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With Crop report due Friday in the AM.....I decided to flatten the
acct....and take another look tomorrow....avoiding possible
limit moves down....and missing possible limit moves up.
Long from 267 3/4 ....I entered a sell at 273 or MOC (market on close)
OCO (one cancels the other) having raised the open sell stop
to a break even 268 1/2 ...seeing that the market was trading
at 271 1/2 at the time at 1:40
I should have left well enough alone....at the market closed at 273
on the day.
However, when it pulled bact to 2.70 ....we exited the market
favoring a slight 2 point (bird in hand profit) to break even.
I'll take another look at this market after it reacts to the crop report.
273 was the L1 level projected for 9/17
We score this one a win....as we get to play another day.
For those who don't have real time pricing....the charts of corn....
even on a delay basis from AOL are a big help.
In retrospect, I should have given more weight to the possible influence
of coming report and not entered trade in the first place.
Time will tell and so will William,
Cheers:-)
GerryB/jer33:3
learner/teacher
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