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My July-12 Strategy Review

Time to pay the dues for July predictions. So, here it comes...

Soybeans - I am busted again. Soybeans follow common pattern of grain sector and refuse to fall. Very well, the time will come. I did not lose much this month and I will wait for the drought to end. Everything ends.

Cocoa - I quit my position soon after that negative EU grinding report. I saved my profit but should I resisted the fear I would earn even more. But I panicked. Anyway no regrets - what done is done and more important - done with the profit.

Coffee - that one disappointed me a bit. I opened long position and my holding lost 10% of its value (I own leveraged ETF so my losses are higher). However, fundamentals are intact - coffee will rise so I used the drop to buy more and smoothen the loss.

Heating oil - I was correct saying that HO will start getting steam. Congrats.

Natural Gas - this baby is beatiful. Commercials keep falling, BAKEGAS index keeps falling too, the price is rising. Ignore pundits predicting the change of trend any time soon. Correction - yes, change of trend - no.

Feeder Cattle - I did not buy it. COT picture for it did not improve.

Soybean Oil - in my opinion BO is consolidating for a big move. I have a small bet on it.

Lean Hogs - COT picture did not change much. But, but... The heat, high corn prices push livestock owners to slaughter more livestock and more meat is coming to the market driving prices south. I am still interested.

Wheat - I sold my long-term wheat ETFs, booked hefty profit and continued trading futures on short-term basis. I love this drought!