Wednesday, June 27, 2012

Corn 6/27

Exited all positions last night at what turned out to be the low of the day... Pulled 100 cents out of the market and went to bed happy... wasted most of the day away feel super proud of myself for accepting profits thus allowing me to trade more since i know have alittle buffer... Reentered the market today grapped a Sept 660 call for 31 cents at 1:00 or so, then picked up another at 7:00 pm for 26.6 cents.  Current cost for both is 28.2 cents currently trading at 27 at 623...  Expecting to see a bounce off 620 but thats what I said at 630... Tomorrow is the Big USDA Stocks and Acreage reports... Trade expecting higher acreage and less stocks, however with the slow down in ethanol, I am worried about this current trade... I anticipate holding it over the weekend, unless it turns south, in which case, I will exit and try to reenter at a better price later... want to be long going into the weekend but may see some sell off.... will try to protect my investment by having a limit order ready to go if she takes a tumble... May The Force be with You...

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