Monday, December 10, 2012

Do or Die time on Wheat

Well, Grabbed another 3 calls today at or near the low... got (1) at 852 for 7.5 and then (2) at 847 for 6.5 the low of the day.  From there, Wheat rallied to 852, but of course crashed at the close to 848... Son of a Bitch !!!!  Did not check the value of my options at the close, well, because, frankly it doesnt matter... The report fun will begin tomorrow, I know that most traders are not looking for any adjustment and an actual decline in exports to bring the carryout higher, but this just doesnt make any sense to me.  The drought continues folks, subsoil moisture is non-existant and Wheat is the worst its been in 60 years... talk of wheat being blown from the ground and brown... considering that Dec is the worst time to trade commodities, means that I may have fucked up and probably should have taken my own advise and not traded until the new year.... instead I am holding (10) 9200 Feb Call Options with a DCA of 9.7, I was the last trade on those options at 6.5 at 847... it wouldnt take much to get me back into the money just as it would take much to make me wanna go grab a rope and find a tall tree... Until tomorrow when I report whether I have lost my ass or made some $$$... May the Force Be With You...

No comments:

Post a Comment