30 March 2012

Corn : The Big Miss

  • Big opportunity missed during my cooling off period.
  • Weekly : SHS top formed between Feb11-Aug11 = Uptrend reversal. Multiple pull-backs to the NL at around 666 since.
  • Had order to sell a token 1 lot ZCK2 at 657.50 last week. Narrowly missed fill with high made at 656. Closed tonight at 603.50, an 8% decline in a matter of 4 days. Did not chase the move down as I was on self-imposed trading ban.
  • Need to include 1 more possibility to my list of eligible trade-entry criterion - on pull-backs to reversal break-out points on weekly charts (in this case, pull-back to neckline after SHS reversal on weekly formed).
  • See next post on US Ten Years.

1 comment:

Taichiseal said...

Holy cow! Limit up 40 cents (+6.6%) at 644 today after USDA report showed lower than expected corn crop.

Pretty sure I would have been selling more on way down if I had been involved from the start. So - blessing in disguise in the end not to have been filled in the first place.