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Buxton ND | With SIl post above, yes a .50 -1.00 is HUGE to the bottom line. Now trying to say this really easy like not to tick anyone off, this is why I was quite out-spoken with "Target Orders Above Market" and put 4.472 in print a few times. I've had that 4.50 target in mind for a good year so its from from 20-20 marketing. This summer when ZCZ hit 4.54, ZCH hit 4.64, a dime carry,toss in a say a .20-.30 better basis by FILLING THE BINS selling the carry and waiting on the basic and you had a dam nice rally. It was during the night trade when we broke 4.50,,,,,,, once it traded above 4.50 it SHOULD HAVE WENT WILD higher,,, yet it was dead as a door nail..... Maybe I should not say this is here,,,,, but IMO that was "THE PLAN" that 4.50 was not going to hold and it all came from some dam chart point...................
Now looking forward to this winter guess what, 4.50 is gonna be the target *****AGAIN***** Unless we have some Cornbore type of surprise USDA report ZCZ breaking it seem UN-likely at this time.
Tonight's open, VERY VERY IMPORTANT to corn's direction for the week and the next month or so, NOT from a charting stand point but what the fund boys well do with post report. IT IS a prefect tech book place to have a gap higher tonight***** and it only needs to do 3.876 to do it :o) This IS NOT a prediction, more wish full thinking, NO, I'm not long corn either.
I would LOVE to get as bullish as I've been bearish***** Would LOVE to post about a "Viagra Rally" (yeah I have some different market terms) rising price,,, rising OI and risen net spec longs. Its more fun to watch a market go higher then lower plus my bins are full of UN-priced wheat. In reality I have my doubts Friday's US Stock AND WORLD STOCKS AND WORLD STOCKS is enough to do it at this point in time.
"Dead as a Door Nail" | |
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2015 will probably go down in history
