Nov Soybeans long

[PeterTT]

I have read nothing about the fundamentals re Soybeans, but the price action looks very toppy .. cannot find a chart to show the long term weekly chart for the front contract going back to early 1990s (I can see it on my Bloomberg at work), but this is a pretty high level for Soybeans by any measure. I would be very worried entering a long position as would not have a clue where to stoploss it due to last 2 months explosive upmove.

Peter

 

[Andreas]

I agree with you Peter. Longs do not look very tempting right now. I have been backspreading beans, buying May04 and selling Jan04. Went fine so far.

 

[cj12]

looks like to me in braking down and the moving avr don't mean it will bounce back up we dew for a nice short, and the adx don't mean much saying its above 30, the chart will tell you its trending you don't need the adx to tell you that,

ps most of the stuff in street smart dont work
sorry to be negative sell sell sell

CJ

 

[josbarr]

Corn New! CH4 Bearish 245
KC Wheat KWH4 Neutral
Minnesota Wheat MWH4 Neutral
Wheat New! WH4 Bearish 388
Rought Rice RRU3 Neutral
Soybeans New! SH4 Bearish 760
Soybean Meal SMZ3 Neutral
Soybean Oil BOK4 Neutral




Options:
Market Contract Outlook Mg Stop Rollover Links
Grains-Sell March Corn 260 Calls Bearish 2.55
Grains-Sell March Bean 820 Calls/Sell March Bean 840 Calls Bearish 784
Grains-Sell March Corn 250 Calls New! Bearish 33

 

[bgold]

josbarr, please clarify the above post? What message/reco or view do youy want to share with other members? Fe the "Soybeans New! SH4 Bearish 760" was/is below market price at time of your post?
Many thanks

 

[josbarr]

Wheat New! WH4 Bearish 388

Soybeans New! SH4 Bearish 760

The new trades. 760 and 388 are Buy Stops.

 

[PeterTT]

On Friday I bought back my short positions in Soyabean for tiny profit .. Just looking at the shape of the chart and thinking of the action in Cottonon Wednesday I feel there is a fair chance of going back to the top of the recent range.
I am not going long but just thought I would lock in the tiny profit I had.


Peter

 

[bgold]

Wheat New! WH4 Bearish 388
Soybeans New! SH4 Bearish 760
The new trades. 760 and 388 are Buy Stops.

Sorry to go on about this query but when you say fe SH Bearish 760, why does that imply a Buy stop at 760. I would argue that when putting in a Buy stop one is bullish.

Actually, I would agree on the Soybean direction provided it does follow through on last weeks' price action.

 

[josbarr]

Stop out 760