Today I like buying SX on the fact that $15.18 1/2 back held after a test of $15.04. SX rallied up to $15.43 today. I like buying futures or spending 13 to 15 cents a bushel on SX $16.20 calls.
I also like buying some CZ 7.70 calls in the corn.
We are one week away from the USDA crop producition report on Oct 11. Beans had a 2.60 cent break in 14 trading days.
CZ held tough the whole time, as did the wheat.
Bottom line, this is the break I think we have been waiting for.
One more item. Gold i s approaching target at 1800.
I’d be looking to exit profitable longs with resting limit orders at 1799.00
If you want to remain long, especially in front of the weekend and the looming US election, I’d adjust my sell stops accordingly.
CER