13,300 proved to be the head fake point for Dow Futures. If you’ve been reading, you know that I had ALL my short futures blown out with that settlement above the 13,300 level. . Since then we have been mired in this narrow 300 pt trading range. Today’s low in the March Dow, at 12,894, took out 12,900 by 6 ticks. Bottom line, markets not digging the news coming out of Washington. March S&P holding a small gain, though so its really not too smart to get too excited one way or another.
If you are smart, you don’t have any major stuff on now […]
Blog Archive
New Crop 2013 Dec Corn settles below $6.00
New Crop 2013 Dec Corn settled below $6.00 today. This is the lowest settlement in 4 months.and opens the door for a test lower down to a test of $5.88 and then $5.70 Why 5.88? Tis the 1/2 way point from the big summer drought rally. The settlement below the round number at $6.00 will attract fresh selling, in my opinion.
To refresh. The low on Jun 15th was $5.11. We then rallied all the way up to a high in Sept 9th at 6.64.
Be patient. A dip to 5.75 should be the area you want to cover shorts and/or initiate long speculative positions, […]
Merry Christmas 2012
Looking forward wishing all a Merry Christmas and a Happy 2012. I hope you can all profit from reading this letter and I mean it with all due respect. If you like what you have read and would like to become a client, please contact me at christianrobinon1@gmail.com
I will be back with a comment on the 26th or the 27th if I see something worth talking about.
CER
A Mayan Christmas
Written by Chris Robinson
Corn: March corn settled up 5 ½ cents at $7.02 while new crop corn CZ settled up 3 cents at $6.06 ¾. For the week, CH lost 28 ¾ cents, while CZ lost 21¼ cents. A quiet end to the week after the fireworks we had earlier as CH only had an 8 cent sideways chop with most of the activity occurring between 7AM and 9AM before the pit trade was even open. January options expiration proved to be a non-event for the most part. […]
Dow Down 200– take profits on short positions
The Dow broke another 100 pts since my first entry this morning. Take profits on at least 1/3 of the position. If you only have one or two on, move your buy stop down against yesterday’s high and sit tight.
Sunday night we could be either 200 pts lower or back to unchanged. Its a definite flip of the coin. If you have a winner, do not let it turn into a loser.
CER
Dow Flash Crash overnight-take profits on sales
Europeans did not like failure of the Republican plan B to end the fiscal cliff. March has been top step for a bit, so I am switching from Dec to March. Yesterday’s high was 13,270. Yesterday I wrote that I wanted to be a seller of rallies, with a safety parachute in the form of tight buy stops.
Assuming you had a short position, you should have awoken to a nice profit in your account. Overnight we broke, 300 points from high to low. the low tick was 12,963 so we took out the 13,000 mark by 37 ticks. Currently we are at 13,140, about 180 […]
Deal or No Deal? 13,300 is the pivot point
If we don’t get a deal by Xmas on the fiscal cliff, I’d rather be short than long. We took decent profits on the last break down. Granted we never got the 13,000 level, but we may sometime soon if we keep grinding here.
1) Remember this is December and trade is thin.
2) Remember to not get married to a position. Its more important to make money than have your ego stroked by being correct.
3) Trade management and management of losses is the key to prospering in the markets.
That being said, I’d be looking to sell rallies in Dow Futures. You must […]
5-month low Corn and Wheat
December 19, 2012
Written By Chris Robinson
Corn: CH settled down 17 cents at $7.03 which is a new 5-month low settlement. New crop CZ13 settled down 9 ½ cents at $6.13 ½ which is a one month low settlement. Corn posted its high early and then headed south for the rest of the day. Informa released an estimate of 99.026 million acres for anticipated corn acres in 2013. This was up 1million acres from their last estimate. One word, “Bearish”. […]
12/18/12 update
1) Fiscal cliff, on again, off again. Bottom line, watch the key resistance at 12,300. I might expect an intra day pop above there just on weak short covering. I’d be more inclined to watch where we SETTLE. A settlement above 13,300 blows me out of all my short positions. Forewarned is fore armed.
2) Rain in the plains putting a little pressure on wheat. that 809 level has now been tested. If we settle below 8.00, that opens the door to another 30 to 50 cents lower. A lot of producers were wary to sell b/c its hard to sell forward dirt. However, the […]
Friday 12/14/12 Update: Short the Dow: Long the Grains
You should still be short Dow futures. Currently trading at 13,129. The first support I listed yesterday is close. Within one tick. Today’s low so far 13,117. I had 13,116. close enough if you want to cover. There is a half hour left to go before market closes.
Book profits. Move down protective buy stops to insure profits or at worse case, a push.
12,986, 12881 and then 12,776 are downside support targets.
Make sure you keep buy stops in place. Make sure they are buy stops and not limit stops. Sometimes with limit stops you can get traded right through and then have […]