Saturday, July 21, 2007

Keep The Stop Close

Corn is at the crossroads here.

The second leg down has not equaled the first leg down in price, so there is room for a bear market rally here. However, the lows were taken out and this would call for lower prices yet still.

The best plan of action is a tight trailing stop that will lock in our profits on corn should the market begin to rally.

One thing remains clear and that is the fact that the ultimate bear market low for corn has a long way to go before it gets here.

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