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):
- Natural Gas
|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|
|Current Cash Balance||$54,458.17|
|Open Trade Equity||$1,716.32|
|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.