My stops have been moved to a break even point on this trade.
Author: s4k
Positions Going Into Weekend
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
CHTR | Short | 9/6/2022 | 396.55 | 377 | 4.9% | |
Total Open Profit/Loss Stocks | 4.9% | |||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
GC | Short | 9/16/22 | 1670 | 1684 | -0.8% | |
ZC | Long | 8/23/22 | 654.75 | 679.25 | 3.7% | |
ZN | Short | 8/24/22 | 117.421875 | 114.8 | 2.2% | |
Total Open Profit/Loss Futures | 5.1% |
Housing Market
The housing market seems to be letting up.
I do not think we will see a 08-09 housing type crash where prices year over year went down 30 plus percent. But over the next year there will be better deals for buyers then today.
Possible Trades
Not much to report.
Natural Gas appears to be making a H&S top.
Lean hogs is making a rectangle. I will take the trade in either direction.
Gold-Going Short
The weekly chart shows gold breaking down from its rectangle. I am short with a stop at 1705 and a target of 1380. This is a small short position. I have the feeling this will be a bear trap and we are at a bottom in gold.
Flat the Yen
I have exited the Yen short position. My target was 0.00675 but I do not want to roll over to the December contract. I reenter on the short side with a test of the 14 DMA.
Long the Peso
I am long the Mexican Peso (December Contract) with a stop at 0.04919 and a target of 0.05122.
The continuation chart shows a small rectangle continuation pattern. The fact that the Peso has been moving higher even with a higher US dollar makes me like this trade.
Food Shortages- Not Going to Happen
About 90% of what I read online is complete junk. I take breaks reading the junk here and there. But I can’t help myself sometimes. There is a website called “The Economic Collapse Blog”. I visit it once in a while for comic relief. The latest article talks about food shortages in 2023. He starts off the article as most would. Promoting fear.
Things are far worse than you are being told. Over the past few months, I have been carefully documenting facts that show that global food production is going to be way down in 2022. Unfortunately, most people out there don’t seem to understand that the food that isn’t being grown in 2022 won’t be on our store shelves in 2023. We are potentially facing an absolutely unprecedented worldwide food crisis next year, but the vast majority of the population doesn’t seem very alarmed about this. So I would encourage you to help me get this warning out by sharing this list with as many people as you possibly can. As you will see below, we now have so many data points that it is impossible to deny what is coming. The following is a list of 33 things we know about the coming food shortages…
Let’s take a look at the first nine facts:
#1 The hard red winter wheat crop in the United States this year “was the smallest since 1963”. But in 1963, there were only 182 million people living in this nation. Today, our population has grown to 329 million.
#2 It is being projected that the rice harvest in California will be “half what it would be in a normal year”.
#3 The U.S. tomato harvest will come in at just 10.5 million tons in 2022. That is over a million tons lower than a normal year.
#4 This will be the worst U.S. corn harvest in at least a decade.
#5 Year-to-date shipments of carrots in the United States are down 45 percent.
#6 Year-to-date shipments of sweet corn in the United States are down 20 percent.
#7 Year-to-date shipments of sweet potatoes in the United States are down 13 percent.
#8 Year-to-date shipments of celery in the United States are down 11 percent.
#9 Total peach production in the U.S. is down 15 percent from last year.
I click the link to each of the nine facts. They link back to the same MSN article which is written by Laura Reiley. I find it humorous that a right wing website is linking back to an article written by a left wing political hack.
I also found it interesting that fact #1 is very specific about hard red winter wheat. All of these facts smell like a classic media trick: factual but not relevant. So I go to the USDA website and decide to plot the data for all wheat supply quarterly going back to 2007. Not just cherry pick hard red winter wheat.
Lo and Behold, total wheat production is just about near its all time high.
As long as prices are allowed to function there will be no food shortages. If there are food shortages, it will be because of government imposed price controls. The same author wrote similar pieces about food shortages dating back to 2011. You can read one here.
Prediction: In the year 2023, you will not experience food shortages if you live in the first world.
Positions Going Into Weekend
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
CHTR | Short | 9/6/2022 | 396.55 | 407 | -2.64% | |
Total Open Profit/Loss Stocks | -2.64% | |||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
6J | Short | 8/23/22 | 0.007326 | 0.007 | 4.33% | |
ZC | Long | 8/23/22 | 654.75 | 682.5 | 4.24% | |
ZN | Short | 8/24/22 | 117.42 | 115.5 | 1.64% | |
Total Open Profit/Loss Futures | 10.2% |
Flat Crude Oil
I had my stops moved up to cut my risk in half. Got stopped out for a small loss. I may go short again if it starts to roll over.