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Short CZ13 at 567, 569  as per yesterday’s instuctions.  CZ settled at 555.
Take profits on half.  that’s 13 cents a contract, or 650 each contract.
Lower your buy stops.
Downside cover targed is 5.34 and then 5.22.
Stay with your gold sales. Just make sure you have stop orders above.
CER

Fridays high was 1484.  I’d be a scale in seller at 1500 or,  consider buying 1400 puts for a minimum loss.  3 or 4: 1 payoff.

In the grains, weather worries sparked short covering rally. I wrote about buying calls last Thursday.
This, in my opinion is a rally to sell.   IN CZ13  scale in sells between 5.67 and 5.75.  Have buy stops above at 5.87.
That’s about all for today.
Good trading
CER

Sell june gold between 1470 and 1505.  This is rally to sell in my opinion.
On March 21st june gold printed 1619  April 16th we printed 1321.   1/2 way back???? 1470   That’s my first sell.  
If we for some reason pop above that,  and its possible:  I’d be a seller at 1505 with both hands and both feet.
For all you Monday morning quarterbacks out there, if you doubt me,  then fade me.  We’ll see who has a profit in their account come May 30th.

That’s all for now.

That is all

Corn: May corn settled up 7 ½ cents at $6.52. December settled up 5 ¾ cents at $5.47. For the week however, May lost 6 ½ cents and December lost 3 cents. Generally a quiet news day for the grains aside from continued talk of cold, wet weather delaying planting. Some stories of farmers in the Delta throwing in the towel on planting corn were supportive. Funds bought 4K contracts today. Focus remains on the weather. Here in Chicago we went from flooded streets to snow flurries as Mother Nature can’t seem to make up her mind. Planting progress will be released on Monday. The […]

June gold fell to 1385..  1367 is my down side support, but that could be run through like a Sherman tank going through Pizza Dough.   If you try to pick the bottom, god be with you, and make sure you have sell stops to protect yourself.  Ditto on Silver… Down 2.63 at 23.70 April silver has dropped from 32 bucks an ounce to today’s low at 23…. That’s going to leave a mark.

Corn, Wheat, Beans,  all taking it on the chin.  new crop beans down 10,  Wheat down 18 , New crop corn, after completing its 50% retracement has fallen from 5.50 to 5.35

Risk […]

1) gold’s low today is a 38% retracement of the rally which started back in 2008 when gold was at 800 bucks an ounce.  Next support in Gold is 1367 and then 1237. 

The report came out friendly old crop corn and we got a good bounce in CK up to 666.  Fortunately, we only paid 200 bucks for each put, and with 14 days left of life for those options.
They still may pay off.  A lot can happen over the next 2 weeks.  I’m actually buying some more cheap puts, because I think this is a head fake rally.

Interestingly,  The rally […]

CK has rallied 20 cents after a $1.00 break.  Number comes out at 11. Make a 4 cent bet to try to make 20. 5:1 odds.

CER

I think this report is going to surprise the bulls again.
They dressed things up to look so well in front of the number.
I’d have cheap may puts on corn , wheat and beans.
May options are cheapest way to play the short side.
Plan acccordingly.
CER

New crop Corn remains well below its 33 month Trend line of Doom.  I don’t see anything baring an act of god or nature that will let us see 6.00 corn again for a very long time.  We’d have to get a 4th year in a row of drought.  That seems very unlikely to me.
CZ looks bound and determined to go down and get the $5.00 print. Today’s low settlement at $5.35 was the lowest in 10-months.
Corn has just had a baby, lol.

Old crop CK made a new low for the move  CK has dropped $1.11 in 6 trading sessions.  15 % […]