02 March 2011

Soybean : Cut Loss

  • Daily SHS NL was broken, delivered decent P&L.
  • Pulled back to NL on Monday, where I re-entered short. Firm price action today has pushed this way above the NL.
  • Not going to hang around and see if the short trade will work, or await better level to cut. Taken my loss now in May at 13.96. There are better uses of my scarce capital.
  • Have also taken my loss in May Sugar at 30.27 today.
  • Price action feels like that of the copper plunge to 427. Now back near 450. Think we are going to make new highs (>462.6).

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