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My order was waiting for this day
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tex
Posted 6/30/2020 13:42 (#8345511)
Subject: My order was waiting for this day


I had a GTC order put in about a month ago to sell sept corn at 344 and got filled today.

I new the technical guys would try to run stops at some point targeting the March 18-2020 lows, which in Sept was 346. Sept got to 345.75 today but failed.

Dec corn contract March 18-2020 low was 355.50. Today dec hit a high of 354.25 then failed to go higher.

We are still in a downtrend with 2.90 to low 3's as a target instead of 2.60 to 2.70.

Weather could still change that but with more analysts now talking multi year depression instead of recession how big of a gambler are you?

Before today I was covered with 3.40 sept puts and was thinking about rolling higher but with todays fill I will be double short which may or may not add to my price in the end . I will not chase this market or buy calls.

Edited by tex 6/30/2020 14:18
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