Grains Journal

Quote from Buy1Sell2:

I am patiently waiting for a bearish divergence on the Wheat Hourly chart and then I may short it.
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Ok--I'm being exremely patient-waiting for the right time.
 
Quote from Johnny Walker:

The fundamentals on oats are bearish but oats are usually effected by the corn market. If corn goes up or grains in general oats will go along for the ride. I think the corn market has a lot of positives on its side, which is why I am long a contract. If the index funds want to buy grains because of the inflation they will keep going up despite fundamentals. I'm still doing a little more research on oats and I might be joining you on the short side next week especially if prices get more out of whack.
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I would say that corn needs to get it in gear or it's a sell-- Too early for me short it just yet I think although seasonally it's time for a sell off
 
JW , I would watch the corn very carefuly. Each day that passes without significant upside being created, brings us closer to the gap being filled by a gap down. This would be an island reversal. Just a note--not predicting it, but gaps that are followed by little or no follow through can be dangerous.
 
Quote from Buy1Sell2:

I shorted July Oats today at 196.5 and July Beans at 601.75. These should also have some negative seasonality to them.
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I see on the day you shorted July Soybeans that it zoomed up quite a bit did you not have any stop in place? Are you saying you are still short and now your position is profitable.


Are you really trading are just pretending?
 

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Quote from myminitrading:

I see on the day you shorted July Soybeans that it zoomed up quite a bit did you not have any stop in place? Are you saying you are still short and now your position is profitable.


Are you really trading are just pretending?
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A 10 cent move is about 500 dollars, I am sure he can handle it.

I shorted oats as a hedge on my corn position so today's loss could be a lot worse. I am actually profiting for the moment, lol. I'm trying to decide if I should hold over the weekend or not.
 
Quote from myminitrading:

I see on the day you shorted July Soybeans that it zoomed up quite a bit did you not have any stop in place? Are you saying you are still short and now your position is profitable.


Are you really trading are just pretending?
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I'm really trading. Many times when the technicals look good to me, I do not use stops when using daily and weekly charts. Intraday is a different story of course. The reason I can operate without stops is that I don't commit massive percentages of my capital to the initial trade. I am still short July Beans, July Oats, and July Wheat.
 
Quote from Johnny Walker:

A 10 cent move is about 500 dollars, I am sure he can handle it.

I shorted oats as a hedge on my corn position so today's loss could be a lot worse. I am actually profiting for the moment, lol. I'm trying to decide if I should hold over the weekend or not.
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We had that gap I was talking about today in Corn. Yesterday's close was a bearish divergence. I did not trade it since I was short 3 other grain markets. I suggest getting out of corn for now and if it shows life again you can get back in.
 
Adding to the short Oat position at the close today. Looks to me like Class B Bearish divergence on both the Histogram and the RSI today.
 
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