Crude Oil Gushes

Crude Oil rose sharply again due the perception of less world supply. It rose over $2.00 per barrel to nearly $80 per barrel. As of the time of this post, it is trading overnight on the Globex for over $80. Just as an aside, gasoline prices lag crude oil prices, so if this trend continues, except to pay more to fill up your car over the next several months. Since our signals have us long both the future and the ETF, both positions surged ahead.

We shorted corn last night reluctantly, and it fell sharply, then rose to stop us out with a gain. This was only a futures position. We bought copper, it rose then fell, and we were also stopped out with a gain.

Finally, we are embarrassed by the last result. The bottom dropped out of sugar. The futures loss was small compared to the gains in crude oil, corn, and copper. The net was about $2000 for the day. However, the sugar ETF fell a whopping 5.9%, so our ETFs lost money on the day. This is a paradoxical situation. In the future, we will not put on any ETF system with a stop deeper than 2% or 3%, even if the future stop is small. We can simply take the future trade and ignore the ETF partner. However, for BLOG-tracking purposes, we recorded the large percentage loss this time, since that's the way we put it in the BLOG. As you may know, the loss was applied only to 20% of the computer-generated portfolio, so its effect was "diluted." Likewise, the gain on crude oil was equally "diluted."

Our overall return for the first nine months of the year is over 10%. Our "official" results will be released over the weekend or early next week if all goes well.

There are no new signals for tomorrow.

Our active portfolio and closed-out positions appear below.

PORTFOLIO SYMBOL ENTRY CLOSE STOP PROFIT DAYS

Long Soy Oil BOZ10 40.86 45.09 42.23 $2,538 24
Long Zealand NE1U10 72.90 72.97 71.45 $70 16
Long Zealand BNZ 23.36 23.38 22.89 0.1% 16
Long Crude Oil CLX10 76.47 79.97 78.63 $3,500 4
Long Crude Oil OIL 21.93 22.78 22.40 3.9% 4

Crude Oil Profit Target 85.57 limit
24.38
85.00
24.21

Note: some of our systems have a profit target or other exit criteria. Crude has been so volitile, that I decided to publish its target now. I also show below the psychological (integer) level target and its ETF companion for reference.


Have a great day!

If you wish to be notified of new posts, let me know at bassanalytics@live.com. I will send you an email every time there is a new post.Any views expressed herein are provided for informational purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest. Past performance is not indicative of future results. Investors should discuss any investment with their personal investment counsel. The quotes and symbols used in the BLOG are believed to be reliable, but no guarantees are made with regard to the accuracy. We may have positions in one or more of the ETFs or futures of the computer-generated signals.