|
Mascoutah, Illinois | If the overnights open sharply higher, I am a seller 15-20 minutes into the open. I would not sacrifice these prices because I love a "short squeeze" gift. The shorts will try to lean all over this thing on Monday and try to push it lower as the day wears on. If they are not successful, sell a bit more on the close.
I hope we open lower because I believe it gives credence to this thing having more room to the upside. I believe we have at most 5-8 more trading days left in this rally depending on how Monday plays out. Once you get past August 21, you are playing with odds very stacked against you. Monday is not going to be for the faint of heart. It will be wild and wooly. I think the swings will be enormous if we open sharply higher.
It is always constructive to sell into a rally. If I remember my notes from earlier this evening, March 2011 beans are inverted. Someone is giving you free advice on decision making. Basis is strong and I would take full advantage of it. If someone wants to pay up, let them assume the risk not you. I would be 50-60 percent sold in new crop beans, if not more, if this ship rockets higher at the open on Monday. | |
|
Soybeans..Can the market be wrong?
