Monday, April 30, 2012

Corn 4/30

10:30 Corn opening at 627 on the July/June & Current month... expect to see a small run up at the open and possibly an entry position to purchase puts...

12 comments:

  1. Took a small put position... 625 June Put, paid 17.1 cents... Entry at 623.5...

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  2. 11:03 Steady at 624 / 623.5 looking for a break below 620 today... VP has a range of 615-630... 631 was touched in the overnight...

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  3. 11:29 corn trading at 627, option value down 2 cents... nice rally off the of low of the day... obviously, I do not expect it to continue, however I am not liking what I see on the chart and a break above 628 scares me out of the trade for a loss...

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  4. 11:33 Actually, I have talked myself out of being afraid... coulda paid a better price for the position, but still like wat I see... A break above 630 Jeoperdizes the trade... otherwise... will let this take its course...

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  5. 11:40 bounved off 627 6/8... ouch really close... to my scare me line... need a break lefow 623 6/8 to start the downward race...

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  6. 12:00 behind the eightball just a bit, currently at 626 with a 30 in red candle... 30 min shows MCAD heading down with a continuation of a crossover from the overnight and finding some divergence..

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  7. 12;25 Looks like I got in at the low of the day... pushing up towards 629 currently... need a break down...

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  8. 12:46 I expect that is the high of the day... half way through thte trading day and I see a doji setting up for a test of 625...

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  9. 12:57 looks like it was wrong... trying to reach 630...this is gonna hurt... currently down 3 cents...

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  10. 12:58 looking close to a 30min MCAD crossover to the upside... starting to 2nd guess myself...

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  11. 2:00 bouned off of 630 and took a 1/2 hour "tumble" of 2 cents... currently at 627.5 with 15 minutes left in the trading session... looks like I am gonna hold overnight... current value 15.1 down 2 cents on the trade as of now...

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  12. 2:15 end of day rally puts me down on the day by 30%... initial investment 17 cents, closing value 12 cents... close 634... Everyone is calling for more buying tomorrow... holding puts as I do not believe it... will see...

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