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Norm,
FWIW the following is something I sent to a friend this past weekend on
beans (if he wants to share his reply, it is up to him though). It was for
the "new crop" Nov. beans but the charts are very similiar as far as the
point being made, or better said suggested.
Also last year this trade did not work (Mercury retrograde stuff). I know I
took it long 4.80 area (on a what the heck trade) and it was only briefly
profitable, then they headed south as I recall, can you confirm? But I
think on that one you were looking for a rally though, which is different
than your statement that "Mercury retro is normally a high" so maybe you can
clarify this a bit (call me cosmically confused here I guess)?
Anyway, AGET says for now 5 waves are in but I am not convinced (minor wave
4 compared to the previous minor wave 2 looks unconvincing) leaving open the
possibility the recent rally was only "the real" minor wave 4 and the minor
wave 5 of Wave 5 is yet to come (down?). See the chart, hopefully it is
selfexplanatory (no pun intended).
Also there was ADM news out today on their new osteoporosis product tied to
soybeans which may have some influence on prices (but I believe the soy
connection is old news).
don ewers
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: "Earl Adamy" <eadamy@xxxxxxxxxx>
Sent: Tuesday, May 29, 2001 7:04 AM
Subject: Nov. Beans
> FWIW this current move on "new crop" beans could be the real minor 4 of
wave
> 5 not the start of a turn (forming an ABC pattern, note the previous minor
4
> when compared to the minor 2, it is unconvincing to my eye). We could be
> seeing beans in the low 4's and possibly the a 3 digit?
> don
>
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