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Sorry if you get this twice. I made a mistake and then lost track.
Message-ID: <33C7F0D7.705E@xxxxxxxxxxxxxxx>
Date: Sat, 12 Jul 1997 14:02:15 -0700
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
Reply-To: nwinski@xxxxxxxxxxxxxxx
Organization: InfiNet
X-Mailer: Mozilla 3.0 (Win16; U)
MIME-Version: 1.0
To: knox1@xxxxxxx
Subject: Re: FUTURES: Dec Corn
References: <33C7BDE1.5880@xxxxxxx>
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James Knox wrote:
>
> It looked like a down hill race ... now things are somewhat interesting.
> Does anyone see Dec Corn still hitting prices of $2.00 - $1.90.
> The USDA report on July 11th estimated this year's crop down from its
> June estimate. Even so, the crop is still estimated at 400 million
> bushels bigger than last year. So while the estimate is down - the
> overall net is still up. Given the rainfall that is hitting the crop
> this weekend, you would think that prices would decline further on
> Monday. I still see the market as bearish, even though signals are
> alerting the upside. Any thoughts would be appreciated
>
> Thanks,
> JAMES
James,
In this case the axiom should be, sell the rumor, buy the news.
You should pay attention to what the market is telling you and not to
the govt. and the BS news. Anyone remember how there were no Soybeans
and that we were facing a critical shortage, just 6 months ago? A better
way to go is to study cycles. Watch Aug. 15-18 for a good change in
trend for the grain complex. Which way? I knew you were going to ask
that question. The answer is that we will just have to wait until we
get there. If the market is down into that period, I will be inclined
to buy. If the market has rallied into that period, we we be inclined
to sell. Check back with me circa Aug. 13-15 for an update.
Presciently,
Norman
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