Not much going on. I'm still holding 2 soybean-meal spread and 2 lumber trades. The spread trade came back to my way, but still far from my targets. I'm just getting really impatient though because when it came back last time and gave me about $5K profits, I didn't take it and it then moved against me quite a bit. I feel as if I just need to get out at break-even. However, that's not what's about trading. I just risked huge amount of money, and get out at b/e???
Lumber is giving me more pressure than before. It looked like it was bottoming out and then it broke the support making a new low. Everybody knows about how bad these housing markets are. I threw an order to sell 1 Sept 230 puts. Lumber has never been to this low and all I can say is it's 'well' below its cost of production. Supply and demand will eventually kick in, but it takes a while for sure.
Tuesday, July 22, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment