04-01-2013 09:13 PM - edited 04-01-2013 09:21 PM
CX! I still don't know what you were trying to say in that chart pattern if I would put a position on based off it I would wait for a rally to fill the gap and hit it hard. I just see fundmental value in old crop corn at this level, but only have guts to hold a longer term position in the option market with the funds selling it hard.
04-01-2013 09:30 PM
CX! went back and looked at your chart and noticed that I've been talking about old crop July and your chart is the new crop dec. I still don't see your bottoming action if anything with a break out to the downsidewith new lows for the move it tells me to wait for a rally and then sell
04-01-2013 09:54 PM
i'm in calls, as well.
that Dec chart is just 5 waves of longer legs w/ last one supposedly exhaustive, coupled w/ all the other info...like getting so close to last May lows after emergence-we ain't there yet (seeds in bags, etc)...no wutta mean?
everyone has different ideas as to where to enter that broadening pattern...the basis of it is the weaker participants get so sick or bankrupt from being whipsawed so many times they give up......
.......just passing along for the farmers more concerned about the new crop that it spoke good support to me on todays lows -- that's all.........................thx