done for the day Its messed up today guys. Everything is just nuts!! Im scared to touch those bean spreads quite yet to be honest. Just gonna watch everything tonight and see if I can find something good.
Nice day today guys! Managed to get long 2 contracts of may corn at 530 just like we talked about earlier. To be honest I was suprised we traded as low as we did today but going into a report tomorrow I guess it called for some short covering. I don't expect the report to have much effect on anything so I'm not too worried about holding positions into this thing. I also bought 5 may/july bean spreads at -14 I think these are a good value (although I was a little timid to even touch them last night.....although I was scared to touch anything last night). It wouldn't suprise me if we seen this spread go to even money before its all over. I might be interested in also selling aug/sep beans as well but with the crop not even in the ground yet I am not yet about to sell that spread. Won't be scalping corn tonight but good luck to all you guys!
long 2 corn @ 562.5 Profit target 573 Market faked out a few players (including me) on that false break out to the down side. 566.5 is where shorts should puke and carry the market up to the 570 level.