 |
| Long Option Value | $0.00 |
| Short Option Value | $0.00 |
| Net Liquidating Value | $59,319.91 |
Cashed out: $18,000.00
Total value: $77,319.91
Weekly return: -8.0%
YTD return: 1.2%
***BTW, I usually “cash out” money just to pay for taxes, rent, and cheap beer. So total value is all pre-tax.
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