ZC is starting to feel choppy in this area so we are taking off our long position at a small loss. Like we mentioned, this could chop until harvest starts. We will keep her on the watch list. NEXT!
Wow...this is going slow. We mentioned that this could chop until harvest begins. Smells like this happening. If it chops for another week we will cover our position and wait.
Corn is holding on and it's now go or no go. Corn could start to go sideways until harvest begins. We are watching this very closely. We are still long and will stop out with a close in the descending wedge.
Corn still acting well. Back to the break out area is normal. If it breaks down from here we will most likely see more downside. A bounce from here should test the most recent swing highs.
This is one of our favorite patterns. It usually suckers people into believing we will see more downside. The larger players will usually dip below the wedge and get new shorts stuck and then squeeze them. (similar to Corn recently) If they break it to the upside we should see a quick move due to weak shorts being stopped. This is high on our watch list.
Corn is still acting well. We were able to take off half our position this AM. We didn't quite hit our first target at the gap fill but captured some decent profits. IF price closes inside the descending wedge we will be out for a small loss and will look for another set up. Stay tuned!
Corn is working well. As an FYI this (ZC1!) is the continuous contract and is priced a little different than the DEC contract. However, the patterns are still the same and they are both working well. We are still long and looking for the gap fill (on continuous contract). We could see some sideways to down movement over the next few days before we start to...
And there she is! After the crop report the boys decided to give a little head fake and run the stops of the weak longs. Now if we get above the 362.2 we could see a nice squeeze would could pop us. We are long and will be holding for the gap fill. Understand we are not fools at OFT... we can read. We understand that the agency is calling for a record 14...
AUGUST crop report is due out this morning and we are watching. There isn't a lot of markets to be trading at the moment but that's summer time trading. However, with happenings in Russia there could be some movement in the grains. We are watching to see if they push things down and get later comers short in the hole before squeezing them. We would like to be...
The beans are a bit long in the tooth. A topping pattern is playing out. We want to be short (small size) for a short term reversal.