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Experienced RTers might well find the following
piece of information "obvious", but struck me as
good thing to know (it had certainly never
occurred to ME) and I'm posting it for the many
novices out there. This is exactly the kind of
"psychological" (??) analysis I'm trying to get a
handle on. It pertains to yesterday's action in
the corn.
"In spite of a higher opening call, prices opened
lower and eroded from their. This inability to
open higher is negative in that it implies that
there were more than enough bold sellers who were
willing to try to take advantage of higher prices
to get short, or that longs, tired, bruised and
battered, were looking for a higher opening to
escape further losses. Traders should watch this
type of activity as a general rule, as it often
tells you what sort of day you might have.
Openings that do not meet their calls should be
viewed as a warning."
Author:
Commodity Review And Outlook M. Steven Morgan
800-634-3194 www.commodityreview.com
review@xxxxxxxxxxxxxxxxxxx
You can get Morgan's analysis free through Proview
from http://www.futures.net/
Happy trading,
Philip
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