25 February 2010

Soybean : Sell Stop-in Triggered @ 949.50

  • Feeler trade - single lot SK0 short @ 955.75.
  • Lurking in the background is possible big SHS top on the weekly.
  • Had been monitoring daily (+weekly) for signs of reversal to the downside. We have that at the opening today, but still need weak close to confirm. Shoot first. Worry later.
  • Sell stop to initiate fresh short soybean SK0 @ 949.50 triggered. Last 946.
  • Weekly SHS neckline is at around 900. Below that is where the real fireworks begin.

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