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):
- Natural Gas
|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)|
|Current Cash Balance||$52,009.45|
|Open Trade Equity||($3,178.13)|
|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.