2011-06-29th (Wed)

At the end of the previous trading session I had the following positions;
Long 10 contracts US WTI Crude Aug 2011 with ACB of 98.6768
Long 10 contracts US Wheat Sep 2011 with ACB of 763.56

In today's trading session all US markets continued to rally on positive sentiment.

President Obama held a press conference and I infer the national debt ceiling issue will be resolved, although we should expect to see brinkmanship until the last moment and through July 4th.

Article - "IMF urges US lawmakers to raise $14.3T debt limit - International Monetary Fund urges US lawmakers to raise $14.3T borrowing limit, cut deficits"
http://finance.yahoo.com/news/IMF-urges-US-lawmakers-to-apf-694120406.html;_ylt=AhDx__MlrQsQzgUYK_gKgC.xba9_;_ylu=X3oDMTFlaTljOTllBHBvcwM4OQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNpbWZ1cmdlc3VzbGE-?x=0

Greece passed their austerity vote as expected, although that brinkmanship created whip-lash volatility in the markets.

Article - "Greece passes steep cuts as riots seize capital - Greece backs austerity measures, holding off default, but protests against bill are violent"
http://finance.yahoo.com/news/Greece-passes-steep-cuts-as-apf-1551356180.html;_ylt=AsQ_S9ulEEfZ0BWkxf1aMXexba9_;_ylu=X3oDMTFlcXY5YnFuBHBvcwMxNQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNncmVlY2VwYXNzZXM-?x=0

End-of-Quarter Window Dressing is not typical in the markets I observe but may play a role.

A Stop Sell Order was automatically triggered earlier.

Sell-To-Close 10 contracts US Wheat Sep 2011 at 674.38 (2011-06-29, 10:54 am EST) for a significant loss.

Currently I have the following position;
Long 10 contracts US WTI Crude Aug 2011 with ACB of 98.6768

US WTI Crude Aug 2011 is currently 95.085 (2011-06-30, 00:01 am EST)

I have placed appropriate Stop Loss Orders to preserve our Trading Capital and Mental Capital.

Our first line of credit was activated on 2011-06-16th (Thurs) and our second line of credit was activated today.

We have sufficient available margin to massively pile on when opportunity comes.

Total equity is 15% of June 1st and we are committed to trade ourselves back to our High Water Mark.

Stay Tuned,

Jeff
(2011-06-30, 00:07 am EST)