Corn Crash!

ProfLogic · Jun 30, 2008

Quote from BCE:

Looks like a pretty hefty pullback at the open. Stay tuned.

After seeing the Acreage Report is was expected to see a pull back in the grains.

Common sense wouldn't dictate a pullback but the markets move on emotions and individual sentiment and that is driven by the uninformed. The markets are reactionary and that is what makes this a wonderful place to earn a living.

Ride the upback . . . ride the move back up to challenge the top.

Just another month in the markets.

simpleton · Jun 30, 2008

Quote from BCE:

Looks like a pretty hefty pullback at the open. Stay tuned.

The key will be the 720 area. Looks like a nice battle going on right now, I wonder where it ends the day.

BCE · Jun 30, 2008

Quote from ProfLogic:

After seeing the Acreage Report is was expected to see a pull back in the grains.

Common sense wouldn't dictate a pullback but the markets move on emotions and individual sentiment and that is driven by the uninformed. The markets are reactionary and that is what makes this a wonderful place to earn a living.

Ride the upback . . . ride the move back up to challenge the top.

Just another month in the markets.

That's the way it works as we know. It's not really about what's actually going on in the real world, especially initially, it's about how the information is interpreted, right or wrong. We just trade.

BCE · Jun 30, 2008

Quote from simpleton:

The key will be the 720 area. Looks like a nice battle going on right now, I wonder where it ends the day.

May retest today's low and not hold. Stay tuned.

ProfLogic · Jun 30, 2008

Quote from BCE:

That's the way it works as we know. It's not really about what's actually going on in the real world, especially initially, it's about how the information is interpreted, right or wrong. We just trade.

Agreed.

BCE · Jun 30, 2008

Did they just halt trading or something? Hmm.

simpleton · Jun 30, 2008

Quote from BCE:

Did they just halt trading or something? Hmm. The asks are all lined up and the bids are miniscule and scattered.

Limit down

BCE · Jun 30, 2008

Quote from simpleton:

Limit down

Guess that's it. That's what I thought.

simpleton · Jun 30, 2008

Quote from ProfLogic:

After seeing the Acreage Report is was expected to see a pull back in the grains.

Common sense wouldn't dictate a pullback but the markets move on emotions and individual sentiment and that is driven by the uninformed. The markets are reactionary and that is what makes this a wonderful place to earn a living.

I'd think that common sense WOULD dictate a pullback and that this down move is taking the 'emotion' out of the market. 2 sides to every coin.

BCE · Jun 30, 2008

Well, I was right about the general market rebounding a bit today. At least so far. They may be pulling some money out of commodities and buying stocks. First day of the quarter tomorrow after a big selloff, and also the first day of the new fiscal year. However there's no Fed to prop this up and tons of issues weighing on the market, so we'll see what kind of a rebound this is.