Grains Journal

Quote from Buy1Sell2:

I guess. The gap up hasn't produced follow through buying yet, so I think one would want to be careful just jumping on right now.
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I believe he is going to trade it short-term near summer time, he's just made an observation & commented upon it vaguely.
 
Quote from romik:

I believe he is going to trade it short-term near summer time, he's just made an observation & commented upon it vaguely.
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Well I certainly think that Corn should be played from the long side without question especially since the crop year hasn't even started yet. I personally think it would be best to let it consolidate for a while and perhaps even pullback into February before getting long. Maybe that's what he will be doing.
 
Quote from Buy1Sell2:

Well I certainly think that Corn should be played from the long side without question especially since the crop year hasn't even started yet. I personally think it would be best to let it consolidate for a while and perhaps even pullback into February before getting long. Maybe that's what he will be doing.
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Like yourself, the guy is really good, ex Comex pit trader. I find it interesting how he can narrow down on a level to either buy/sell for the next day & price pretty much takes off after reaching that level.
 
Quote from romik:

Like yourself, the guy is really good, ex Comex pit trader. I find it interesting how he can narrow down on a level to either buy/sell for the next day & price pretty much takes off after reaching that level.
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I'm really not that good. I suspect that this gentleman is quite a bit better trader than myself. I have no idea the day before where levels will be.
 
Once again we are sitting at the bottom of the top of that gap with 4.82 support basis July Wheat. My belief is that it will break down and accelerate once it crosses through 4.74. Don't know when of course, but I am staying short for now.
 
It's a patience trade--this short July Wheat. Intraday charts today give something to hang our hat on. (10 minute chart)

When/If the 30 rolls, I will add to the short position. No other grain trades on right now.
 
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