We Are SOOOOOO Due a Pull-Back
Posted 17 February 2012 - 02:04 PM
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Posted 17 February 2012 - 02:49 PM
Posted 17 February 2012 - 05:06 PM
K the commercials are record net long wheat. If we go over 683 March we are going way up. Needs to hold 631 st.
anyone looking for a retest of the lows during the "February Break" - I think things will be good for grains this year - zoro, selecto?
I know what you mean Mark.
Posted 17 February 2012 - 05:12 PM
Posted 17 February 2012 - 05:22 PM
Posted 17 February 2012 - 05:34 PM
oil prices have to be scaring the fed...there is no way we can see much further advance,
I don't hear the media barrage concerning inflation yet. I think oil has a ways to go before it crimps the market rally. 10 year yields closed above 2. Euro is stabilizing. USD index is looking to break down right about now. We could be heading for a pullback, but there have been multiple pullbacks to the 50day SMA in the prior rallies before hitting new highs. A pullback would be welcomed by many traders who want to get long.
Posted 17 February 2012 - 07:14 PM
Posted 17 February 2012 - 09:58 PM
We're due to a pullback to the 21-day moving average.
The media has prepared people for gas to go to $4.50 to $5.00 by May. People will switch to regular and go to warehouse clubs to adjust without making lifestyle changes. I think that once regular goes over $4.00 soon, people will start to make those tradeoffs that affect other spending.
I might by that expensive truck for cheap once they start selling them because they can't afford the gas..... Not that I can afford the Gas, but I don't drive that far......
Posted 18 February 2012 - 02:54 PM
Edited by selecto, 18 February 2012 - 02:57 PM.