|
PureBytes Links
Trading Reference Links
|
Hey Adam, thought I'd throw in a few cents worth on this one too, FWIW.
Understand your thinking on the grains, pretty good argument that an impulse
move might have gotten started here, too bad all the weather scare might be
clouding our judgement. One thing of interest that has me shorting wheat at
yesterday's close and today just after open is the current chart pattern.
DiNapoli calls in Railroad Tracks in the Country. If you saw how it topped
Silver last May, Sugar last June, and Rice two days ago, you'll recognize the
power of the directional change is suggests. To counter this thinking, and get
right again with the trend if in fact it is the beginning of a runnaway bull,
I've buy-stopped the Dec Corn high signal-reversal of two days ago. And I've
got a tight stop on my wheat short on the assumption that it either is this
DiNapoli pattern or it is not, and doesn't need a big stop thereby. In this
fashion I'm positioned, I hope, to let the market tell me which way it wants,
and not my forecasts, nor even the weatherman's forecasts. I don't know about
his track record, but strickly speaking for myself, my track record is perfect:
I've never actually been right. ....but I do pretty good in the markets
anyway. <g> Good luck with your decisions.
Mark S.
Von Hef wrote:
> Steve and Claud,
>
> I also appreciate the contributions you guys make to the list.
> I guess I should learn to exercise more patience like you Claud,
> but inevitably I find myself in and out with the momentum indicators
> in the direction of the trend. Perhaps if I can learn to trust a system
> such as Steve's, I can feel a little more confident going against the
> trend. I have also been watching wheat for weeks and at this stage
> of speculation, believe this could be a big move to the upside.
> Later,
> Adam
>
> ----- Original Message -----
> From: Claud Baruch <ClaudB@xxxxxxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Wednesday, August 04, 1999 5:29 PM
> Subject: Re: Wheat........
>
> > Steve,
> >
> > I waited many months for what's happening now in wheat. I'm not an in and
> out
> > trader
> > but exercise patience to initiate positions. (long or short). Happy to see
> the
> > money
> > you made with the calls. I have quite a few myself and while I too,
> thought
> > Tuesday's
> > action was a near term top, I'll sit it out through the correction. I
> think
> > there's much
> > more coming.
> >
> > I've had the wheat chart posted at my little website for quite a while now
> and
> > things
> > seem to be falling (rising) into place.
> >
> > Thanks for your comments.
> >
> > Claud
> >
> > Steve Karnish wrote:
> >
> > > Adam and Claud,
> > >
> > >
> >
> > --
> > http://pw1.netcom.com/~claudb/
> >
> >
|