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Looks like the shorts want to take a rest in the grains ... I suspect W
completed a w.3 decline today and should rally for a bit before we get a
final push down. The seasonals are negative into early next year and I don't
think the selling is finished so I'm going to stand aside for whatever rally
we get. Hard to say on sugar but I haven't liked the price action. If
anything, the daily for the last two weeks has the look of an elongated bear
flag which is ready to crack. I've got to see money lying on the table
before I mess with the NY pits, although sugar seems to be the best of the
lot.
Earl
----- Original Message -----
From: Steve Karnish <kernish@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>; List <realtraders@xxxxxxxxxxxx>; Earl Adamy
<eadamy@xxxxxxxxxx>
Sent: Thursday, November 11, 1999 11:03 AM
Subject: Re: My Final Words On Microsoft Ruling (does everyone promise?)
> Earl,
>
> Right on Earl! Attached is daily wheat post and a few thoughts on sugar.
I
> will probably go long wheat in the morning ... if the market stays under
> pressure. Sugar is at a critical area. The 13, 21, and 34 day moving
> averages have been "supporting" sugar (markets tend to be supported by
> moving averages that are trending in the market's direction). The more
> averages in a confined area, usually the better the support or resistance.
> The thing to watch, over the next few days, is without any significant
price
> movement to "drag" the averages up, the 13, 21, & 34 period averages will
> turn down (count backwards and see for yourself). When these
circumstances
> have come together in the past, many times the price will race down and
you
> can not expect a recovery until the averages are able to turn up again.
> This is just something to monitor. It very subjective, as opposed to my
> grain trading which is totally mechanical.
>
> Steve Karnish
> Cedar Creek Trading
> http://www.abbracadabra.com/cybercast/
> ----- Original Message -----
> From: Earl Adamy <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxx>
> Sent: Thursday, November 11, 1999 9:15 AM
> Subject: Re: My Final Words On Microsoft Ruling
>
>
> > I can't claim to be the oldest here because I was only a child when I
> began
> > working with IBM main frames at ITT:Corp 8:00 EST on Sept 10 1962 (37
> years,
> > 2 months, 1 day, and 5 hours ago).
> >
> > My only expert opinion is that we need to get back to trading! Aside
from
> > the SP, BP and Sugar there hasn't been much on the subject. Anyone else
> > trading the short side of grains? Anyone else looking for a possible
short
> > setup in cattle?
> >
> > Earl
> >
> > ----- Original Message -----
> > From: Brent <brente@xxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxx>
> > Sent: Thursday, November 11, 1999 9:31 AM
> > Subject: Re: My Final Words On Microsoft Ruling
> >
> >
> > > We've got to find out who is the oldest (and most experienced) person
on
> > > Real Traders is because he is the only one that can have a valid
> opinion.
> >
> >
> >
>
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