The bane of trading is the unable order. Yesterday (and all night) I've been a 111.03 bid in Bonds and 355 bid in July Corn. Close but no cigar. Open positions L 10 CN S 20 ZB L 7 Cotton S 5 SK 780 puts I want out of the Cotton today. Cotton is a bitch to trade. It's been slow migrating to the screen (less than half the daily volume) and it jumps around with very little actual trade. Bonds have me on edge and I'd like to lighten up but I refuse to pay up. I need more Corn. Premium levels are low so I'd rather not sell May puts (although I may sell some July puts). I'm frustrated by the break in oil. As posted I sold a 5 lot Thursday and was freaking out nervous. Of course that sale was 2 dollars higher!! MF! Gold's persistent strength is awfully hard to ignore. I MUST find a way into the long side of metals.
It seems the bonds say f** to the good news between US-Iran-Uk and try a bit of short covering after the weak ADP report (looking for a revised-down NFP) and the long weekend in Europe. Bund is leading the way up.
-------------------------------------------------------------------------------- Quote from Pa(b)st Prime: I still believe Corn will be $6 sometime soon. All it takes is a weather related incident in the next 6 months. -------------------------------------------------------------------------------- knife caught ! nice run today.
Nice trade!! I sure didn't want to jink us more than I did but those buys were a great opportunity. I kind of botched it by going all in too early but all in all it worked.