- This post perhaps late by 2 days, after the trade has seemingly bolted. Still, I believe market always give you a 2nd chance to enter so now am on Corn short watch.
- Not the usual kind of trade I like to make. This is more of the sell top of range variety, whilst I am a declared die hard Trend Follower (ie buy high sell higher) here.
- Monthly : Lots of selling tails formed above 760. Suggests to me natural consensus is that >760 is overpriced.
- Weekly : Same as monthly. Attempt to break above previous triple top is failing so assume top of range being formed. Also key reversal candle in the making this week.
- If I am right about this, then reversion to 600 or below is likely.
- Mission now is to try to get short at level where 600 target vs say, 760 stop makes sense. [Last at 723].
8 comments:
-738
So, you are basically betting against the MS commods team...
:)
Nice, I like...
+703.25
Taken profit. +4.7%in 3 hours. Take it and be happy.
How are you Don? Long time.
"Taken profit. +4.7%in 3 hours."
Fantastic!
And looks like you are turning into a short term trader...
Commodities, especially the ags, have been incredible the last few weeks. Trying not to get distracted by looking at too many instruments, and just focus on my usual suspects. For me, need to harvest the volatility when it presents itself.
Been alright, can't complain (actually, can complain and have been, but trying not to! :P).
Just the usual stuff that Everyman has to deal with...
Thanks!
Trouble free living is a rare commodity. "This too shall pass away" helps me deal with the extreme ups and downs.
Hope to see you here more often Don.
"Trouble free living is a rare commodity. "This too shall pass away""
Indeed. Thanks.
Heh, I have mostly nothing useful to say and am trying not to overstay my welcome, and annoy people too much with my conjunct-ed avowals and fragmented ramblings. Will restrict myself to doing that at other places...
:)
But much thanks for your great postings and sharing-s all this while!
At 770 now due to bad weather report. Close shave.
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