Speculative Trading for Week of February 9th

My Call on Natural Gas remains bullish at 7.89 as cold winter weather sent many US cities to below zero and demand from investors seems more complacent than just after the Amaranth break up. +26%

Call on Oil doing well thanks to the cold. Gained strongly as funds seem to be increasing exposure once again to commodities, weighting especially in the Energies sector. + 15%

Dow and Nasdaq Puts struggled this week mostly with last weeks losses. Both Indexes closed almost even for the week. Optimism for strong quality stocks and earnings remain but overbought conditions may be present. Ultra Short adds leverage by 100%. Down 1% and 3% respectively

Gold Call strong as metals posted strong rallies due to negative news from Iran, sub-prime lenders and restating of earnings. Oil also contributed to gains. +2.5%

Silver Call in tandem with expectations outperforming Gold for the week, bringing the ratio into 47 territory albeit temporarily. +4%

Added Position:
Lumber Call due to seemingly distressing signals from the housing market, lumber as a commodity seems to be lagging in an oversold condition. Finished +3%

Portfolio would have a current return of +7.7% (up 2% from last week)



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