21 February 2011

Grains : The Good The Bad The Ugly

  • Different technicals of Corn, Soybean and Wheat.
  • Only position in Grains : Short Soybean. Intend to establish short in Wheat as it is the best trade of the 3 in terms of technicals.
  • Corn : Ongoing parabolic rise. Bullish. Extricated myself from long position and not regretting even if it is a bit higher. Would not want to be caught when a vertical chart like this turns.
  • Soybean : Monthly reversal possible. Weekly evening star + UpTL broken. Bearish.
  • Wheat : Monthly reversal possible. Weekly evening star, broken back below significant previous spike high of 841. Daily SHS top. More bearish than Soybean even. I need to get short this.


Taichiseal said...

Sold WK1 at open .. average price 860.75

Taichiseal said...

Taken profit on half of WK1 short at 788.

Taichiseal said...

Squared balance at 787. 7+% move in one day. Take it.