No kidding Rtrader! Both traders in lumber must have had orders today!! lol... I exited the second part of my long Dec meal today at 287.5, did not end up buying any coffee due to weakness in commodities today. Also exited my Feb/Dec Lean Hog spread today at 7.10 for a nice $2 gain.
Dec. Meal looking ready to roll over here, at lest for a retracement down to 260. Having said that, I went short @ 282 this evening. Will reverse and buy it on a pullback to this area though. Also, short KCBT wheat in a range around 570, adding contracts on the overnight as I can, not touching corn or beans to the short side, but will look for them to pullback and then buy away. Cotton still weak and I will likely be stopped out of my March position tomorrow. Cattle also on my radar, specifically live cattle on a pullback to the 89-90 area. I like what I'm hearing from my friends at the feedyards. Its not there yet but could be next two weeks: spreading deffered hogs against the Feb...banking on a bottoming in corn and a rise into spring and continued nearby pressure in hogs. Thats all for tonight! Sorry to get so darn chatty!
Talk all you want TX you are usually right!! i like platinum at 760 or 770 again as well. Been playing that all week.
Looks like I'm going to lose on this one as well. I shorted some March 110 calls and have bought them back near worthless but went long the 75 calls a week a ago on a long shot and am irritated watching my assetts waste. (the joy of option buying) Long them at 45 and a 31 settle today. I still think there is a good bounce due in Cotton. Worldwide cotton gave up so many acres to wheat. But who knows. Win some lose some and live to trade again. I am looking at selling puts in march coffee today on any weakness. All the best! More importantly TX how did you do in PND gasoline futures? big moves expected today. Thanks again.
More importantly TX how did you do in PND gasoline futures? big moves expected today. Thanks again. [/B][/QUOTE] caroy: I need you to release some VERY bearish news today...I'm with the locals on the gas trade....net short 500 at 2.37, couldn't ever get a fill until the last trade, didn't want to dabble in the middle and was always trying to buy or sell the fringe...I think the locals spotted my retail order and got a head of it!! ha ha...now THAT is a true realism factor!
TX if you are short 500 gas contracts at 2.37 not only are you my hero, you are a rich son of a bitch!!!! Good work!
Ya I am dissapointed in cotton too, It did give up a ton of acres. Doesn;t make sense to me really, but that's how it goes these days. I will be looking long soon.