Wednesday, April 30, 2008

SOYBEANS - Short July Beans

We were waiting for a small rally in the July Soybeans somewhere in the neighborhood of a 50% retrace and intra-day today we got just that.

We are now short the July Beans from 13.30 4/8 with a tight close only stop loss at 1365 even.

If in fact my analysis of the Soybean Market is correct then we should see and almost immediate decline from here and also in a rather dramatic fashion. This will allow us to know right away if I was correct and if the trade should continue to be held or not.

No comments:

Trend Analysis LLC Headline Animator