Algokid

Sanderson Farm - Corn play

Long
BATS:SAFM   Sanderson Farms, Inc
328 views
SAFM got hit hard with the current high corn price this summer. The stock has a negative Correlation of -85 % with CORN / CORN futures . Since I'm bearish on CORN prices now. I believe this stock will benefit from lower price. Enterering a Long postion @ 37.06, with stop @ 34.50.

CORN Short play here :

Comments

stop hit @ 44.01, trade is close with a 18.75% profit.
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moving Stop to $44.01
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Great play!
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Algokid mrd2015
Thanks for the feedback :)
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moving stop to 42.83
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up 19.74 % on this trade, very happy about it.
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locking some profit. Putting a STP @ 41.27
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Agreed.
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Well done Algo! Unfortunately i did not make this trade. Keep posting.
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Algokid charttrader
Thank you Chart trader
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