Sold SBV8 for a loss of $795.20

I sold my sugar position today for a decent size loss. I still love the long term fundamentals of sugar but, I don’t have the capital to wait for it to bottom. Maybe I’ve finally learned that buying a market trending down sharply is a bad idea no matter what the fundamentals tell me. I plan on re-entering this trade when it moves strongly through the 50 day moving average.

Trade synopsis: Bought SBV8 11.68, Sold SBV8 10.97, for a loss of $795.20

I don’t mind taking $700- $1000 losses on trades because I want to avoid the monster $15,000 loss that will cause severe damage to my bank account. My stated goal is to catch one or two long term market moves per year (I can pyramid) that will make up for all the small losses and then some.



Yesterday I went ahead and bought one US Dollar Index future as it closed above its 50 day moving average. I will probably add another contract if it breaks out of the previous peak around 74.00. I will post later on my fundamental reasons for thinking the dollar may finally be turning up since beginning its fall in 2001.