Showing results for 
Search instead for 
Did you mean: 
Senior Contributor

OptionEye.....July 16th

Good morning.


Very nice move in the grains overnight as the 'Garden of Eden' turns into Death Valley. Crop conditions worsened in yesterday's report and development lags behind. This is probably going to be the way we trade for the next 4 weeks. It's kind of schizophrenic. Beans up 20, Corn up 12 and Wheat up 8.


Equities struggling today as Coke earnings and Europe drag on our positive Goldman Sachs earnings reports. The 10 year is still stuck at that 2.55% rate and I think that is the number we watch going forward. The equity market right now is a little too rigged for me with the FED intervention. The bond market will really let us know what is happening.


It will be really interesting to see what all these put buyers do on a day like today. There has been a lot of activity in the out of the money puts and there is a record short in fund positions. All this leads me to believe we are going to have days like today because nothing is that easy. We are going to have to have some funds cover shorts and puke out puts before we go lower...if at all.




0 Kudos
2 Replies
Honored Advisor

Re: OptionEye.....July 16th

If I was a trader, I believe I would be buying grain soon.  

0 Kudos
Veteran Contributor

Re: OptionEye.....July 16th

Scott the ratings are a lagging index.  Its what has been happening here for the last week or two that verifies by them.  The "I" States will be down next week.

0 Kudos