Currently short cash dow from 12,400 sales. Short oil from 103 and adding to shorts on the panic flush. Thank you copier salesman. If I see you I will give you a gift certificate for dinner in the City.
The US dollar is looking like a the place to be. I have moved protective sell stops up on 2/3 and have taken profits on the initial 1/3.
Ditto on my crude shorts. Take profits on 1/3 of the position.
I think if we get a break in corn down to the 604 level, its a buy. A break to 1275 in beans would be a buying opportunity as well. WN looks like its heading to support at 7.00. 2 1/2 weeks ago we were at 9.50.
One important safety tip. Just because you had the right call and it is profitable, is no reason to get too happy. The plan worked. We made money. Lets manage these positions so we maximize the profits.
Now is the time to re-evaluate. Make sure we get the most out of these winning positions.
On the flip side, I was friendly/bullish corn and beans, against the trend line support. That trend line has been violated, and losses have been taken. I am looking for the next break to buy in the grains.
I have been doing this long enough to know that the market will snap back in your face, taking profits out of your pockets almost out of spite.
Good Trading
CER
