My Current Commodity Futures Positions – 10/12/08

My Current Commodity Futures Positions – 10/12/08

Top posts from the past week:

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):

  • Sugar
  • Cotton
  • Coffee
  • Natural Gas
  • Silver

Also waiting for a downtrend in long term US Treasuries – we might have that soon.

Open Positions

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)

Account Balances
Current Cash Balance $52,042.60
Open Trade Equity ($1,581.25)
Total Equity $50,461.35
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.