The low held; who knew? The high so far overnight on news that a deal might be penned by Friday to raise the debt ceiling? 14862.
Today looks like it will be a “risk on day” as fears are abating about a default or a continued shut down.
Buy dips in the index. Look for a rally until the deal is penned, then most likely you will see a buy the rumor sell the fact move where we spike higher and then head lower.
As for the grains, 13.05 has been recent high/ resistance in November. Sell against that high any current longs. Take profits.
If you are a farmer, take advantage of this rally. if CZ gets above 452, I’d scale in selling up to 4.65.
If you are worried prices will keep going, this morning I am replacing cash sales with CH 5.00 calls for 10 cents a bushel.
Too bad my crystal ball is broken. All you had to do was buy 100 Dow Contracts yesterday on the stone cold low and you would have pocketed 200K in 16 hours. * Please note I am being sarcastic here_ Although I am sure some broker out there is going to tell people that he was able to do this.
There’s going to be a lot more chances to catch moves between now and the end of the year.
Hind-sight trading company has a lot of subscribers to it, however.
CER
