10-24-2012 02:32 PM
the DJ transports are taking a beating today.........I sometimes use that as a broad leading indicator.........next couple of days might get ugly........
also looks like oil got taken to the wood shed again, BUT maybe trying to find support today?????
also watching the ag sector stocks a bit, wondering if the fundamentals will be a shelter and draw money in if things get squirrelly........
soya commanded the day, which given they bounced on support............export pace and sales are off the charts........domestic use is good..........and a huge drop in price recently............they should...........also IMO the USDA had it close to right before adjusting production up...........so we could see the balance sheet get tight by Jan..........
Solved! Go to Solution.
10-24-2012 02:50 PM
With all the news world wide about the ills of most of the major economies I'm surprised the wheels are still on. The election year grease by all of the Obamanation fat cats on the QE dole are pulling out all the stops to keep the thing belching out smoke for two more weeks.
BUT just announced that Bank of America is getting extorted for 1 billion for more mortgage fraud.
My money is in farmland, grain, energy, and precious metals. (lead and brass).
If the liberals win ... we lose.
If the less liberals win ... we lose because the thing is on life support anyway.
Too many "entitlements" Too many able to do something people only able to cash welfare cks. The they owe my mentality is going to be a hard one to wean off.
10-24-2012 02:54 PM
Wheat is $1.30 a bushel over corn. Looks to me like that might limit the feeding of wheat in favor of bidding just a little more for the remaining corn?
What is the basis compairison in cattle feeding areas?
10-24-2012 06:54 PM
i know exactly what you mean re: TRAN being leader. i've seen it many times. however, they were up yesterday (IND UNDERLYING STRENGTH) while DJIA & other indices were down.....we are in strange/unique times...that i do know. NQ has formed a pretty good looking climax/exhaustion bottom over last few days per my edumacation.
CL hit 67% retrace from last rally within a huge, contracting, fairly equilateral triangle on wkly bar chart. trendline on that comes in about 83.20, so it could move down 2-3 bucks more.
you think export #'s will come in impressive tomorrow?
10-24-2012 07:51 PM - edited 10-24-2012 11:27 PM
I am kind the odd guy out here but we have a lot of corn priced------lets say 65%. That's more than I am comfortable with ---- we have the storage I would like to use. But these are good prices. We share the election jitters with you. This leadership has no answers that are intended to help our economy long term. The short term answers are less effective every time they are tried.
Nothing this group wants to do will help our economic problems.
10-24-2012 08:34 PM
Also get rid of all the government agencies. They produce very little economic benefit.
10-24-2012 08:44 PM
And I bet he comes after me for this comment instead of dismal who said it........true bobblehead style......