Top posts from the past week:
- Stratfor: States, Economies, and Markets: Redefining the Rules
- Marc Faber on CNBC – October 14, 2008
- Warren Buffett: I’m Buying US Stocks Now
A review of my futures trades from the previous week:
- Went long the Swiss Franc – As I mentioned last week, I wanted find a match for my short British pound position. And the Swiss Franc is my favorite European currency. I don’t want to short the British pound outright, because then I’m essentially long the US dollar. This gives me a trade that is dollar neutral. And hey, if Jim Rogers is buying Swiss Francs, I figure I should be also.
- Shorted a couple of 10-Year Treasuries – Treasuries have performed quite poorly over the last two weeks, and Jim Rogers described them as the “last bubble left”. Have they topped? I think they may have – and boy have they got some room to fall if interest rates skyrocket like I think they will.
Other existing positions I’ve got:
- Short the British Pound – Last time I shorted the British Pound, it turned out to be a quite profitable trade. The fundamentals of the Pound Sterling are terrible, and I think it’s possible we could see the Pound at $1.50 over the next 12 months.
My wish list (waiting for an uptrend…and we could be waiting for awhile):
- Sugar
- Cotton
- Coffee
- Natural Gas
- Silver
Open Positions
| Date | Position | Qty | Month/Yr | Contract | Entry Price | Last Price | Profit/Loss |
| 10/10/08 | Short | 1 | DEC 08 | British Pound | 1.6870 | 1.7266 | ($2,475.00) |
| 10/13/08 | Long | 1 | DEC 08 | Swiss Franc | 0.888800 | 0.8813 | ($937.50) |
| 10/15/08 | Short | 1 | DEC 08 | T-Note (10yr) | 111-250 | 112-020 | ($281.25) |
| 10/13/08 | Short | 1 | DEC 08 | T-Note (10yr) | 112-185 | 112-020 | $515.63 |
| Net Profit/Loss On Open Positions: | ($3,178.13) | ||||||
| Account Balances | |
| Current Cash Balance | $52,009.45 |
| Open Trade Equity | ($3,178.13) |
| Total Equity | $48,831.33 |
| Long Option Value | $0.00 |
| Short Option Value | $0.00 |
| Net Liquidating Value | $48,831.33 |
Cashed out: $20,000.00
Total value: $68,831.33
Weekly return: -3.2%
YTD return: -10.7%
***”Cash out” mostly means taxes, but lately I’ve also been using it for living expenses, and also to finance a time management software startup I’m working on.
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