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Aren't we supposed to sell new lows, buy new highs? "The trend is your
friend" (until it ends)
Al Taglavore
snip-snip-snip...
Steve Karnish wrote:
>
> List,
>
> Corn and beans came in with the year's lowest consensus numbers:
> Corn=25.0 & Beans=22.2. In fact, I scanned back through 1997
> and 1996 also and there's nothing that comes close to these
> numbers on the downside. This type of bearish sentiment
> inevitably sparks a rally. Anybody notice the dollar "tanking"
> on Friday? The $ index gave back every stinking penny it gained
> since June 19th. Boy, I just hate to talk these funkymentals,
> but our grain just got a little easier to buy after Friday's
> action in the dollar. When bullish consensus falls to these
> levels, the interpretation is that there is no one left to sell.
> The stock market is stealing all the headlines, but the
> commodity index made new 21 year lows on Thursday and Friday.
>
>
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