Evening Trade 8/22

[NCcorntrader]

Good evening all

CURRENT POSITIONS:

Long DEC @ 654

TODAYS TRADES:

BUY TO CLOSE DEC @ 669.25

BUY TO CLOSE DEC @ 660.75

BUY TO CLOSE DEC @ 653.25

BUY DEC @ 654

- closed positions on the way down

- looking for bounce after todays bloodbath, but keeping small position

- down from high of 779 on 8/29 without significant rally

1920 ET

Dec currently at 654. Surprisingly light volume.

2045 ET

Now trading at 655 and rising. Wheat has surged about 3 cents in the past 30 minutes. Still no big volume.

2140 ET

Still sitting at 655 and change. A couple of decent size trades here and there.

[bruce MN]

That last bit could have to do with the old saw of not knowing whether to **** or go blind.

[glenlivet18]

Interesting.  You and I trade differently.  I wouldn't buy this market; I am not a bottom or top picker.  I may sell a rally in corn.  Will have to watch closely and see.  Got bounced out of my corn position today.  I use trailing stops and usually just let the market take me out when it will.  I'm very democratic with my profits.  I let them run freely, but I do keep a stop close by in case they try and get fresh.  Rarely do I voluntarily exit a position.  Still short beans from 1340.  One of my better bean trades of the year. 

[NCcorntrader]

Glen-

I guess so- I cant remember the last time I used a stop. Nothing against them, its just a matter of personal preference, of course.

By the way I will sell a rally in corn as well. Anything north of 675 will get a big sell signal. My long position right now is small and is just to keep it interesting.