The move is simply taking too long to develop and looks very labored and tired.
Usually this is a clear sign of a market that is about to make a swift decline.
I would much rather take the 28% loss then sit in this position as the price goes into collapse.
Aggressive traders could sell the March 08 contract short, however, I am going to pass on the short as I have many positions open right now. Perhaps too many!
I will be looking to pare back some of these open positions as all of them are showing a profit and some very handsomely.
Corn is probably going to be the next position I close as I have amassed quite a sizable position and the original position is showing a better than triple on my money.
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