Top posts from the past week:
- Five Easy Ways You Can Diversify Away From the Dollar
- US Mint: Sorry, we’re out of gold (again)
- Jim Rogers: Bailout is “welfare for the rich”
A review of my trades from the week that was:
- Went long the Swiss Franc – The Swissie is the Yen’s carry trade cousin – they usually rise and fall in unison. The Swiss Franc is one of the world’s sounder currencies, and I expect the carry trade will continue to unwind.
- Also shorted 10-Year Treasuries – As discussed earlier in the week, I am quite bearish on long-dated US Treasuries. I think interest rates have to rise, and rise significantly, as I can’t imagine the world will continue to lend the US government money at these bargain basement rates.
Other existing positions I’ve got:
- Long the Japanese Yen – Not much action this week in the Yen.
- Long Gold – As we’ve discussed in this space before, I believe the government’s printing of money as fast as it can will send the price of Gold and Silver higher.
- Short Soybeans – Nothing too exciting here, the trend still appears to be down. If the harvest is good, there will be a glut of soybeans on the market.
My wish list (waiting for an uptrend):
- Sugar
- Cotton
- Coffee
- Natural Gas
- Silver
Open Positions
| Date | Position | Qty | Month/Yr | Contract | Entry Price | Last Price | Profit/Loss |
| 09/04/08 | Long | 1 | DEC 08 | Japanese Yen | 0.9340 | 0.9503 | $2,037.50 |
| 09/22/08 | Long | 1 | DEC 08 | Swiss Franc | 0.931700 | 0.9212 | ($1,312.50) |
| 09/24/08 | Short | 1 | MAR 09 | T-Note (10yr) | 113-245 | 113-225 | $62.50 |
| 09/17/08 | Long | 1 | DEC 08 | Mini Gold | 864.6 | 892.2 | $916.32 |
| 09/09/08 | Short | 1 | NOV 08 | Mini Soybeans | 1168 1/4 | 1167 | $12.50 |
| Net Profit/Loss On Open Positions: | $1,716.32 | ||||||
| Account Balances | |
| Current Cash Balance | $54,458.17 |
| Open Trade Equity | $1,716.32 |
| Total Equity | $56,174.49 |
| Long Option Value | $0.00 |
| Short Option Value | $0.00 |
| Net Liquidating Value | $56,174.49 |
Cashed out: $20,000.00
Total value: $76,174.49
Weekly return: 0.2%
YTD return: -0.4%
***”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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