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Norman,
The charts are saying grains should be a double over the next few years
.. better odds than stock market but getting there is another matter.
The advance in the grains have been interesting but still more
suggestive of correction than impulse e.g. soybeans have completed two
outside bearish reversals in the last 10 days or so. OOH, they do seem
to be on the cusp of breaking out from many months of bear channel.
Looks to me like they will need another leg down. What's your cut?
Earl
----- Original Message -----
From: "nwinski" <nwinski@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, December 17, 1999 1:15 PM
Subject: [RT] Re: Wheat and or Oats?
>
>
> Ftiz@xxxxxxx wrote:
>
> > Any one have any feelings about the direction of Wheat and or Oats?
> > Thanks,
> > Patrick
>
> Look at long term charts, i.e. 30 years. Look for the lowest low
for
> each market. My recollection is that Oats got near 80 cents in about
> 1992. I think the low for Wheat was near $1.80. Corn hit approx. 1.60
> circa 1985. I think Soybens made their lowest low at 4.05 in JULY
1999.
> Relatively speaking, ,
> these markets are about 10% above their 30 year lows. Personally, I
> prefer being long Soybeans because it usually provides more bang for
the
> buck and I thnk the chart pattern is the best of this group.
Bottomline,
> these markets are basing for major bull markets.
>
> Cheers,
>
> Norman .
>
>
>
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