On October 8th , I looked at being short around the 13,500-13650 level with a down side target at 13,200, with a possible flush down to 13,118. Today we went to 13,208, just one tick below the November 12th low at 13,209. We...
Read MoreYesterday’s close was not very impressive in the grains, given the fundamentals of the number. Other than the initial push up in corn to try to move up 40 cents, the beans looked suspect. Today we have corn down 10, wheat...
Read MoreBeans did not settle that well considering the initial rally up. Corn couldn’t take out limit. This is making me believe we could have a replay of the last USDA, where traders got bulled up after the number, but the market...
Read MoreFirst Blush, numbers were not that bullish. They raised the yield. They also raised exports. Corn up 24, Beans up 20 but had been up as much as 35. Wheat is up just 8 cents after being up 20 early. Looks like another light...
Read MoreWe have had a drastic decrease in volume and open interest in a lot of commodities across the board. Cattle is a classic example, and I look at a contract like cattle like the canary in the coal mine. Its not widely followed by...
Read MoreThe past two days have been interesting. Two major daily papers had headlines touting increased risk of world wide economies slipping back into recession. This morning, Oct 9th, we had Chinese banks increase liquidity. This was...
Read MoreFriday’s high in Dec Dow was 13,599. Today’s holiday low has been 13,475. No change in my opinion. I think you have to be short here, with protective buy stops. If you are bullish, I’d be flat, but looking to...
Read MoreI have known Rick Santelli for about 15 years. He’s a smart guy. Interesting that he had predicted an unemployment number today at 7.9… The number came in at 7.8. Anyone over 30 with a pulse knows the much bandied...
Read MoreBeans up close to 1666. Corn up close to 7.70 in CZ Manage winners. the SX 1620 calls are trading near 20 cents. Most were bought for 13 to 14 cents. Look at selling 1/2 of the position if SX trades to 16.00 Gold is within 7...
Read MoreToday I like buying SX on the fact that $15.18 1/2 back held after a test of $15.04. SX rallied up to $15.43 today. I like buying futures or spending 13 to 15 cents a bushel on SX $16.20 calls. I also like buying some CZ 7.70...
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