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Advisor

Re: For rusty_metal S wkly chart

Is is possible that we continue to test the downtrend line a few more times before it heads higher or is she good to go??
Thanks for the charts.
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Veteran Contributor

Re: For rusty_metal S wkly chart

Soybeans tend to make a low in October, and I am not sure if the harvest lows are in yet.  Now that by itself is pretty meaningless for holding a position, just something to look out for.  I use 30-minute charts, and we do have an interesting looking up trend channel working off of Thursday's low.  I bought at 990 yesterday but just got stopped out for break even a few minutes ago...not sure what has caused the bean market to drop 12 cents in the last hour.  Try not to predict, just follow.

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Friend

Re: For rusty_metal S wkly chart

CX,

Thanks for the charts.  Even though they apparently mean nothing -  might as well be using a spinner from Twister or something.  Consistently through the collapse of the bean market, you talked the bullish line. Just in the last couple months, its been SDS, white mold, early freeze, etc.  Never once did I see you, say anything that wasn't bullish.  I get this is a farmer forum and to be popular, you gotta speak bullish, or you'll be sent to the wood shed.  But if you, the guy stating he knew the bean market better than anybody, with your chartbook can't predict the lows repetitively, nobody can.  Just sayin!  I hope you're right this time though!!

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Advisor

Re: For rusty_metal S wkly chart

Trend remains down cx1
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Veteran Advisor

Re: For rusty_metal S wkly chart

Cx1,

I thought you were a
Corn trader?
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Veteran Contributor

Re: For rusty_metal S wkly chart

Here is another take.

Dec corn 450.25 is unchange for the yr. Were down 24.8% for the yr

Nov beans 1135 is unchange for the yr,

Using the ratio 2 corn vs. 1 beans that would equal 911.50 bean price.

24.8% lower for nov beans=854

Take the 2006 low and the 2013 high the 618%=927.25

2004 low and the 2012 high the 618%=910

corn down $1 dollare for the yr at 350 should equal beans down

$2 which would equal 935

 

I'm sticking with the trend and we can see anyone of the numbers before a bounce in nov beans.

935   927.25   911.50 or 854. IMHO

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Advisor

Re: For rusty_metal S wkly chart

you dah man capi

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Veteran Advisor

Re: For rusty_metal S wkly chart

gio,

that was in my previous career a couple years ago.  Smiley Wink

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