2011-06-01st (Wed)

At the end of the previous trading session I had the following positions;
Long 130 contracts Copper July 2011 with ACB of 409.26
Long 500000 USDCAD with ACB of 0.97000

Bad ISM manufacturing PMI and ADP private-sector job growth numbers moved US markets down today on fears of a double dip recession.

Article - "US Stocks Drop Following Weak ADP Jobs Data."
http://online.wsj.com/article/BT-CO-20110601-706646.html

Article - "Greece's Debt Rating Is Cut Even Further by Moody's."
http://www.cnbc.com/id/43240631/

Our reversal trade from Short to Long USDCAD in yesterday's trading session gave us the gains required to offset some of the losses from our Long Copper position.

Sell-To-Close 500000 USDCAD at 0.97805 (2011-06-02, 03:09 am EST) for a profit.

Currently I have the following position;
Long 130 contracts Copper July 2011 with ACB of 409.26

Copper July 2011 is currently 409.55 (2011-06-02, 03:35 am EST)

Total equity is 90% of June 1st, and we begin the month with our account equity chopped by the drop in Copper prices.

Stay Tuned,

Jeff
(2011-06-02, 03:38 am EST)