I too think we could take a little off the corn market (beans too). But be careful guys fundamentals will always trump technicals in this type of environment. Huge demand, China not exporting anymore corn and rumers are that they are going to take off the tax of imported corn in the near future. Check out the march/may spread.....its popping hard indicating good demand signals like we have continued to see for a while now. I do agree however that we are in for a little profit taking.
YT, was it wheat or soybeans you were trying to short pre-7$. These markets will continue to create grey hairs in all but those of us not fixated by the old schools of thought. This isn't our grandfathers marketplace anymore.
It was wheat and I learned my lesson that being a contrarian is not the safest way to make a quick buck (plus im gonna look kinda weird with grey hair at the age of 17!!!). So thats why im not too interested in the short side of the grains right now and only the long side. I realize the game has changed and these are different times but what would you recommend a person doing? Get short? Get long? What?
Damn I wish I were 17 again with a drive and ambition like you have. My friend you have your entire life ahead of you and you are on your way to being a force in these markets but just go slow and be methodical in what you are learning. You are on the right track just let no man persuade you to change what you KNOW. Experience is the best teacher in these markets because experience builds confidence and NO ONE takes that away from you. PM me sometime and I will send you some pesonal reading material to read that I think will help.
mang! 17! at 17 i did not want to see charts unless they look like sweet thai thighs. anyway mang. i see a gunshow pattern on the chart. look for the next barrel extension and then it might be good to go short. I don't like technical with the grain...it's a whole different dragon than things like coffee and lumber. people are all up in how it changes in the world market place. watch USDA reports and listen to agweb.com!