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Rick,
I can give you MY reasons for entering on the 20th, it might be what you
call fungalmental reasons (whatever that means):
Jean Long in her "Basic Astrotech" describes two situations that I found
applicable to Soybeans around Aug 18.
1. Soybeans seems to react to the movement of Mercury (Oh no here he goes
again....)
especially when Mercury goes retrograde Beans have a tendency to change
trend.
Mercury went retrograde on the 17th
2. Beans have a tendency to change trend when Mercury pass 0 and 15 degree
in each sign.
that happened on Aug 15.
3 Grains seems to react to Full and New Moons. Full Moon on the 18th
Norman Winsky has a deeper discussion in the August issue of his
Astro-Trend (which also helped me make a decision).
4 Using Nature's Pulse you find that the bottom on July 7 is harmonically
(PHI) connected with almost ALL major bottoms since 1972 classifying it as
a Major bottom. Hence the direction should be UP.
Then we were ready to watch the action:
On Aug 18 Beans completed what looked like wave 5 of a 5 wave decline from
the top 8/4.
The low of the day (604) was the third hit to the rising (supporting) trend
line from 07/07.
It was also a 78.6% (=603.3) (Square Root Phi) retracement of the rise from
Jul 27.
It was also a reversal day (opened lower than the day before with a new
low, but closed up for the day).
In other words - This could be the Day - and you could have entered an
order for the next day with a stop just below the low of the 18th.
I am a little slow so I watched the 19th as well, which was a gap up day -
to me confirming CIT. Entered a buy order the next day before the opening
presuming a strong market.
However I got LUCKY, beans pulled back to close the gap and I got my option
cheaper than I had expected.
And now Rick, what I have presumed, is that the uptrend should continue at
least to Sep 9 when Mercury goes direct again(see below though).
BUT taking into consideration that Beans tend to change trend at 15 degrees
into a sign and that we are retrograde from Aug 17, we find that mercury
passes 15 degree AGAIN on Aug 23 (Sat). One day after we chaged trend again
(and that's where you got stopped out - perhaps you should watch those
stars anyway?).
So why did we change trend again today?
I don't have a clue.
But the trend line looks strong and also check the potential H&S pattern
from 07/07.
With regard to Sep 9 (Merc direct) we should also monitor Sep 1st with a
New Moon and solar Eclipse.
Also an astro index of 13 (the highest of the year!! (SuperTrader's
Almanac))
Change in trend (85%) or Acceleration (15%)????
I think I will keep my stops close to the market.
For other trades, check out Robert Miner's "Trade of the Week" were he
suggest a spread.
But look at that rising wedge (Bearish) with 2-3 breaks on the upside,
indicating a possible bullish break-out. During 1997 we have had several
such break-outs on the "wrong" side with explosive reactions. Sugar looks
tempting.
Any suggestions?
regards
stig
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> Fra: Rick_Ratchford <ricrat@xxxxxxxxxxxxxxxxxxx>
> >
> Talking about being baited! Lots of ho hum in Soybeans the last few days
> but all indications indicate that this market is primed for a good move
> up.
> I've thrown everything I have in this one in the way of technicals and
> and cycle work and she should be budging soon.
>
> Sadly, I underestimated her and ended up stopped out by 1/4 point!
> That's right, 1/4 point from the very low to watch her go back up 3
> cents plus and then close.
>
> Well, needless to say, I'll be looking to find a place to get back in.
> But if this puppy tries for that low and moves it one more time, I'm
> looking elsewhere for my next vacation money.
>
> Any Fungalmentals anyone wishes to share? :)
>
> rick
>
> --
> **** http://FSoftPublishing.com ****
> Market Of The Week Forecast
> http://FSoftPublishing.com/forecast/forecast.htm
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