2011-04-27th (Wed)

At the end of the previous trading session I had the following positions;
Long 30 contracts Copper May 2011 with ACB of 428.70
Short 30 contracts Wheat May 2011 with ACB of 802.55

Copper May 2011 is currently 427.05 (2011-04-28, 02:19 am EST) expiring 28th.
Copper July 2011 is currently 428.48
Wheat May 2011 is currently 778.75 (2011-04-28, 02:19 am EST) expiring 28th.
Wheat July 2011 is currently 812.15

I TIVO'ed Bernanke's press conference for review, and when he spoke of his preference for a Strong Dollar the USD Index Futures was near its peak for the day where it had rallied ahead in anticipation.

The highest impact arsenal in the tool-box for Bernanke and Geithner is Fiscal and Monetary Policy so I am not sure what specific action not yet anticipated by market participants can be done.

My Thesis stands for the USD to weaken long-term although it is almost time for a technical rebound so yesterday I placed the following trade pending;
GTC Buy-To-Open 200000 USDCAD at 0.9350
USDCAD is currently at 0.9486 (2011-04-28, 02:48 am EST)

Stay Tuned,

Jeff
(2011-04-28, 02:49 am EST)