29 March 2011

Wheat : Initiated Short

  • Waited and waited for a rally to sell wheat . When it finally did, I was worried overall IMR usage was too high. Now that IMR is back within my risk parameters (squared some ED spreads which was the largest position here, overwhelming everything else), I have thrown caution to the wind and taken the plunge in wheat. Run out of patience awaiting better entry.
  • Sold Jul11 Wheat (WN1) @ 762.
  • Monthly : Nothing special. Missed the best selling levels. (Actually did sell, but taken profits too early).
  • Weekly : Uptrend reversed.
  • Daily : Double SHS top. Currently in a bear flag.
  • Am looking for 650s on the downside.

1 comment:

Taichiseal said...

Stopped out @ 802.50. Very painful.