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| Talked to an old friend last night, a pretty decent technician, he was wondering about my view of these markets. As I have probably mentioned before that while I watch the technical side very carefully, I do not consider myself a good technician.
He is.
He wondered if I'd seen the speculative advice which supposedly was issued by a major wall street house in the past couple of days projecting soybean futures to 18 & wheat futures to 12.
He follows weekly charts as he views them better for a longer term trader, & has a lot of market experience & indicated he cannot argue with their projections. He thinks we are subject to a correction in here, but thinks the breaks have to continue to be bought in wheat and soybeans as there are no solid technical sell points yet. He feels hog futures could drop to the 51 area & is going to start selling those futures sometime this week.
Just one more opinion.
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Pure Worthless Rhetoric
