|
PureBytes Links
Trading Reference Links
|
Scaletrade@xxxxxxx wrote:
> Earl,
>
> I believe you were the one who posted 2-3 days ago that you expected several
> thousand dollars in gains in the grain complexes, per contract, over the next
> 2-3 years. As one who finds it hard not to take a profit when it presents
> itself, I'd be curious to know how you plan to play it. Are you making a
> position move and just going long the dec 2001 corn market, for example, to
> wait it out? Or do you plan to jump in and out of the market many times over
> the next several months to years, based on technical considerations?
>
> I'd appreciate any comments. Thanks,
>
> Larry,
You may remember that I posted that I was long term bullish on Soybeans a
few months ago.. However, my cyclical analysis shows the probability for a short
term high in this time frame. Specifically, I was expecting a high on the Jan. 6
New Moon or near the close of Jan. 14. Obviously were are past the highs of Jan.
6. The next event is Mercury Conjunct the Sun on Jan. 15. This usually causes a
good short term rally, as witness this week's action, in the grains,
particularly Corn & Beans. It's energy can build rather quickly. But, it also
dissipates even faster. Characteristic action would be a sharp rally in the
grains tomorrow and a short term top either on the close or Monday's opening.
Given that I expect a short term high, my strategy, if I had no position,
would be to buy a minimum core position on a pullback, probably around 1/20.
Then wait for a better cyclical low in mid February to add to your longs. The
core position is your insurance for being long a depressed market that may have a
tendency to jump gun on a Bull run. This way, in either case, in the long run,
you should make money.
Soy Long,
Norman
>
>
> In a message dated 01/13/2000 8:42:40 AM Pacific Standard Time,
> eadamy@xxxxxxxxxx writes:
>
> > For anyone who is working March Corn, it appears to be setting up a bull
> > flag with a projection to 224 which has confluence with the 50%
> > retracement from the Aug99 high. A break below 213-6 would likely void
> > the setup.
|