2011-05-18th (Wed)

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

Commodities were up today due to techinical reasons and the USD weakening slightly.

There was also talk of the US economy not as bad as expected although the numbers could always be restated and are already hotly debated.

Our Debt Ceiling situation is to be dealt with, and so is the European debt situation.

Repositioning of debts is one way of kicking the can down the road.  So is not funding certain pension accounts.  It will provide some relief to cash-flow, but not a lot.  I am still long-term bearish on the USD but have recently missed trading a spike as I am still occupied on Copper and the world economic growth thesis.

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

Copper July 2011 is currently 408.80 (2011-05-19, 03:05 am EST)

We are still using our first line of credit activated on 2011-05-05th (Thurs) and I am considering buying more contracts.

Total equity is 121% of May 1st.

Stay Tuned,

Jeff
(2011-05-19, 03:05 am EST)