Ewing's ideas on Corn
Stewart Taylor
I don't agree or disagree with your analysis (I mostly trade
financials).. but a couple of points"
>I don’t think the world can afford the recent increases forever.
>Based upon a quick eyeball of a weekly 5 year chart, corn averages in >the 250 range. Even with inflation and the recent strength o=
f the dollar >corn is too high.
An old trading saying.... that, by the way is very true... "The market
can stay irrational a lot longer than you can stay solvent!".... Thinking
about a trade in terms of what the world can and can't afford can be a
dangerous habit.
>I am shorting March -vs- December to give me the flexibility to let my
>profits run if need be. I am not a day trader. The volume and open
>interest is enough to not worry about an illiquid market.
You better learn to always worry.... it's funny how the most liquid
market in the world can turn illiquid at the most inopportune moment. My
advice...Place your trade in the Dec. and roll it when the active month
rolls.
Good luck with your first trade....I hope it works out for you..
Stewart.
A. Stankewicz
>I am still long corn and intend to stay this way until I see the market
>come back below $3.00. There is another famous quote "The trend is your
>friend".
After the freeze event is over on Friday morning. . . maybe you should take
your profits. I have taken pofits three times in CZ5, "too wet to plant, to dry
to emerge, and on the recent frost scare at 293.25. . . . your target MAY be
great. . . wait and see, but follow your stops TIGHT tommorrow in my book (wish
I was still in ! )
>I am looking at 3.25 CZ5 min.
Close call. . . you could be on target according to the weather info I just
looked at from the net.Why not set a limit sell order around there?
>Incidently seems there is some major day trading going on in the wheat
>around the open and close. Does anyone know about this ?
FREEZE, and orders from abroad from the info I have. . . . wish I'd got into it
earlier. . . . too late to join the party now.
C'ya
~Shiva
<Mar...@metronet.com> wrote:
however, it's not too late to join the party in wheat,
which is making life of contract highs.
and monday the Russians come calling to bail them out of a bad harvest.
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Some selfaggrandizing quotation goes here.
But i forgot what it was.