Sold off positions on the way up today. Was kind of worried about a sell-off at the 610 level so cleared out all positions. After the price peaked at 619 it looked like it was safe to re-enter and did so at 614.50. Now holding that position overnight. Momentum is definitely on the longs side here, but I am slightly concerned over a possible clearing of positions prior to long holiday weekend.
This market is trading in a very good range so that one can make a profit even if you are stuck in a short position. For the last couple of days I have been short during the morning and have had an opportunity to get out with a profit at night. The weather problem in South America is very bullish but my take on the trade is that the price will spike up but the BIG BOYS will bring it down super fast.