I'm Shorting Hysteria at 24.180

Discussion in 'Ag Futures' started by Johnny Walker, Apr 28, 2008.

  1. [​IMG]


    ROUGH RICE - CHICAGO BOARD OF TRADE Code-039601
    OPTION AND FUTURES COMBINED POSITIONS AS OF 04/22/08 |
    --------------------------------------------------------------| NONREPORTABLE
    NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
    --------------------------|-----------------|-----------------|-----------------
    Long | Short |Spreads | Long | Short | Long | Short | Long | Short
    --------------------------------------------------------------------------------
    (CONTRACTS OF 200,000 POUNDS) OPEN INTEREST: 23,695
    COMMITMENTS
    7,015 332 1,625 10,313 19,910 18,953 21,867 4,742 1,828


    Front Page of local paper. below
    [​IMG]
    Sam Liew and his mother, Chan Phan, pass on buying Thai jasmine rice after checking out the price at Goldstar market in Sacramento.



    I'm short two contracts here at 24.180. I think all the bad news has been discounted. The only people who will buy now are the johnny come latelys.
     
  2. lwlee

    lwlee

    good luck. just have a stop ready. hysteria can keep driving the price higher.
     
  3. TraDaToR

    TraDaToR

    I sometimes trade rice and watch it real-time , and there has been unusual activity for 2 weeks now on the short side. It seems artificial... I don't know if it's for profit taking or shorting but there are guys looking for big sizes to the downside.
     
  4. Holy shit. Limit down two times. UP about $4500 on 2 contracts!! I gonna hold this all the way down to 15.

    [​IMG]

    Hopefully it will look like this mess in a month.

    [​IMG]
     
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  6. rickf

    rickf

    I've been short 4 RRK8 a few times since last week -- been some great trades thus far. :)

    Hysteria, indeed.
     
  7. TraDaToR

    TraDaToR

    Hello,

    Yesterday was the first day I tried to trade rice( July ) for a long time and I got stuck in the limit down. Fortunately, I was able to sell 2 September RR to hedge and even make a little money liquidating after hours...:D Don't know why but september seemed to tank more than july in the limit...

    Today was an other story... got annihilated trying to scalp against the massive shorter that is trying to put it limit down again... Will stop trading rice 'til it's back to normal behaviour...

    :confused:
     
  8. TraDaToR

    TraDaToR

    Here it is while I'm typing...limit down again...
     
  9. Back months down .75 , I thought the limit was .50 , any insight?
     
  10. if your short RR, get ready, I'm about to lift that 900 lot. Rice is a real issue, I'm going to run it up over the next day or so (thinking25500). get ready on the close.

    good luck
     
    #10     Apr 29, 2008