Monday, June 2, 2008

Wheat Tells Soybeans To Move Higher - COVER SHORT

Wheat has broken out of its descending wedge pattern we had talked about last week and has the potential to send bullish vibrations through the entire grain complex given the pend up demand in the grains.

With this in mind, I have decided that the short position in the Soybeans has taken on to much risk and I have covered the short at break even.

This is a case in point of why it is necessary to follow an entire complex of related commodities and not just the one you are interested in trading. These complexes and especially the grains have a tendency of carrying each other regardless of the individual fundamentals and or individual technicals. So while there really is nothing new in Soybeans to warrant an exit of the short position, the potential bullish breakout in Wheat is enough to warrant a reduction in our risk levels with the Beans.

Now, should the breakout in Wheat prove to be a failure and we see its price move back into the wedge, then we may re-enter the Soybeans, but until this happens I am going to remain flat the grains.


5 comments:

Anonymous said...

Good day

We do not agree with this year BRIT awards decision.

Please go to see our little web survey

http://micropoll.com/t/KDqOnZBCWt

Lady Gaga can not be better than heavy metal

Poll supported by BRIT awards 2010 sponsor femmestyle
[url=http://www.femmestyle.li/brustvergroesserung/preis.html]brustvergr├Â├čerung preis[/url]

BRITs.co.uk - tickets left standing!! This Competition is now closed
OK

oakleyses said...

jordan pas cher, chanel handbags, nike outlet, michael kors pas cher, kate spade outlet, replica watches, longchamp pas cher, nike free, jordan shoes, christian louboutin shoes, nike free run, louis vuitton outlet, oakley sunglasses, ray ban sunglasses, polo ralph lauren, ugg boots, christian louboutin uk, air max, louis vuitton outlet, ugg boots, tiffany jewelry, polo ralph lauren outlet online, burberry pas cher, prada outlet, nike air max, gucci handbags, sac longchamp pas cher, ray ban sunglasses, louboutin pas cher, louis vuitton, uggs on sale, tiffany and co, oakley sunglasses, louis vuitton outlet, ray ban sunglasses, longchamp outlet, louis vuitton, longchamp outlet, replica watches, nike roshe, polo outlet, oakley sunglasses, cheap oakley sunglasses, oakley sunglasses wholesale, christian louboutin, christian louboutin outlet, tory burch outlet

oakleyses said...

lululemon canada, nike air max, burberry outlet, oakley pas cher, burberry handbags, coach outlet store online, kate spade, michael kors outlet, michael kors, nike air force, true religion jeans, true religion outlet, michael kors, polo lacoste, nike tn, new balance, abercrombie and fitch uk, michael kors outlet, uggs outlet, michael kors outlet, ralph lauren uk, michael kors outlet online, replica handbags, coach outlet, true religion outlet, coach purses, nike free uk, sac vanessa bruno, mulberry uk, michael kors outlet online, michael kors outlet online, michael kors outlet online, north face, uggs outlet, converse pas cher, hogan outlet, nike air max uk, hollister pas cher, sac hermes, nike roshe run uk, hollister uk, nike air max uk, true religion outlet, timberland pas cher, vans pas cher, ray ban pas cher, guess pas cher, ray ban uk

oakleyses said...

ipad cases, beats by dre, iphone 6 cases, ferragamo shoes, wedding dresses, hollister clothing, p90x workout, instyler, asics running shoes, nike huaraches, hermes belt, north face outlet, s6 case, babyliss, nfl jerseys, hollister, iphone 6 plus cases, insanity workout, ralph lauren, iphone cases, iphone 6s plus cases, bottega veneta, new balance shoes, longchamp uk, iphone 6s cases, giuseppe zanotti outlet, nike roshe run, mont blanc pens, herve leger, oakley, lululemon, timberland boots, nike air max, iphone 5s cases, ghd hair, valentino shoes, louboutin, nike trainers uk, celine handbags, north face outlet, baseball bats, vans outlet, abercrombie and fitch, chi flat iron, soccer jerseys, mac cosmetics, mcm handbags, soccer shoes, jimmy choo outlet, reebok outlet

oakleyses said...

supra shoes, marc jacobs, canada goose, converse outlet, toms shoes, ugg uk, ugg pas cher, canada goose outlet, canada goose, nike air max, louis vuitton, karen millen uk, doudoune moncler, converse, louis vuitton, vans, gucci, montre pas cher, moncler outlet, canada goose uk, canada goose outlet, moncler, pandora jewelry, barbour uk, moncler outlet, juicy couture outlet, louis vuitton, canada goose, pandora uk, coach outlet, swarovski crystal, ugg,uggs,uggs canada, juicy couture outlet, links of london, louis vuitton, louis vuitton, hollister, swarovski, canada goose outlet, ray ban, moncler, ugg, barbour, ugg,ugg australia,ugg italia, replica watches, pandora charms, moncler uk, pandora jewelry, wedding dresses, canada goose jackets, hollister, lancel

Trend Analysis LLC Headline Animator