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Todays markets?

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    #1

    Todays markets?

    Never did hear a good reason for this afternoons fallout in wheat. Bullish USDA report then bang. Fund money?
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    #2
    furrowtickler,

    I had to chuckle when the supper news talked about $9/bu wheat... how it had gone up so much... while the markets were limit down today.

    If this isn't the top... I will be surprised.

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      #3
      I agree, cotton any thoughts? Nothing goes up for ever.

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        #4
        My guess is to far to fast and the shorts stepped in.Probably a short term top.I would say we'll be taking a trip down to the old high of around 7.50 and then some sidways trade before the next leg up.

        I'm wondering what moves next.Gold and oil are rumbling and would suspect 850 and 120 are not far off(six months).The us dollar is in big,big trouble and HAS gone over a cliff,the question is how low it goes.If bernake cuts anything over .5 of the funds rate all bets are off and every commoditie will rocket.He will cut because the OTC(over the counter) dervative market is in desperate need of liquidity and if this dominoe ever falls it will be back to the stonage for us.

        The biggest money makers in the next 12 months IMO will be sugar,natural gas and maybe cotton(lol)and hogs.

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          #5
          you have to remember the amount of speculating that goes on in the commodity markets now. At some point, and more likely over and over, we will see limit down days in this rally as speculators take profit. Could very easily head back up today as they buy back in for a fresh start.

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            #6
            Weeks ago, analysts that are far more technically skilled than I said to watch out for an "outside day" as a possible turning point. An outside day is a day where early trade trades higher than the previous day's high and ends lower than the previous day's low. Yesterday, we had that. Of course, technicals are not a perfect tool but they do provide some warning signs. Keep your eyes open.

            Is this a correction or is this the blow-off top? I'm not placing any more bets. I already owe CP a bottle of the good stuff.

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