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Northern Illinois | I am looking at MWE. I have established a 1/4 position with buy orders in above the market if she decides it is time to rally I will get stopped in. No reason in particular and I really don't look for reasons on spec trades. Looking at monthly charts historically (last 10 years) MWE doesn't spend a lot of time under $4.00 and when it has been under $4.00 it has rallied nicely in fairly short order. As mentioned before the risk/reward to me is get long with a small amount and a sell stop under the market so a person will not get hurt and buy orders above the market if it does go in my direction.
I like to look for markets that are under or over priced in relation to the last 10 years and in my mind think how I would want to play it. It doesn't need to happen often but the key for me is to have orders in place so that I don't need to make a reaction type entry into the market. In MWE case it will trade back above $9.00 sometime. I don't know when that sometime is but it will happen. | |
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Lets Look at Wheat
