Top posts from the past week:
- Quick Thoughts on the (Very) Latest Black Monday
- AuEx Ventures: An Intriguing Gold Junior Opportunity
- Sequoia Capital: RIP Good Times
- Jim Rogers on CNBC and Bloomberg – 10/10/08
A review of my trades from the week that was:
- Closed out my Japanese Yen position – Closed out on the Monday spike up. The Yen went a bit higher during the week, all the way to the 98 handle – looks like it’s trading down in the Asian markets right now, slightly above “parity”.
- Went long another Mini-Gold contract, and got stopped out of both contracts on Friday.
- Ditto for silver – went long a Mini contract on Thursday, got stopped out (and lost my shirt) on Friday. Maybe I need to chill on gold/silver for right now – I keep waiting for both to explode, but maybe they won’t do so until all of this extra cash is really flowing through the system.
Other existing positions I’ve got:
- Short the British Pound – Just initiated this position on Thursday – maybe I shouldn’t have. We’ll see. Maybe I should pair up this trade with the Swiss Franc. Long the Swissie, short the BP – I like the sound of that. I’m scared to be long or short the dollar right now – it’s too crazy.
My wish list (waiting for an uptrend…and we could be waiting for awhile):
- Natural Gas
Also waiting for a downtrend in long term US Treasuries – we might have that soon.
|Date||Position||Qty||Month/Yr||Contract||Entry Price||Last Price||Profit/Loss|
|10/10/08||Short||1||DEC 08||British Pound||1.6870||1.7123||($1,581.25)|
|Net Profit/Loss On Open Positions:||($1,581.25)|
|Current Cash Balance||$52,042.60|
|Open Trade Equity||($1,581.25)|
|Long Option Value||$0.00|
|Short Option Value||$0.00|
|Net Liquidating Value||$50,461.35|
Cashed out: $20,000.00
Total value: $70,461.35
Weekly return: -4.4%
YTD return: -8.4%
***”Cash out” mostly means taxes, but lately I’ve also been using it for living expenses, and also to finance a time management software startup I’m working on.