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Buxton ND | OK lets look at corn and see where the numbers are.
Holdings, number of positions,futures only,8.26.2014
Commercial 1042k
Non-Commercials 961 includes spreads
Small traders 382k
If I could find that non-commercial number from 10 years ago we would all be shocked at how LOW IT WAS...........Would everyone like to go back the pre-E boom years/pre spec money years when corn moved a dime in 2 month. REALLY anyone wanna go back to those dam boring markets ? ? ?
The fact is,,,we have all seen the fun and games when this spec climbs on the bullish band wagon.............. Now reality has set in and we see what happens when this same money is on the bearish side. WE'VE SEEN THIS BEFORE GUYS it just happened very quickly in 2008.......................
Now that I've ticked off half of NAT land I will give you my positive view !!!!!!!!!!!! :o) IMO the fund boys will be back at some point in time,given some new bullish "news" When they do,,,,,,,,,,,,,we have the *****Mother all gaps in a weekly corn chart***** as a target that's screaming bloody murder to go fill me,,, once the money returns......................................................... Now this coming from me and the high level of that gap may surprise everyone......... I will not tell you the gap price your gonna punch up a chart and find it your self :o)
I am still neutral corn,I am trying to work on my BULLISH SIDE but right now the numbers are just not there for me to get jump on the bull. | |
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The market doesn't owe you a profit
