I would say that corn needs to get it in gear or it's a sell-- Too early for me short it just yet I think although seasonally it's time for a sell off
JW , I would watch the corn very carefuly. Each day that passes without significant upside being created, brings us closer to the gap being filled by a gap down. This would be an island reversal. Just a note--not predicting it, but gaps that are followed by little or no follow through can be dangerous.
I see on the day you shorted July Soybeans that it zoomed up quite a bit did you not have any stop in place? Are you saying you are still short and now your position is profitable. Are you really trading are just pretending?
A 10 cent move is about 500 dollars, I am sure he can handle it. I shorted oats as a hedge on my corn position so today's loss could be a lot worse. I am actually profiting for the moment, lol. I'm trying to decide if I should hold over the weekend or not.
I hope oats go limit down today. All these idiots who bought it at 2.00 plus should be starting to feel the fire burn there asses. HA HA HA HA.
I'm really trading. Many times when the technicals look good to me, I do not use stops when using daily and weekly charts. Intraday is a different story of course. The reason I can operate without stops is that I don't commit massive percentages of my capital to the initial trade. I am still short July Beans, July Oats, and July Wheat.
We had that gap I was talking about today in Corn. Yesterday's close was a bearish divergence. I did not trade it since I was short 3 other grain markets. I suggest getting out of corn for now and if it shows life again you can get back in.
Adding to the short Oat position at the close today. Looks to me like Class B Bearish divergence on both the Histogram and the RSI today.