Wednesday, October 26, 2011

Trade update for Jeremey

With corn under pressure this morning I am going to add a stop to ensure that I can lock in a profit on the open corn scale selling trade that I have on.  I presently have 12 short Dec corn; that i started selling at 6.43, I then sold 1 at 6.47, 2 at 6.50, 3 at 6.55, and 5 at 6.60.

I am going to place a stop in at 6.40  1/2 ; while orders back to re-enter original trade if I get stopped out.

Basically this market has traded sideways for some time; so my thoughts are perhaps there is a decent chance it continues until new news finally moves it one direction or another.  So in the mean time try to take what the market is giving us.

Here are a couple charts to help show my thoughts.

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