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…
- Sugar
- Coffee
- Natural Gas
- Silver
- Crude Oil
Open positions
| 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) |
| 12/15/08 | Long | 1 | MAR 09 | Cocoa | 2586 | 2506 | ($800.00) |
| 12/31/08 | Long | 1 | MAR 09 | Cotton | 48.52 | 48.90 | $190.00 |
| 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 | ||||||
Account Balances
| Current Cash Balance | $47,887.81 |
| Open Trade Equity | $1,666.24 |
| Total Equity | $49,554.05 |
| 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%
***”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.
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