|
PureBytes Links
Trading Reference Links
|
Everything is possible in the grains. Corn seems to get through pollination
without an weather related problems, but anyway, if beans rally on weather, corn
will follow. Having temps in the 100+, only the sky is the limit, but only one
forecast without heat and it breaks again.
Technically it looks like we could see a rally. Everybody compares this year to 83
and there we did go crazy in August. (not we exactly, as I went to school and
thought about serious problems). So maybe weŽll take whatever we need as an excuse
to rally. Fund position is small an nobody wants to get chopped around. So it will
take quiet a move to get them acting in one direction.
Loan rate should be about 525 and without problems weŽll surely go below there,
just makes me wonder where the big break should lead to with less than a buck
downside left. For this to make fun again, we need to see a rally and then wait to
see a weather change......
Anyway, trade small with the weather involved. Joy and pain are very close
together here.
Have fun - Ulrich
Paul Brittian schrieb:
> Yes, grains look very oversold and may have possibly bottomed with
> todays action. My customers have been in bullish and quasi bullish
> positions for a while. We started by entering bull call spreads with
> two naked legs, that is buying one Dec 2.50 call while selling 3 2.90
> calls at a credit of 3-4 cents. After the first rally we liquidated our
> long calls for 29 cents or more and bought futures based on one futures
> for every two long calls liquidated. We added additional future
> contracts on as the market dropped. Over the last few swings we have
> sold on rallies and bought back our positions on dips. We sold fridays
> rally and bought todays dip. In the meantime we have rolled our short
> calls down to 260/270 in a ratio that doesn't exceed our number of long
> positions.
> Paul B
> Warren Goldstein wrote:
> >
> > Hi RTs,
> >
> > I've got a major buy signal in Wheat, Corn and Soybeans.
> >
> > It looks to me like they will all rally sharply for a few weeks, correct for
> > a week or 2, then up into the week after Labor Day.
> >
> > I see potential in Nov. Beans to the 705-715 zone.
> >
> > I'm accumulating here in the 580 zone, and expect to buy the rest on
> > Wednesday morning.
> >
> > Stop at 569 3/4.
> >
> > Comments welcome,
> >
> > Warren
|