At the end of the previous trading session I had the following position;
Long 100 contracts Copper July 2011 with ACB of 409.26
Sell 50 contracts Copper July 2011 at 411.00 (2011-06-03, 12:10 pm EST) for a profit.
Sell-To-Close 50 contracts Copper July 2011 at 414.13 (2011-06-06, 12:52 am EST) for a profit.
With the above trades I am now 100% in Cash.
I did not like the Nonfarm payroll employment numbers and so I exited the markets completely.
Article - "May payroll employment changes little (+54,000); jobless rate essentially unchanged (9.1%)"
http://www.bls.gov/news.release/empsit.nr0.htm
http://www.bls.gov/news.release/pdf/empsit.pdf
Article - "Figures on government spending and debt"
http://finance.yahoo.com/news/Figures-on-government-apf-2214917433.html;_ylt=AvjJMcKydIpg6r9FQW9i2eGxba9_;_ylu=X3oDMTFlbG83ZjVhBHBvcwM3MQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNmaWd1cmVzb25nb3Y-?x=0
Below are some articles which caught my attention as each one points to a direction of a developing scenario. I may not completely agree with the Thesis of the article but it is the direction of trade I can infer from those articles that I pay attention to its viewpoint.
Article - "Egypt gets $3b IMF standby loan - Egypt secures $3 billion IMF standby loan agreement to help bridge projected deficit"
http://finance.yahoo.com/news/Egypt-gets-3b-IMF-standby-apf-4244516832.html;_ylt=AkvsqGGr5Vvznw4a3wiKnN2xba9_;_ylu=X3oDMTFlc2l1OThwBHBvcwMyMgRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNlZ3lwdGdldHMzYmk-?x=0
Article - "Oil storage tank attacked in southern Iraq - Oil storage tank attacked in southern Iraq, officials say"
http://finance.yahoo.com/news/Oil-storage-tank-attacked-in-apf-3356416785.html;_ylt=AoNoOS5DPNztCLzAVyfbJsOxba9_;_ylu=X3oDMTFlaDBuOTU3BHBvcwMxNARzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNvaWxzdG9yYWdldGE-?x=0
Article - "Iraq boosts oil exports to Jordan - Iraq agrees to increase oil supply to Jordan by 50 percent to meet rising demand"
http://finance.yahoo.com/news/Iraq-boosts-oil-exports-to-apf-2629014881.html;_ylt=AvRva5VdJAE3WENoSxztqFGxba9_;_ylu=X3oDMTFlMzQ4YzlpBHBvcwMxMgRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNpcmFxYm9vc3Rzb2k-?x=0
Article - "Snow melting, dams filling, floods feared in West - Residents of West brace for flooding as huge mountain snowpack melts and reservoirs fill"
http://finance.yahoo.com/news/Snow-melting-dams-filling-apf-987904788.html;_ylt=Arnal6ODVt203EW3iwehE.yxba9_;_ylu=X3oDMTFkZG5qZzhzBHBvcwM4BHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA3Nub3dtZWx0aW5nZA--?x=0
Article - "China drought renews debate over Three Gorges Dam - China drought resurrects debate over Three Gorges Dam, as engineering marvels hit limits"
http://finance.yahoo.com/news/China-drought-renews-debate-apf-1422152850.html;_ylt=AsRwsfCyJ8nGEtQWQMdK2vuxba9_;_ylu=X3oDMTFlbjNscGUwBHBvcwMyNARzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNjaGluYWRyb3VnaHQ-?x=0
Article - "China shops for Latin American oil, food, minerals - China on Latin American buying spree to lock in long-term needs in oil, minerals, food"
http://finance.yahoo.com/news/China-shops-for-Latin-apf-4189398812.html?x=0&sec=topStories&pos=1&asset=&ccode=
I jumped out of my seat when I read the following;
Article - "Paulson $9 Billion Hedge Fund Falls 6 Percent in May"
http://www.cnbc.com/id/43262215
John Paulson of Paulson & Co. Inc. is my mentor although I have never met him, and our portfolio's ROI for the single month of May 2011 was 85% and we are pleased with the results. 2011-05-31st (Tues)
Compared to John Paulson I am just a drop in the ocean not yet worthy of his attention, and I would not want to catch his attention for he can crush me effortlessly by trading against my positions. I am smart enough to recognize that I was just lucky when over-leveraged.
Some day I hope to meet John Paulson the Master himself and be mentored directly by him.
http://en.wikipedia.org/wiki/John_Paulson
Our long-term investment objective, balanced risk profile, mutual fund portfolios need no change in asset allocation since the volatility is within implied levels.
Currently I have no positions in our short-term, tactical highest risk, Futures Contracts Portfolio and is 100% in Cash.
Total equity is 97% of June 1st, and a slight increase from previous.
Stay Tuned,
Jeff
(2011-06-06, 03:19 am EST)
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