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Advisor

Good to see MT ol buddy

Is alive and kicking, it only takes two small rally days to grow a set. Fwiw we broke below the gap and below 9.50.
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12 Replies
Senior Advisor

only $3.50 more to go

to hit your target

 

so Bucky, whats your COP?

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Veteran Advisor

Re: only $3.50 more to go

last time 2 small up legs occured with a  middle day trading 375K contracts, well.............? can't remember.

 

it is nice to see the transparency on the 1 and 5 min charts -- and to discern whether mkt action in general is corrective or impulsive.

 

back up through 950 - keep on observing it, i suppose.

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Veteran Advisor

Re: only $3.50 more to go

Bucky, maybe you better bail on the shorts, and tell all those people who were clamoring for your advice to get out of the hedges, and go back long to try and make up some of the money that they are now out since Sundays call to go short.  4 and 9 day moving averages have crossed back above the 20 day and heading upward....looks like a buy to me....but....I'm on the bench.

 

Buy Baby, Buy while you can still get in on the floor....

 

Jen

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Friend

Re: Good to see MT ol buddy

What are you guys targets on the upside? do you guys think the rally can be sustained? I am not sure yet that the fundamentals are in place in order to sustain a rally at this point, this to me feels more like a big short squeeze and we are do for another leg down.
I think c-x-1 is right, the best think is probably to observe now and see if we can get more clarity, heck those 20 cents up and down moves after the pit open and then into the close sure don't scream clarity and direction.
Advisor

Re: Good to see MT ol buddy

You know what nobody knows what is going on. All the market updates I'm getting have the people writing them scratching their head. I think you risk getting stomped on either way if you try to day trade up or down. Goto the sidelines.

But we are still oversold and have needed a correction since June.. The last rally was May? Anyways I do believe that the awful weather is providing some support and that the pipeline is dry for now. At this rate I'm leaving all of the corn outside again. **bleep**. Sigh
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Veteran Advisor

Re: Good to see MT ol buddy

Quarterhalf, 

 

How much clarity do you want in beans, we closed over 9.50 today?  Just go for it! GO LONG and sell at the top!!  If wrong, that is ok, we all can't pick winners.

 

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Veteran Contributor

Re: Good to see MT ol buddy

Bucky how much did you have to wire back into the trading acct today?
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Advisor

Re: Good to see MT ol buddy

I wired nothing because it is in option and options have no margins.  I am riding this little blip in the radar.

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Senior Advisor

Re: Good to see MT ol buddy

Better sell another 50,000 to split your average.
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