Top posts from the past week:
- The Case for Shorting Long Dated US Treasuries
- Why the Yen and Dollar are Rallying
- GoldMoney: Gold’s New Highs vs. Other Currencies
- Jim Rogers on CNBC: October 22, 2008
- Foods and Softs Outlook
A review of my futures trades from the previous week:
- Covered my Swiss Franc long – Turns out I didn’t want a dollar neutral trade after all. The Swiss Franc kept on dropping, and I got out.
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…or maybe over the next week at this rate.
- Short 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. Although trending up since I shorted (what else is new), the chart still looks bearish, with lower highs and lower lows.
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||1.5804||$6,662.50|
|10/15/08||Short||1||DEC 08||T-Note (10yr)||111-250||115-105||($3,546.88)|
|10/13/08||Short||1||DEC 08||T-Note (10yr)||112-185||115-105||($2,750.00)|
|Net Profit/Loss On Open Positions:||$365.63|
|Current Cash Balance||$48,710.90|
|Open Trade Equity||$365.63|
|Long Option Value||$0.00|
|Short Option Value||$0.00|
|Net Liquidating Value||$49,076.53|
Cashed out: $20,000.00
Total value: $69,076.53
Weekly return: 0.5%
YTD return: -10.4%
***”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.