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| Quick reversal today.
High of $13.41
Close: $12.97
Just profit taking? or... sign of a possible blow off top. I think it is too soon to say things are going the other way, but that is a significant pull back. The corn tried to follow, but ended fairly strong. Every time there has been a nearly vertical climb in the the grains (past history), there has been a serious correction to follow. Anyone who doesn't agree that this will happen is simply naive. I still haven't heged my remaining '07 corn, but the day I do, there will be a speculative short term put with it. March options expire in about a month, but this market could move $1 EITHER way in about 2 weeks in my opinion. The higher it goes, the easier it will be to make money on the down side. Short term options seem to be the best way to go. Usually they expire worthless, but this is a brand new game. Anyone else thinking similar things? It's about time the farmer gets a chance to get ahead! | |
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Old Crop Beans
