Wheat
- Thread starter redbull13
- Start date
Looks to me like it's forming a symmetric triangle. I'd be more inclined to buy a straddle at the apex of the triangle (335) but hey, that's just my opinion. This play assumes wheat will either break sharply upward, OR break sharply downward, from 335. Well duh Goober, that's what a straddle NEEDS to be profitable. Der.
With the commercials so heavily net long I would hate to bet against them over the long term. However, the last half of Jan is traditionally a very weak period for Wheat so you have the seasonals working for you.
I've been short wheat since early 2004 - but I'm getting nervous.
Good luck.
I've been short wheat since early 2004 - but I'm getting nervous.
Good luck.
Speaking of the commercials, check out www.chart-ex.com. It shows volume at price for many different commodities, and it has a feature that shows where the locals, firms, and funds are buying at. Anyways, how long have the commericals been long for? What price range?
TF,
Thanks - however I think that link should be:
http://www.chart-ex.com/chart-index.jsp
What feature tells you the levels where the various parties are buying/selling. I can't find it?
Have a look at the chart I posted - this shows the activity for the commercials over the last few years.
Thanks - however I think that link should be:
http://www.chart-ex.com/chart-index.jsp
What feature tells you the levels where the various parties are buying/selling. I can't find it?
Have a look at the chart I posted - this shows the activity for the commercials over the last few years.
Bolter,
To view the CTI numbers you hold down shift while on a chart. When you click you will see some numbers show up under the bar (like 1:10). The first number represents the who, and the second number represents the number of contracts bought and sold. I believe 1 is locals, 2 is firms on the floor, 3 is just off-floor, and 4 is the funds.
To view the CTI numbers you hold down shift while on a chart. When you click you will see some numbers show up under the bar (like 1:10). The first number represents the who, and the second number represents the number of contracts bought and sold. I believe 1 is locals, 2 is firms on the floor, 3 is just off-floor, and 4 is the funds.
"Buying a straddle at 335" means buying a 335 call and, simultaneously, buying a 335 put. It's a bet that price will move substantially away from 335, either higher or lower. If you don't believe that price tends to make thrusting breakouts from a symmetric triangle, don't put on this trade!