12,742 was the low tick in March Dow

I hope you covered.   An important safety tip, when there is a level in the Dow, I tend not try to get the exact tic.  Instead I will be in a 30 tick window around that target.  15 higher or 15 lower.
I cautioned on Friday to have buy stops, in case this stuff popped by150 points.  Low an behold we are back up at 12,862, about 100 points higher off those lows.

The 6 years I spent standing in the Dow  pit when open outcry was still viable, taught me how nasty the moves could be in your face if you were complacent.  Back in […]

Check that, Dow Futures Drop 226 OUCH

I just turned off the screen and made a few calls.  In the last 2 minutes of trade in the march futures, it took a 50 pt haircut. We had been down 180.  Finished down 226 down to 12,777, with a low at 12,766.  I have 12,740 as my next support.  We could see 12,799 or maybe even 12,500 if they whack this thing Sunday night.   Stay short my friends.  But make sure you have a buy stop above. And make sure its a buy stop.  Not a stupid  buy stop limit.   Using limits on your stops is counter productive.   When you need to get […]

Dow drops 180 pts on the last Friday of 2012

I wrote this AM and had 12,851 as support, followed by 12,740.  Today’s low so far has been 12,843.
Hopefully you covered some shorts here.  I forgot completely I had that as a buy level.  I was busy all day focusing on the small bounce in the wheat and the corn, which I think are oversold, yet still vulnerable to another flush.  I remain short a small position, but I have taken profits at this 12,850 level.

I have also been watching the rally in cattle over the last 10 days. We seem to have come too far too soon, and have left some room […]

How Far Could the Dow Futures Drop?

March Dow Futures have good support at 12,851 and the 12,740. If they cut it loose, there is support down at the 12,400 level,  at 12,382, which was low of the November puke fest after the US elections which saw a 724 point drop in 9 trading days, starting on the 7th and bottoming out on the 16th. 
Subsequently, March futures rallied 936 points from 12,382 up to 12,219 on the 19th.  Technically, it looks like a nice “v bottom ” on the daily charts.   That being said, what it looks like is we may just trade through this 1,000 pt mess for a […]

Dow Breaks Below 13,000 on the cliff

13,300 proved to be the head fake point for Dow Futures.  If you’ve been reading, you know that I had ALL my short futures blown out with that settlement above the 13,300 level. .  Since then we have been mired in this narrow 300 pt trading range.  Today’s low in the March Dow,  at 12,894, took out 12,900 by 6 ticks.  Bottom line, markets not digging the news coming out of  Washington. March S&P holding a small gain, though so its really not too smart to get too excited one way or another. 
If you are smart, you don’t have any major stuff on now […]

New Crop 2013 Dec Corn settles below $6.00

New Crop 2013 Dec Corn settled below $6.00 today.  This is the lowest settlement in 4 months.and opens the door for a test lower down to a test of $5.88 and then $5.70   Why 5.88?  Tis the 1/2 way point from the big summer drought rally.    The settlement below the round number at $6.00 will attract fresh selling, in my opinion.

To refresh.  The low on Jun 15th was $5.11.  We then rallied all the way up to a high in Sept 9th at 6.64.
Be patient.  A dip to 5.75 should be the area you want to cover shorts and/or initiate long speculative positions, […]

Merry Christmas 2012

Looking forward wishing all a Merry Christmas and a Happy 2012. I hope you can all profit from reading this letter and I mean it with all due respect.  If you like what you have read and would like to become a client,  please contact me at christianrobinon1@gmail.com  
I will be back with a comment on the 26th or the 27th if I see something worth talking about.

CER

A Mayan Christmas

Written by Chris Robinson

Corn: March corn settled up 5 ½ cents at $7.02 while new crop corn CZ settled up 3 cents at $6.06 ¾. For the week, CH lost 28 ¾ cents, while CZ lost 21¼ cents. A quiet end to the week after the fireworks we had earlier as CH only had an 8 cent sideways chop with most of the activity occurring between 7AM and 9AM before the pit trade was even open. January options expiration proved to be a non-event for the most part. […]

Dow Down 200– take profits on short positions

The Dow broke another 100 pts since my first entry this morning.   Take profits on at least 1/3 of the position.  If you only have one or two on,  move your buy stop down against yesterday’s high and sit tight.
Sunday night we could be either 200 pts lower or back to unchanged.  Its a definite flip of the coin.  If you have a winner, do not let it turn into a loser.
CER

Dow Flash Crash overnight-take profits on sales

Europeans did not like failure of the Republican plan B to end the fiscal cliff.  March has been top step for a bit, so I am switching from Dec to March.  Yesterday’s high was 13,270. Yesterday I wrote that I wanted to be a seller of rallies, with a safety parachute in the form of tight buy stops.
Assuming you had a short position,  you should have awoken to a nice profit in your account. Overnight we broke, 300 points from high to low.   the low tick was 12,963 so we took out the 13,000 mark by 37 ticks.  Currently we are at 13,140,  about 180 […]