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Hi Steve
long Wheat / short Corn ... I assume CBOT? ... which months? ... WZ/CZ?
MRCI doesn't list it. Lots of long Corn / short Wheat however. See attached
for a sample. Other private traders' lists don't show it either.
What's going to move it?
Best regards
Walter
----- Original Message -----
From: "Steve Karnish" <kernish@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Thursday, April 20, 2000 1:09 PM
Subject: Re: KW0K/KW0N
| Walter,
|
| I way too much of an idiot to figure out the internal goals of the
| commercials. I could guess about what "flat price volume" is, but quite
| frankly it would be pure, dare I say: "speculation". "Fun-DAH-mental-ly"
I
| have the knowledge of a third grader (and some 8 year olds, born into farm
| families, probably have a better understanding). I guess this is all easy
| to rationalize by saying that all fundamentals end up in the price. I've
| traded stocks for years by the "symbols" and couldn't even tell you what
| many of the companies do to create revenue. Give me the price history and
| I'll render an opinion. Over the years, "thinking"
| has gotten me into a lot of trouble. So, sorry I can't answer your
| question. You still haven't told me: what do you think of long wheat,
| short corn. I currently have my largest spread position in twenty five
| years. Am I going to have to slap Dick Gephardt around to make sure that
| China gets favored trade status. I understand that the largest wheat
| growing area in China is currently at 9% of normal measurable
precipitation.
| Any thoughts are welcome.
|
| Take care,
|
| Steve Karnish
| Cedar Creek Trading
| http://www.cedarcreektrading.com
| ----- Original Message -----
| From: Walter Lake <wlake@xxxxxxxxx>
| To: <metastock@xxxxxxxxxxxxx>
| Sent: Thursday, April 20, 2000 6:30 AM
| Subject: KW0K/KW0N
|
|
| > Hi Steve
| >
| > In the KC wheat markets, I know that most of the spread activity is in
| > rolling May positions into July.
| >
| > But, why would FIMAT put on 500 K/N bull spreads and then turn right
| around
| > and put on 600 bear spreads N/K all in the same day?
| >
| > Also ... do you know what "flat price volume" is?
| >
| > Thanks for your help.
| >
| > Best regards
| >
| > Walter
| >
| > ----- Original Message -----
| > From: Steve Karnish
| > To: metastock@xxxxxxxxxxxxx
| > Sent: Wednesday, April 19, 2000 9:27 PM
| > Subject: Re: (Market) Jul Corn
| >
| >
| > Adam,
| >
| > Although all the "troops" are in May, I would be a seller of July on a
| close
| > above 287.75. Also, take a hard look at the wheat/corn spread (basis
| July)
| > under 30 cents. It has a bunch of potential. I put a bunch on at 27.25
| > today. Could be a big "wiener".
| >
| > Take care,
| >
| > Steve Karnish
| > Cedar Creek Trading
| > http://www.cedarcreektrading.com
| >
| >
| > ----- Original Message -----
| > From: Adam Hefner
| > To: metastock@xxxxxxxxxxxxx
| > Sent: Wednesday, April 19, 2000 3:34 PM
| > Subject: (Market) Jul Corn
| >
| >
| >
| > Since corn has reversed back up and remaining in the congestion area I
| will
| > exit the corn sell signal tomorrow with a MIT
| > at 235.1 (provided that is hit before my buy stop at 239.5). Not sure
this
| > is the best way to handle it but if my MIT is hit
| > I will take a little .05 cent loss, if my stop is hit..a 5 cent loss.
| > Comments anyone?
| > Adam
| >
| >
|
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