2011-06-15th (Wed)

At the end of the previous trading session I had the following positions;
Long 20 contracts US Crude July 2011 with ACB of 98.545
Long 20 contracts Wheat July 2011 with ACB of 735.00

In today's trading session violent protests in Greece forced a government shake up, slams stocks, as investors world wide worry about Greece's debt crisis if it is going to spiral out of control.

Article - "Worsening Greek debt crisis sinks stocks, euro - Stocks slide as protesters in Greece rally against budget cutbacks; euro falls 2 percent"
http://finance.yahoo.com/news/Worsening-Greek-debt-crisis-apf-3071087593.html?x=0&sec=topStories&pos=1&asset=&ccode=

History will record the events unfolding faithfully, so I will not do it here.

Tomorrow's market is a matter of psychology, and the end-game is potentially systemic.

If Greece defaults on its debt it could cause investors to dump the bonds of other weak European nations like Portugal, Spain and Ireland; and we will have a blowout in all the spreads, and bankrupt the European Central Bank (ECB) in the process forcing it to recapitalize.

Our futures contract portfolio was chopped primarily due to the spike in USD strength and the inverse-dollar trade may remain for a while until sentiment subsides.

I expect other Traders to shot first and ask questions later, and keep cash on the side lines; I choose to dollar-cost-average, buy into the dips and essentially stay Long.

Ultimately as a Trader only the trades matter.

Buy 10 contracts Wheat July 2011 at 720.13 (2011-06-15, 11:10 am EST)
Buy 5 contracts Wheat July 2011 at 714.38 (2011-06-15, 11:35 am EST)
Buy 5 contracts US Crude July 2011 at 97.055 (2011-06-15, 12:57 pm EST)

Currently I have the following positions;
Long 25 contracts US Crude July 2011 with ACB of 98.2468
Long 35 contracts Wheat July 2011 with ACB of 727.81

US Crude July 2011 is currently 95.180 (2011-06-15, 19:59 pm EST)
Wheat July 2011 is currently 711.25 (2011-06-15, 19:59 pm EST)

Total equity is 76% of June 1st, and a significant decrease from previous.

Stay Tuned Hockey Fans for Game 7, Canucks VS. Bruins, I am rooting for the Canucks!

Jeff
(2011-06-15, 20:00 pm EST)