2011-04-26th (Tues)

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
Short 1 contract Silver May 2011 with ACB of 48.515

Buy-To-Close 1 contract Silver May 2011 at 45.74 (2011-04-26, 01:37 am EST) for a profit.

Currently I have 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 430.93 (2011-04-27, 00:34 am EST) expiring 28th.
Copper July 2011 is currently 432.98
Wheat May 2011 is currently 803.88 (2011-04-27, 00:34 am EST) expiring 28th.
Wheat July 2011 is currently 839.65

I am concerned about the market's reaction to the FOMC meeting minutes at 12:00 noon EST and Bernanke's news conference at 1:00 pm EST on Wed 27th.

I am confident in Bernanke's wisdom, but experience had taught me that crowds are stupid.

My expectation is for USD to weaken tomorrow, and I am thinking which currency pair will give me the greatest volatility.

With both equity markets trading at its peak simultaneously during the two time periods I pick USDCAD currently at 0.94870 (2011-04-27, 01:11 am EST)

GTC Buy-To-Open 200000 USDCAD at 0.9350

Stay Tuned,

Jeff
(2011-04-27, 01:12 am EST)