Current Commodity Futures Positions – 6/29/08

Current Commodity Futures Positions – 6/29/08

A nice little week – good to be back in the win column. Things cooled off later in the week for me, mostly as wheat plummeted in late trading hours Friday morning. However cattle ended the week very strong, which was great to see.

My new policy of watching the charts, rather than my account, helped me keep my zen about me. I’d recommend this to anyone who feels a pit in your stomach watching big $$$ evaporate by the minute. Better to calculate your position sizes, then put the position on, and detach yourself from it.

On a personal note, I had set a stretch goal of doubling my account during the first half of the year. Then I would have the second half of the year to double it again, and if I came close, then poof – I’d have some degree of financial autonomy.

Unfortunately it didn’t happen, though there were some very promising moments (esp. the rocket start early in the year). However can’t complain at all about 38% YTD. I’m looking forward to the 2nd half of the year, as I think cattle, sugar, cotton, and coffee all have rally potential. That doesn’t mean it will happen, but it’s worth keeping an eye on and a toe in the water.

Open Positions
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss
06/17/08 Long 1 DEC 08 Cotton 82.20 81.15 ($525.00)
06/26/08 Long 1 SEP 08 Coffee ‘C’ 153.30 151.95 ($506.25)
05/08/08 Long 1 OCT 08 Live Cattle 105.350 112.400 $2,820.00
05/09/08 Long 1 OCT 08 Live Cattle 106.700 112.400 $2,280.00
06/16/08 Long 1 DEC 08 Live Cattle 112.750 114.900 $860.00
06/19/08 Long 1 FEB 09 Live Cattle 116.200 117.000 $320.00
06/18/08 Long 1 OCT 08 Sugar #11 12.88 12.78 ($112.00)
06/11/08 Long 1 SEP 08 Wheat 867 3/4 908 $2,012.50
Net Profit/Loss On Open Positions: $7,149.25

Account Balances
Current Cash Balance $85,663.00
Open Trade Equity $7,149.25
Total Equity $92,812.25
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $92,812.25

Cashed out: $15,000.00
Total value: $107,812.25

Weekly return: 2.9%
YTD return: 38.0%

***BTW, I usually “cash out” money just to pay for taxes, rent, and cheap beer. So total value is all pre-tax.