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| Good. Think like a fundamentalist but act as a technician. I do not dispute the day to day concerns of anyone in regard to the scary news...except, it is the posture of the Fed to keep the markets a little off balance & a little worried-they cannot make it too easy to figure out what they are doing as it would unfair & their primary mission is to keep inflation under control. Let us never forget, while the Fed is in a box here, they do have some pretty sophisticated tools. They can create more dollars overseas thru swaps & while everyone is on China's case about their currency...I am going to bet that behind the scenes we are working hand in hand with China. China can revalue their currency a tiny bit in here...pressure the dollar...also, while the administration always talks a strong dollar, they like the weak dollar as we need the exports to offset the housing deal. When I went thru these numbers last night, the corn market is no big deal...am staying with long nov beans & short nc corn....this soybean deal is NO JOKE. If some surprise creeps into this soybean market..it could get serious. I just want to be very cautious in here, but not cute. If its not broke, don't try to fix it. These financial stories of the past couple of days will put pressure on the fed to act...maybe sooner than we think.
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The technician's (chartist's) viewpoint
