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…”
|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|
|08/14/08||Short||1||NOV 08||Mini Soybeans||1260||1221||$390.00|
|Net Profit/Loss On Open Positions:||$3,047.50|
|Current Cash Balance||$56,272.41|
|Open Trade Equity||$3,047.50|
|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.