2011-05-20th (Fri)

At the end of the previous trading session I had the following positions;
Long 110 contracts Copper July 2011 with ACB of 410.73
Short 10 contracts Wheat July 2011 with ACB of 825.00

Some US economic numbers came out today and caused a scare in the markets.
The fear is that the US economy is not going to prosper or may even go down the drain, and the rest of the world will also go down the drain with it.
This also caused the USD to weaken slightly.

I understand that is an extremely simplified view of the undercurrents, and the reason I wrote that paragraph is to focus your attention to what really moved the markets today.

FEAR - Anticipation of Pain.

Pain of not able to buy all the toys and enjoy the life of luxury.

So that is why the markets went down, and only time can tell if I am right or wrong.

Those reasons affected slightly the markets I observe, and currency, and projected crop yields.

The aggregate effect is prices moved to my advantage today and we saw an increase in our account equity.

Copper July 2011 closed at 411.03 (2011-05-21, 01:27 am EST)
Wheat July 2011 closed at 806.38 (2011-05-21, 01:27 am EST)

Our first line of credit activated on 2011-05-05th (Thurs) is carrying both positions with ease, and I am considering adding to both positions.

Total equity is 136% of May 1st and it was a good day for me today.

Stay Tuned,

Jeff
(2011-05-21, 01:30 am EST)