01-23-2013 06:29 PM
being a counter mini-trend trade.............breakeven stops on longs-------------be patient for target---------------use your trailing if thats mgmt style, etc.
what we are MOST interested in are the sells mentioned in "2011 bean highs" thread
01-23-2013 07:13 PM - edited 01-23-2013 07:48 PM
half out @ 1434......back in 1430 (long)
give her 1 more chance to take out 1435.....if not.......flatten and wait for sell.
19:31- good volume @ lows....give it a few minutes to rally
stop 'em all below 1427^4
19:48- hangin' by a thread......
01-23-2013 07:57 PM - edited 01-23-2013 08:51 PM
19:55- remove stops in beans if your comfortable..............all grains appear to be stablizing now.
Wheat has the best technical setup---stay w/ that buy-- avg= 772-- allow it to take out (day) lows if it needs.......
01-23-2013 08:25 PM - edited 01-23-2013 08:30 PM
I am also long and looking to get more around 1425.6 . I still think we might make a little pop up before South America brings in the record crop. SO THEY SAY. We haven't had one inch of snow in Chicago for about 330 days. I know, who cares about Chicago but some of my trader friends are thinking thislittle thing called DROUGHT might continue. WHO knows.
01-23-2013 08:50 PM
Thx for the post gio,
i'm glad we took out our stops BELOW 1427^4---with this being our LOW print so far..............how are you with that short-term target overnight?..........WOW. Chicago only 1 in of snow & it's almost Feb!!!......WEIRD, WHACKY WEATHER continues, ey?
They're still calling Drought a LITTLE thing. Hmmmm.......next few months will be choice for sure as Ferris used to say. Tell your trader friends to browse around the Drought.gov site a bit....going back to 1999 (as far as palmer data goes), it has NEVER been close to this dry, coverage and intensity-wise this time of year......also, look at the PALEO-CLIMACTIC DATA. ...gives a broader perspective of what kind of cycle US might be in.
01-23-2013 09:40 PM
I do not know if you know the Grandma's investment club. The Beardstown Ladies-16 older women from a small town in Illinois-that pooled their money and substantially outperformed professional money managers and made millions.
We should think about that. I will put the first $5k-$10K and get a club going. Trade one or two days out of the week and trade heavy. Lets see where that can take us. Just a thought.
01-23-2013 10:23 PM - edited 01-23-2013 10:31 PM
20:01- highest confidence w/ wheat....beans are sitting right about 2:1 risk/reward..i might stop half pretty tight, go to bed.................see where we stand in the AM...