Weekly Futures Positions Review – December 28, 2008

Weekly Futures Positions Review – December 28, 2008

Top posts from the past week:

Our coverage of Marc Faber’s recent interview on CNBC from December 1st continues to see a lot of traffic.

A review of our trades and positions from the previous week:

  • Continued to hold one cocoa futures contract – up slightly on the week. Looking to add to this position on higher high’s.
  • Continued to hold one mini-gold futures contract – a nice bounce on Friday for Gold also made this position a solid performer on the week. Looking to pyramid if/when gold makes a serious run at $1,000.
  • Purchased one wheat futures contract. All of the grains look like they are now breaking out – the corn and soybean charts look very similar. I think the grains are seriously oversold, and the bullish fundamentals are quite intriguing at these price points. I prefer wheat and corn over soybeans personally from a fundamental perspective.

Our wish list…everything here looks beaten down…some starting to form a bottom it appears…

  • Sugar
  • Coffee
  • Cotton
  • Natural Gas
  • Silver
  • Crude Oil
  • Corn

Open positions

Date Position Qty Month/Yr Contract Entry Price Last Price Profit/Loss
12/15/08 Long 1 MAR 09 Cocoa 2586 2616 $300.00
12/24/08 Long 1 MAR 09 Wheat 579 1/4 599 $987.50
12/15/08 Long 1 FEB 09 Mini Gold 836.6 870.6 $1,128.80
Net Profit/Loss On Open Positions $2,416.30

Account Balances

Current Cash Balance $47,916.42
Open Trade Equity $2,416.30
Total Equity $50,332.72
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $50,332.72

Cashed out: $20,000.00
Total value: $70,332.72
Weekly return: 4.9%
YTD return: -8.6%

***”Cash out” mostly means taxes, but lately we’ve also been using it for living expenses, and also to finance a cool new time management software startup that is starting to lift off – and was recently covered by the Sacramento Business Journal.