Re: (Market) Jul Corn

["Walter Lake" <wlake@xxxxxxxxx>]

Hi Adam and Steve

So what's going to move the market down?

weather? -
demand? -
supply? -

If liquidation starts, you've got 93,000+ longs that are going to need to be
"flushed".

So why are the funds sitting with such a huge long position? Why are they
still buying ... 4,000 yesterday?

Best regards

Walter

----- Original Message -----
From: Adam Hefner
To: metastock@xxxxxxxxxxxxx
Sent: Thursday, April 20, 2000 12:38 AM
Subject: Re: (Market) Jul Corn


Steve,
        I Sell at a close above 237.75 (I think that is what you mean)
really plays along with the rules of the current
market condition (congestion). I would have normally called a signal along
these lines, but was torn between this
congestion action trading and the break-out signal on the 17th. Always enjoy
your market signals.

Adam

----- Original Message -----
From: Steve Karnish
To: metastock@xxxxxxxxxxxxx
Sent: Wednesday, April 19, 2000 8:27 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