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.