Review Of Open Positions – Futures

It was an eventful week for our trend following system with 5 signals; 3 closing, 2 opening.

We got exit signals for the following positions:

Short 30yrBond ($ZB_F) 2/1 +$93.75 per contract

Long Euro ($6E_F) 12/21 +337.50 per contract

Long Crude Oil ($CL_F) 1/3 -$920.00 per contract

We said at the time that although it can be disappointing to see a position give up most of its gains or even turn from being profitable into a loss, you shouldn’t let that be your reason to exit. As we discussed before here, your only reason to exit a position should be because your entry rationale is invalidated.

We got 2 entry signals as well:

Short Gold ($GC_F) 2/19 +$2,930.00 per contract

Signals at junctures like this when already oversold and at a major support level can often be the hardest to take as we discussed here. It was rewarded immediately however.

As we anticipated earlier in the week we also got a signal to go Long Dollar ($DX_F) which will enter when the futures open Sunday evening:

The remaining open positions are as follows:-

Long S&P 500 ($ES_F) 1/28 +$912.50 per contract

Short Japanese Yen ($6J_F) 11/21 +$19,337.50 per contract

Short Sterling ($6B_F) 1/24 +$4,206.25 per contract