2011-05-11th (Wed)

At the end of the previous trading session I had the following positions;
Long 90 contracts Copper July 2011 with ACB of 413.70

Commodities all got hammered in today's trading session and there were various reasons mentioned on CNBC and the news wires.

I am concerned on the effect it has had on our trading account for our equity got chopped significantly.

Our first line of credit activated on 2011-05-05th (Thurs) is allowing us to hold on and even add to our position.

Buy 10 contracts Copper July 2011 at 400.00 (2011-05-11, 03:39 am EST)
Buy 10 contracts Copper July 2011 at 394.73 (2011-05-11, 10:11 am EST)

Currently I have the following positions;
Long 110 contracts Copper July 2011 with ACB of 410.73

Copper July 2011 is currently 397.43 (2011-05-12, 15:15 pm EST)

I was not by my screens this morning when Copper hit an intra-day low of 384.83 (2011-05-12, 06:12 am EST) and I wonder if I would have added more to my position at that level.

Total equity is 85% of May 1st.

Stay Tuned,

Jeff
(2011-05-12, 15:18 pm EST)