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NE IOWA/ SE SD | I know I got a little less experience with all this $4.70 corn than the rest of you, BUT any chance that the massive sell off at the end of the session was tied to the DJI plunging.......however now that the DJI rebounded by bargain hunters. Is that going to be enough to pull the players around to see that it made the dreaded 2,577 (to see how i got this number see my reply from yesterday about the DJI) point retracement/PLUNG (with help from the Hyper Hypos and very pestimistic media) and make trend upward again.
And in MAR08 corn chart it has closed three of the four gaps and is 12 1/4 cents away from closing the fourth (4.57-4.59) and is 14 1/4 cents away from making a 38.2% retrecement to $4.55.
I knew after the big move up it finished a long run up but needed multiple down days including a couple limit down days to make a correction. And WAS comfortable at the end of the day, but after reading you guys you got me nervous. At the beggining of the the day I was hoping for a big down day followed by a turn around day thursday (opening slightly up before running down and finishing the above corrections and then finishing the day steady and start another hard run Friday with new export numbers)
Thats my thoughts in a perfect world... which I know we are far from a perfect world. | |
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Is anyone still bullish
