2011-06-21st (Tues)

At the end of the previous trading session I had the following positions;
Long 25 contracts US Crude Aug 2011 with ACB of 98.6768
Long 35 contracts US Wheat Sep 2011 with ACB of 763.56

In today's trading session all US markets continued to rise on improved sentiment that the Greek government will survive a non-confidence vote.

Market participants were correct, the final tally for the vote was 155-143 in favor of the government.

It will be difficult to gauge tomorrow's market reaction.

I hope it will be a confidence vote for the markets to rise, but will not be surprised it markets sell off because the vote was so narrow.

Other Eurozone countries continue to be in the news, to remind investors that the situation is far from being resolved satisfactorily.

Article - "IMF: Spain needs bolder job-market reforms - IMF says Spain needs more labor reforms to cut high jobless rate, keep recovery going"
http://finance.yahoo.com/news/IMF-Spain-needs-bolder-apf-3725758312.html?x=0&.v=2

All eyes will be on Bernanke tomorrow in the Federal Open Market Committee's regular press briefing for clarity if monetary easing will continue in one shape or form.

Personally I think the US should continue to print as much money as it can while it still can (2011-05-23rd (Mon)).

Article - "How the Fed influences interest rates, at a glance - How the Fed influences short- and long-term interest rates, at a glance"
http://finance.yahoo.com/news/How-the-Fed-influences-apf-136612204.html;_ylt=AoQlkTGt4us4lM3XbmziYauxba9_;_ylu=X3oDMTFlYnZxcGYxBHBvcwM5MARzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNob3d0aGVmZWRpbmY-?x=0

On a different note, it seems the SEC has slapped JP Morgan on the wrist.

Article - "JP Morgan to pay $153.6M to settle fraud charges - JP Morgan to pay $153.6M to settle civil fraud charges over complex mortgage investments"
http://finance.yahoo.com/news/JPMorgan-to-pay-1536M-to-apf-2178089331.html;_ylt=AhFjXPC.gOq3wn4OBtJ0N1Oxba9_;_ylu=X3oDMTFlOWcyNWM0BHBvcwM3NgRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNqcG1vcmdhbnRvcGE-?x=0

Currently I have the following positions;
Long 25 contracts US Crude Aug 2011 with ACB of 98.6768
Long 35 contracts US Wheat Sep 2011 with ACB of 763.56

US Crude Aug 2011 is currently 93.395 (2011-06-22, 00:47 am EST)
US Wheat Sep 2011 is currently 708.63 (2011-06-22, 00:47 am EST)

Our first line of credit was activated on 2011-06-16th (Thurs) to maintain our positions.

Total equity is 45% of June 1st, and a slight increase from previous.  We gave back all the gains we made last month.

Stay Tuned,

Jeff
(2011-06-22, 00:47 am EST)