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):
- Swiss Franc
- Japanese Yen
- More silver
- More cowbell
|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|
|Current Cash Balance||$52,962.94|
|Open Trade Equity||$4,845.25|
|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.