Youngtrader's Commodity Journal

Mike

Thanks for the advice (I agree with you 100% on the fundamentals you just presented). Yes I was a little premature in that trade. Got an opinion on wheat and corn? You sound like a smart guy so keep the opinions comin lol!
 
Nothing happening today unless I can get some march sugar and march corn bought. 980 or so for sugar and 390 or so for corn.

Don't expect to do anything with my positions I have on.
 
FWIW, the seasonal chart on that BO trade has an entry on Nov. 18. I was waiting for it, and I was surprised when I saw you had gotten in...
 
Quote from jimbohanna:

FWIW, the seasonal chart on that BO trade has an entry on Nov. 18. I was waiting for it, and I was surprised when I saw you had gotten in...
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Yes the seasonal trade was premature also (boy I really must of fucked up this trade for all the shit im getting lol). IMHO seasonal stratagies must be looked at a month ahead of time and a month afterwards. The markets are deffinantly seasonal but not so seasonal that you need to wait until the exact date to put the trade on. The profit opportunities are a lot better by looking at them ahead of time or afterwards and trading accordingly. A good example of this is meat spreads.
 
Out of my jan canola at 451. Its a low tick contract so only out about $80 but its still 80 bucks which would buy me a couple tanks of gas in my piece of shit oldsmobile! Can't really understand the reason for it today but it just kinda blew up. Probably the canadian dollar declining. I mean beans were unchanged and the fundamentals along with the chart showed canola should trade lower for a while. Thats what I love about this job, you think you have it all figured out and then BOOM you get stopped out! Lol you got to love it!

March cotton did really well today. Down 1.31! Looking at 65.50 here for a profit target but I want to see how it reacts to that level. Could be more sell stops!

Sold 1 more july wheat at 683. Average is 689 on the 3 contracts now. Just taking advantage of the short covering here.

Not sure what to do with march corn here. Gut feeling says its a buy at these levels but chart action looks a little toppy imo. Gonna have to sleep on this one and decide who get the trade, the chart or the gut feeling.

I can't get any sugar bought at all! I need sugar but am not willing to pay up for the stupid thing. I have a feeling this thing is going to be off to the races very shortly so im just waiting for a fill.

Out of my corn put today at 5 cents. 7 cents profit here so can't complain. Besides I need some margin money in the event I sell more wheat or buy some corn or sugar. Still short the worthless apple $200 call that everybody thought would be gold not to long ago. Expires next week I think.
 
Nov 200 Apple call is officially worthless now. $300 profit on that trade.

Wheat traded lower today. July down 12 cents to 665'2. Didn't quite make the 650 mark that I thought it might but still lower on the week and looks to only go lower from here. Like I said yesterday my average on the 3 is now 689.

Cotton traded lower today. Down another .43. The cotton market is really starting to look at the fundamentals here. Exports were on the low side and stocks keep building along with our higher yield numbers. The market is breaking every support level and is getting no upside support. Although I think cotton is a huge long term buy due to the expected reduction in acres I think we will see this kind of trade until the end of the year probably. Like I said I will keep an eye on the 65.50 level and see what it does there and make a decision after that on what to do with this trade.

Sugar traded down to 981 today and I am still kicking myself for not just taking it but I didn't know that it had traded down there. Being in school sure is a disadvantage somedays lol!

Have a great weekend everybody!
 
July wheat up about 3 cents overnight. Shouldn't have much support at anything higher than 675 so I expect this to be short lived. Boy what a long consolidation pattern in this market though! When this market breaks it is going to be huge!

March cotton up .26 today. Just a little short covering going on here. I don't expect it to be to much but I might just get out of my cotton if I think its right. Just have to see on that one today.

I WILL GET SOME SUGAR BOUGHT TODAY!!!! Unless of course it blows up but like thats gonna happen lol!

Looking to buy some jan lumber today around 260 if I can get it done. This market is finally starting to turn around and look a little higher. This would compliment only the seasonal tendency that occurs in lumber. The fundamentals are still really bearish.

Should be an interesting day all together!
 
Out of my march cotton at 66.50. $750 profit. Will look for a small rally here and try to get short again.

Still hoping for that sugar. I hope to get it done before I leave for school but I might just have to leave the order with the broker.
 
Well today I think the futures markets must of been after all the teenage traders in the market lol as nothing worked for me today.

Like I said out of cotton early in the morning for a nice gain but should of held on as it traded lower on the day.

july wheat was up 13 cents today.

Bought some march sugar at the price I wanted of 9.80.

Bought some jan lumber at 260.

Not a whole lot to say about any of these positions other than they didn't work out today. I have no change in feeling for any of them and expect them all to be nice winners but obviously the rest of the market didn't seem to think the same way about them.

Hopefully a better day tomorrow.
 
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