OptionEye Mar 27th

[ShelladyOptions]

What a difference a day makes.

All of the pundits had a close below 639 in May corn as very weak. The 50 day MA was breached and we settle just above the 100 day MA.

And then we rebound like nobody could have imagined on the overnight session. Yesterday's trade action was deadly and as I did the rounds yesterday nobody could come up with a decent reason why corn gave up its gains as quickly as it did. I suppose the best explanation is that with the anecdotal evidence surrounding us with tight supplies the last folks to the market were weak longs. Just proves how hard this market is to trade on a daily basis.

How are you finding things out there?

Scott

[hardnox604008]

I am finding it untradeable as I have for a long time. About the only thing you can do is pick a point that seems to make sense for you business and sell it in a way where you can withstand margin pressure. OR choose not to.

[giolucas]

Hardnox,

You are right it almost seems like you have to pick a point and HOLD on until it goes in your favor.  With the report coming and people squaring positions it seems like we are trading both sides today.  Hopefully, tomorrow we get a bounce if you are long. If you are short I hope you get your profit today.