A contemplation on my trades from the week that was:
- Shorted the British Pound (again) – Roll over, Sterling! The trend is my friend, the trend is my friend, the trend…bad economic data keeps on coming from the UK. This move was long overdue.
- Went long Coffee – I absolutely DON’T like the way coffee is acting since I took this long position, but I’m in for the long haul – hopefully.
Other existing positions I’ve got:
- Silver Futures – Same old story – I expect silver and gold to rally strong towards the end of the year.
My wish list (waiting for an uptrend):
- Sugar
- Cotton
- Swiss Franc
- Japanese Yen
- More silver
- More cowbell
Open Positions
| Date | Position | Qty | Month/Yr | Contract | Entry Price | Last Price | Profit/Loss |
| 08/29/08 | Short | 1 | SEP 08 | British Pound | 1.8190 | 1.8213 | ($143.75) |
| 08/12/08 | Short | 1 | SEP 08 | British Pound | 1.9042 | 1.8213 | $5,181.25 |
| 08/26/08 | Long | 1 | DEC 08 | Coffee ‘C’ | 146.55 | 146.60 | $18.75 |
| 08/21/08 | Long | 1 | DEC 08 | Mini Silver | 1390.1 | 1369.0 | ($211.00) |
| Net Profit/Loss On Open Positions: | $4,845.25 | ||||||
| Account Balances | |
| Current Cash Balance | $52,962.94 |
| Open Trade Equity | $4,845.25 |
| Total Equity | $57,808.19 |
| Long Option Value | $0.00 |
| Short Option Value | $0.00 |
| Net Liquidating Value | $57,808.19 |
Cashed out: $18,000.00
Total value: $74,518.00
Weekly return: 2.3%
YTD return: -1.0%
***”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 – kids, don’t try this at home.
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