Short S from 900 and scaling up. More at 1025 (Jan08). Dude. That is the most ridiculous trade ever. You've been in that long, goes a buck+ against you, and you're still shorting. Hope you have deep deep pockets or are trading 1 lots. My 2 beans
shorted more Jan S at 1025 shorted more Dec C at 380 holding Dec W short from 900-950 shorted more Jan RR at 1250
Update: Sold more Dec corn at 390. Holding shorts in W, S, RR. Partially hedged with long crude, gold, silver. Looking for entry to short CC again. Last short 2000 to 1850. May initiate short if hits 2000 again.
CC short worked recently during "da Bull" whynot again. CC is different animal than grains. No real cohesive cartel. Political craziness in growing countries can pressure it but when is it not crazy in that part of the world? Not sure what to do with wheat so only have small portion short now. If heads to 900+ again will gear up distribution.
are you all going short on "gut feelings"? or are you using some sort of system/indicator (RSI?) to tell you when to initiate your short position??? just curious...
The law of Supply and Demand. Historical studies. Sell the news. Wheat sold off as the news headlines were as bullish as you could imagine. Same has happened in the past. The kicker is USD. Am short the USD as a hedge. A lot of commodity runup is accelerated by crashing US dollar.