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Advisor

CX1 or anyone else. I need help on wheat

Okay here is my dilema got some old wheat left. The weekly techs have turned up however the dailys are toppy. I need to have this stuff gone by April 1. Should I dump it monday morning or can we have a short break next week and rally to higher highs than Fridays close before the end of the month. Seasonals suggest this is about it right here. Im leaning towards dumping it Monday morning unless you can talk me out of it. Weekly Macd is up which is confusing me however could turn down in couple of weeks if it breaks hard.

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Veteran Advisor

Re: CX1 or anyone else. I need help on wheat

I think you answered your own question.

 

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Advisor

Re: CX1 or anyone else. I need help on wheat

Actually I think I need some Prozac.
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Advisor

Re: CX1 or anyone else. I need help on wheat

We're running contra seasonally here, with spreads tightening indicating a bull market being in place, at least short term.

The only problem is it isn't a long pattern on the chart, when graphed. But technically we should be going up..

Shorts are giving up contracts too

Volatility is up... So we might see more extreme reactions either way come monday.

Your going to have a hard time seeing futures rise above 7. But if you do, I'd sell everything.

If I were you I'd probably wait it out. It's a coin flip as to whether they print a bull/bear #. Trade can't predict USDA publications.

If we do well on Monday, I might even let it ride til April 1st.

But I guess it depends on how much you can afford to lose.. I see te advisory services have made some sales lately
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Senior Advisor

Re: CX1 or anyone else. I need help on wheat

The problem with report day is that whether the USDA prints a bull or a bear often has no bearing on the way the market goes. On the number of options, before or after the report, you have a 50% chance either way in the short run. In the longer run you'd have to use other criteria based on trends. You can't nail it down.

You make the best decision based on the info you have now, and don't look back.
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Senior Contributor

Re: CX1 or anyone else. I need help on wheat

Too bad your wheat isn't certified organic. I could offer at least $15.00/bushel right now.
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Advisor

Re: CX1 or anyone else. I need help on wheat

Well Pal I look at it this way. Market is getting toppy and the report will be the catalyst or excuse to send it lower
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Advisor

Re: CX1 or anyone else. I need help on wheat

Nothing fun to trade through the report... Your probably just incurring unnecessary cost if you need to exit by April 1.

Need to get through 6.57 to get excited
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Veteran Advisor

Re: CX1 or anyone else. I need help on wheat

oh,

sorry Cat - a tad late here...........ummm.........hang on to bu if you can. Smiley Embarassed

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Advisor

Re: CX1 or anyone else. I need help on wheat

Still hang in on. Holding out for greener grass $$$$!
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