Soyeans kicking a$$ today!

[boarderbloke]

CBoT open today,,, Beans up 20 3/4 nearby to up 12 July 2012...Soy Oil up 1.08 nearby to up 1.30 July2012...Soy Meal up 2.7 nearby to off 0.5 July 2012.
Hope it continues tommorrow, being a Fri and all.

[Kodiak]

Oh Oh, how things can change in a hurry! I don't like the feeling of getting my a$$ kicked by the soybean market tonight.

Correction in a volatile market, or trend change? We will find out soon i guess.

[boarderbloke]

Crap! Same thing happened last time ICE was closed and the CBoT was open, they had a rally day while we were closed, then sold off the next day, taking canola with it.

[fjlip]

Is this a BLACK FRIDAY or what? Canola down $24, Soy -0.70, corn -0.25. Major correction? China interest rates doing this?

[charliep]

I would look at a chart. Has been pointed almost straight up. Markets very rarely do this and will correct along the way.

An analogy from a seasoned market analyst was to compare to an airplane where you have pointed the nose straight up in the air (a pilot will have to use the precise term). Eventually the plane will stall and go straight down. Can you pull the plane out of the stall and send higher again - maybe but that is a new period.

Gone up very fast. The market will go down until it finds commercial demand (buyers who are trying to cover their actual physical needs for product) and that may be the start of the next leg up.

My two bits.

[parsley]

http://market-ticker.org/akcs-www?post=172082