Hi there.... Since corn discussion seems dead, I thought I'd take this opportunity to bitch about how much I hate corn today. If anyone is reading this and has experience with corn and especially its AH market, I have a question. Last night Dec Corn traded about 10K volume. I can't remember any time it did that without following the next day in the same direction. I exited my short term position when we shot down to 333. Today at nearly noon we are at 340 or so. Corn never traded there RTH. Now I feel like a fool and having another mistake to write about in my trading journal. The other wierd thing was that wheat and soybeans (to a lesser extent) were up strongly. They are again today. Is it a bad idea to ever pay attention to the AH market from the point of exiting positions with stops? I usually believe this but 10K volume within the first 2-3 hours seemed something more. Thanks!
LOL thanks...I like how you read all the way through and thats all you gave me. How about you're an idiot....I'm a better trader than you, or perhaps you could have posted a video clip of Gordon Gecko or Boiler Room. You know, more standard ET fare. Of course....being corrected on my english on a mostly American message board ... I consider that an optimistic sign! I'll be sure to watch my spelling in the future.
Should it have been "wired"? Anyway, it's more important to stick to your method. If the market were 20-cents lower, you'd feel different than you do now. Do you have a way of getting back into a market that your position has been closed out of?
Thanks, good points. Definitely a little wired. Yeah...I shouldn't judge my decision by the fact its up a few hours later....it could have been down. I still have my long term position on but i added a short term one at the close yesterday since I like Corn long term and I thought we had hit support...thats why I bought. Don't usually pay attention to AH but the volume was there. I'm trying to learn how to pyramid (in my case...adding to retraces) but not working so well so far
Yeah...insane. Probably seem great if I was in it. Was looking to short it a couple days ago at 7.50 but luckily didn't. I'm not saying anything of substance so I think I'll shut up now.
OK, thanks...I was in Beans back In October and was trying to figure out how to pyramid that move but the sucker never pulled back! Makes sense now since it was such a strong up move. Corn, on the other hand, hasn't broke out of its downtrend yet so I should probably not add yet.
There will be a real battle shaping for next year in the attempt of corn, wheat & beans to buy acres. Right now wheat and beans are looking more attractive. Corn will have to rally some but it will be hard to do in light of what may be a record or near record crop this year. Notice that Dec 08 is hanging right around the 400 mark.