Current Commodity Futures Positions – 8/24/08

Current Commodity Futures Positions – 8/24/08

A review of trades from the week that was:

  • Covered my Soybean Short – beans rallied, along with the rest of the grains. Closed this out at a loss. And a good thing too – the grains markets continue to rally strong, even into the Asian session this evening. I can’t make heads or tails of the grains markets, and I don’t think any clarity will be found until the harvest results are in – I’m on the sidelines here for a bit.
  • Also covered by Cocoa Short, also at a loss – took a bath on the big cocoa rally. It gapped up, and I got out.

Looking ahead:

My wish list (waiting for an uptrend):

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 1.8391 $4,068.75
08/21/08 Long 1 DEC 08 Mini Silver 1390.1 1337.0 ($531.00)
Net Profit/Loss On Open Positions: $3,537.75

Account Balances
Current Cash Balance $52,980.25
Open Trade Equity $3,537.75
Total Equity $56,518.00
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $56,518.00

Cashed out: $18,000.00
Total value: $74,518.00

Weekly return: -4.7%
YTD return: -2.8%

***”Cash out” mostly means taxes, but lately I’ve also been using it to pay down my credit cards a bit. Why credit card debt? I’m financing a startup and trying to outpace my CC interest rate in the futures markets 🙂