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Northern Illinois | imo this one fits perfectly with the farming the board posts from last week. I think if a person is going to farm the board they need to look for markets that are at historical lows. While wheat has definitely been lower than the current price if a person looks at weekly and monthly charts wheat is at a price level that makes it appear low when looking at the last 10 years. If we believe that markets turn on the most bearish and bullish news wheat is definitely worth taking a look at. Another thing to take a look at is limiting your risk. The wheat market fits that. It is very easy to see where to put your stops. I take a long term approach to things. Again looking at charts a person can reasonably expect that wheat will trade above $9.00 in the next few years. So the question is from what price level do we start that rally? imo it is worth risking a couple $1,000 to see if we start from here. Cool thing this a.m. is if a person does not want to risk those couple $1,000 is you can put your stop at your entry point from last Friday and only be out your commission. | |
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The Leader ?
