2011-06-30th (Thurs)

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

In today's trading session all US markets rose on positive sentiment.

A few more days like this and the general public will forget the volatlity we experienced the last months.

Article - "Stocks rise as Greece clears final bailout hurdle - Stocks jump after Greece clears way for rescue loans; Chicago area manufacturing picks up"
http://finance.yahoo.com/news/Stocks-rise-as-Greece-clears-apf-2176630239.html?x=0&sec=topStories&pos=5&asset=&ccode=

Article - "China manufacturing slows: omen for weaker growth - China manufacturing slows on sluggish orders, growing inventories, as credit curbs take hold"
http://finance.yahoo.com/news/China-manufacturing-slows-apf-4069469863.html;_ylt=Aukf1JUoKwMzc7rLKwTfP0axba9_;_ylu=X3oDMTFkaGhlNXFxBHBvcwMyBHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA2NoaW5hbWFudWZhYw--?x=0

Alan Greenspan was interviewed today at the Aspen Ideas Festival, his position was more or less the same as his book "The Age of Turbulence".

When Maria Bartiromo asked Greenspan his view on the Greek debt contagion situation he gave a long winded answer.

Then just before the cameras cut to a new segment Maria reflexively added a follow-up question "... so you think xxx is going to default?..." and Greenspan relexively answered "... Yeah yeah... ".

Timothy Geithner was quoted or mis-quoted in the news today, and I will leave history to interpret accordingly.

Personally I think Secretary Geithner did a great job, and perhaps he intends to leave the legacy of buying the Nation a lifeline by extending the debt ceiling and buying us time to dig ourselves out of our debt, so Bernanke can print us out of it.  His book will be an interesting read.

A Stop Sell Order was automatically triggered earlier.

Sell-To-Close 5 contracts US WTI Crude Aug 2011 at 94.850 (2011-06-30, 03:36 am EST) for a significant loss.

Sell-To-Close 5 contracts US WTI Crude Aug 2011 at 94.680 (2011-06-30, 04:07 am EST) for a significant loss.

Buy-To-Open 300,000 USDCAD at 0.96662 (2011-06-30, 04:16 am EST)

Currently I have the following position;
Long 300,000 USDCAD with ACB of 0.96662

USDCAD is currently 0.96312 (2011-06-30, 23:42 pm EST)

Our first line of credit was activated on 2011-06-16th (Thurs) and our second line of credit was activated on 2011-06-29th (Wed).

We end June 2011 with total equity at 15% of June 1st, humiliated and humbled.

With the lessons learnt we are committed to trade ourselves back to our High Water Mark.

Stay Tuned,

Jeff
(2011-06-30, 23:49 pm EST)