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ShelladyOptions
Senior Contributor

OptionEye...May 29th

Well, if the Memorial Day Hangover isn't gone now I am not quite sure what would shake those cobwebs loose.

 

It feels like the market was slow to see the weather change and after opening better things have really turned for the worse.

 

Macro-wise things have kind of traded the same way they have in the grains. Equities opened much better but were slapped in the face with a bad consumer confidence number. Traders were expecting something along the lines of a 70 when we actually got a 64.9 on the heels of a great 4 year high in the consumer sentiment index. Caught some guys very wrong footed.

 

As I write, the grains continue to slip away with the weak longs throwing in the towel. With the spectre of a Greek exit and a non-farm number on Friday, we look to have a busy week on our hands.

 

Scott

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2 Replies
GoredHusker
Senior Contributor

Re: OptionEye...May 29th

Things could be worse.  If cotton falls much more, it will be trading at roughly half of what it was a year ago. 

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kraft-t
Senior Advisor

Re: OptionEye...May 29th

 
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