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giolucas
Veteran Advisor

Are traders holding their long positions over the weekend?

What are traders doing before the close???

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6 Replies
glenlivet18
Veteran Contributor

Re: Are traders holding their long positions over the weekend?

I is.  Long March beans from 1260.  Let 'em run, always.

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giolucas
Veteran Advisor

Re: Are traders holding their long positions over the weekend?

Glenlivet, 

 

Good luck.  I am on the other side.  Unfortunately, I went short at 11.63.   Lets see what happens. 

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Mizzou_Tiger
Senior Advisor

Re: Are traders holding their long positions over the weekend?

OUCH..........you still holding on...........

 

you do realize that the daily is showing an inverted H/S..............left shoulder started late sept and was finished by mid oct..........then we formed the head which bottomed in mid dec..........the right shoulder started around the report in mid jan...........and we are working our way back up to confirm at the neckline.........

 

neckline is in debate...........some think 12.90 is enough..........others see 13 as its been a level of support and resistance..........

 

its hard to say whats going to happen...........corn was setting on a huge H/S pattern and most thought when she broke, it was all over, a violent fall from 5.85..............never happened, because of fundamentals.............

 

IMO with the shrinking SA crop, monster corn acres talk, basis trends, and recent demand............if we break thru 13 it probably becomes support again and we could be off to the races...............

 

 

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giolucas
Veteran Advisor

Re: Are traders holding their long positions over the weekend?

Mt,

 

Yes, but I think I am going to take a quick and paintul loss on Monday.  Try to recoup the rest of the week.

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Mizzou_Tiger
Senior Advisor

Re: Are traders holding their long positions over the weekend?

the trade is open for business on Monday?????

 

I think you mean Tuesday..........dont think the overnights are even going Monday PM?????????

 

EDIT:  I would watch the open and follow thru..........it may not hold..........this right shoulder has been a little choppy and less than smooth...........we get some additional jawing out of Iran or EU........it might give some back to you..........not all but some, before it pulls over to stay..........

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giolucas
Veteran Advisor

Re: Are traders holding their long positions over the weekend?

I was hoping that Greece told everyone that it was going back to the Drakma and piss off the European Community....well at least not this weekend.

 

CRAP.

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