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I like to trade in the direction of the fundamentals (and technicals). Discussion and understanding of the state of the bubble and the economic mismanagement in place can keep you out of trades that may cost you dearly. It helps put the risk/reward in proper context. If the general economy is not applicable, I don't know what is ? Your "feelings" on the price of potatoes ?
---- At 11:27 AM 10/6/99 -0600, Earl Adamy wrote: >>>> I've been monitoring grains for a possible long position. I'm curious as to why you would want a weak close to trigger long in wheat and corn? Corn appears to have completed a possible 5th wave decline with two closes under the 78% retracement which isn't terribly bullish. Of particular note in corn is what (so far anyway) is a very tight double inside day setup. Beans have a clearer wave structure however the 5th wave appears to be incomplete. Meal is interesting looking. Can't make up my mind about wheat. Earl ----- Original Message ----- From: Steve Karnish To: List ; title=metastock@xxxxxxxxxxxxx>metastock@xxxxxxxxxxxxx Sent: Wednesday, October 06, 1999 10:22 AM Subject: In lieu of crash(trash) talk List, From time to time, traders actually discuss "real" trades on this forum (the current sugar debate). This is a really great "idea" that should be explored on a daily basis. Think of it: a place where "realtraders" can exchange "real trading" ideas. It's a concept that could catch on. For those who monitor real trades in the grain market: 9/29: Went short: corn (214.75), oats (116.00), & wheat (286.50); (December contracts) 10/6: Covered and went long oats (110.50) 10/7: A close below 203 in Dec. corn and 262.25 in Dec. wheat triggers long positions tomorrow. This has little to do with the crash of '29, Alan Green"spun", or all those "politicos" conspiring to make my life miserable in the gold market. But, guess what? Real people are in these real trades, making real money, not letting the "news" influence their approach, and they are certainly not sitting around theorizing about the rise and fall of US economy. Steve Karnish Cedar Creek Trading http://www.stny.rr.com/abbracadabra/cybercast/
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