Corn short

Discussion in 'Commodity Futures' started by BoyPlunger, Jan 5, 2010.

  1. Yesterday's high volume spike and today's down drift suggests a decent move down over the next few weeks. (I think candle people call this a hammer or doji or something) this is corn's third attempt at this level in the last few months.
    This is statistically a good trade because I'll know in the next couple days whether it'll work (that's called a time stop) and don't have much risk as far as price goes to tell me i'm wrong.

    So... short some at 418.25. Stop 429. I think the potential is for around 350.
     
  2. I would also like to join ya but I find last 5 days of congestion that preceded the 2 day reversal worrisome. Moreover, this market has been stagnant since November. Lastly, other grain futures like wheat, oats, and soybean are looking rather bullish and it's my opinion that corn will more or less move in lock steps with them. Of course, take everything that I say with a grain of salt. :)

    Good luck!
     
  3. caroy

    caroy

    Why not go long gamma if your indecisive. Reports are due out on the 12th of January the 420 straddle in march corn is relatively cheap with low volatility currently. Or buy 2 ATM calls in march corn and short a futures contract.
     
  4. I can't see it going below 411 and there's much more potential for upside breakout to the 450-480 range.

    Let's see what today's close brings.
     
  5. one thing to keep in mind

    TaehW ! and reppoc !



    :p
     
  6. tell u what ,,,

    if dem nuts in beans want to send em into the cesspool

    them niblets will drop too

    :p
     
  7. Everything started to roll over around 9pm est last night.
     
  8. Lol!
     
  9. TraDaToR

    TraDaToR

    What did cause this opening on grains? There was a bunch of reports from USDA at 8H30 ET... Anyone?
     
    #10     Jan 12, 2010