2011-06-22nd (Wed)

At the end of the previous trading session I had the following positions;
Long 25 contracts US Crude Aug 2011 with ACB of 98.6768
Long 35 contracts US Wheat Sep 2011 with ACB of 763.56

In today's trading session, I felt US markets fell because Bernanke did not bring particularly good news regarding further economic stimulus.

The Fed estimated the economy should grow 2.7% to 2.9% this year, down from a forecast range of 3.1% to 3.3% made in April.  Also said it sees 2012 growth in a range of 3.3% to 3.7%, lower than its previous forecast.

This was not a surprise to me, for there have been many indications leading up to today's announcement that the Fed has been fully taped, and markets have priced in this outcome.

Bernanke did leave some room open as any politician would do, and the Twitter twit from Bill Gross of PIMCO is providing those who need the markets to rally big a thin life line to cling on to.

Personally I think the US should continue to print as much money as it can while it still can (2011-05-23rd (Mon)).  We may hear a change in tone once the Debt Ceiling issue has been resolved.

WTI Crude prices rose slightly to my advantage.

Wheat prices fell against me to and I am in agony from the loss of equity.  It is impossible to tell when the selling will stop until it stops, and my account margin is wearing thin.

Article - "Corn, Wheat Slide As Investment Funds Sell"
http://online.wsj.com/article/SB10001424052702304791204576401972128812228.html#articleTabs%3Darticle

Ultimately as a Trader only the trades matter, and I am maintaining my Long positions.

Currently I have the following positions;
Long 25 contracts US Crude Aug 2011 with ACB of 98.6768
Long 35 contracts US Wheat Sep 2011 with ACB of 763.56

US Crude Aug 2011 is currently 94.180 (2011-06-23, 00:13 am EST)
US Wheat Sep 2011 is currently 673.35 (2011-06-23, 00:13 am EST)

Our first line of credit was activated on 2011-06-16th (Thurs) to maintain our positions.

Total equity is 29% of June 1st, and a significant decrease from previous.  We gave back all the gains we made last month.

Stay Tuned,

Jeff
(2011-06-23, 00:15 am EST)