|
Buxton ND | Meal is one of those market where the party was over BEFORE the party was over or breaking $340 but we did not know that til last Friday afternoon..................Just another market where I put the term "we're leaving" this time in a BIG WAY as the spec longs sold 10% of their positions in 5 days............. Spec funds are still net long meal,,,,,,,,,,,,47k,,,,,,,,,,,,,their NET SHORT BEANS -22k,we're headed for a blood bath in the meal market as that 47k plays ***"catch up"*** to the -22k
I normally do not watch meal at all,but with all the comments the last month or so it got MY curious up so I started watching. Pulling up a monthly chart this morning. It looks like meal is heading to $250ish. Its heading the SAME PLACE that corn did FIRST,beans are working on NOW and meal well be NEXT. Or at least its a pretty good bet.................................. I'll be nice this morning and no chart trivia,,,,,,,,,,,,the place is the 200 day MA on a monthly chart,BTW that number 256.4 in meal.
I've commented twice buy meal "hand to mouth" NOW I'll add if you feel the need to buy a bunch of meal "hand cuff" to the dam "JOHN"
PS beans left a big gap on the weekly chart for September.
CHECK OUT MEAL'S........................................................................................ | |
|
Meal just tied a log chain around its neck
