Note: I would pair trade AAPL. Since the same scenario happened at the top at 700. Everybod tried to pick the top..
Everybody is now trying to pick a bottom.
So pairtrading it with some other asset class or stock would be a good idea.
Technically crude is at an 61.8% retracement + at decending TL
Corn is breaking a minor decending TL to the upside, and has been at a 50% retracement
On the backdrop for Corn we have historical USDA low usage of corn stocks ratio, and a very big reversion in the ammount an avarge corn bushel yields x arce farmland down from 2009 about 34%!!
+ seasonality for corn...
The elections on Sunday, could very well be a buy the rumor sell the news type of event. The markets have priced in the postive outcome of a dramatic Monteray policy change to further easing. On a technical basis, the USDJPY is the driver of the market, correlation is 1.0 with the NIKKEI 225. so any selloff in the near term will obviously affect the NIKKEI 225....
If you're playing the silver short outright, it's good R/R. But the pair trade Short Silver, Long Soybean oil. Looks like it has legs. Usually a nice correlation, that was broken up. My thesis is that these two will revert. Pair trades like these can have monster legs.