I shorted corn (ZC) yesterday (small loss) and today (good so far) (see attached chart for motivation) and it looks like they just halted trading. :eek: Anyone know what's up? Is it locked limit - down?
corn (zc)
- Thread starter PetaDollar
- Start date
There are more sellers than buyers... 
Or it might have something to do with the fact that since end February we have had the largest short interest in corn (65% of contracts) in last 5 and half years ( 2001 ish )....
Or historically corn breaks mid May and comes back mid August earliest...
Or all of the above reasons are fu7!ng absolute bullsh!t and it was just a random trading event/day...
Try not to think too much, trade, be merry and get to know all young local housewives....
Or it might have something to do with the fact that since end February we have had the largest short interest in corn (65% of contracts) in last 5 and half years ( 2001 ish )....
Or historically corn breaks mid May and comes back mid August earliest...
Or all of the above reasons are fu7!ng absolute bullsh!t and it was just a random trading event/day...
Try not to think too much, trade, be merry and get to know all young local housewives....
They don't halt trading in corn unless it's a limit move. Limit is 20 points. And actually, they don't "halt", they just don't allow trades outside of that range.
From your posting time, it was just the normal close of the day.
One other thought--if you're still trading May corn, beware that you're well past first delivery day, and last trading date is coming up real soon now.
From your posting time, it was just the normal close of the day.
One other thought--if you're still trading May corn, beware that you're well past first delivery day, and last trading date is coming up real soon now.
Yes, I am retarded, Corn closes at 13:15. I am trading the July. For some reason, I didn't think the electronic was supposed to close until 16:00 CST. It is dark from 13:15 to 18:30; then again from 6:00 to 9:30.
Quote from Cygnus Atratus:
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Try not to think too much, trade, be merry and get to know all young local housewives....
Good one.
Well that was ugly. I managed to get out at 360.
Good thing you got out at 360, I see it ZCN hit 369.5, and is still up this morning. :eek:
If you are going to trade corn you need to be aware of this website:
http://www.usda.gov/wps/portal/!ut/p/_s.7_0_A/7_0_1OB?navid=AGENCY_REPORTS&navtype=RT&parentnav=NEWSROOM&edeployment_action=changenav
Or you will have more "uglies" in your future. Best to be flat before a big report (unless you like to gamble).
http://www.usda.gov/wps/portal/!ut/p/_s.7_0_A/7_0_1OB?navid=AGENCY_REPORTS&navtype=RT&parentnav=NEWSROOM&edeployment_action=changenav
Or you will have more "uglies" in your future. Best to be flat before a big report (unless you like to gamble).
Thanks for the link, I like to read about this stuff now and then. For trading, keeping to price and volume alone works for me. Sometimes I get curious about what might be going on (like yesterday), but I don't trade off of it. I think today was a great example. I had no idea about this report. I ended up with a loss on the trade of -1, even though there was a violent unexpected turn in the price. It is just like the losses on most of my losing trades. I held it overnight because it was already pretty profitable and I figured there was ~90% chance to get to 340 before coming back. Good trading protects me. More importantly, it protects me from unexpected violent moves just as well, for which there is no preplanned announcement. And it sure is good when the violent moves go my way. Of the three professional traders I know, all three of them don't use this rule of staying out during announcements. I am sure there are other pros who do stay out as a rule. It is just a trading technique, one way or the other. I don't think it should be posited as a rule one must follow.