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San Diego | a small spec trader like myself might want to check out a farmer oriented site that talks ag trades, to see what the famers are thinking.
if you noticed my posts over the years, i try to give links to what commentators are saying if it feels correct to me.. found this chat from the commentator who mentioned this site over 5 years ago- he was looking at newagtalk for 'sentiment' and of course in the 'sentiment' indicator the crowd is always wrong.
like in put/calls or vix if you see it a one way extreme then you are looking to fade the way the majority are.
http://www.market-harmonics.com/free-charts/sentiment/putcall.htm
when i came by to read newagtalk the last day dec corn hit 417.... it was all 'i'll make my 1st sale at 440' and the rockets so that was a fairly easy 'the wrong way corrigans' sentiment indicator. i think i posted in a link that day saying '1/2 your new crop must be sold, start 2018 sales'.
a bottom is harder because since in this case they've been going down quite awhile so always can bounce at any time.. looking here after usda they're saying 'double bottom in corn' or 'beans bouncing off a trendline' not enuf crying-it's better in 'sentiment' to have everybody crying at the bottom.
'sentiment' is just another tool in your bag, just like COT, moving aves or 'embedded slow stochastics' you look at them all and if you are a good trader you'll get the correct 'feeling'
(almost) TGIF ! | |
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Not a market expert but here is a great indicator
