The Bull camp once again took it on the chin.
If you have been short CZ w/ me since last Friday, cover another 1/3 of your shorts here.
USDA lowered the carryout slightly. There will continue to be bullish camp saying gov is wrong.
For now, I’m keeping it simple and resepecting that 3 year old trend line on the weekly chart in CZ13.
We did get stopped out on the original idea. However, I put it back on last Friday.
Maintain the shorts. Lower your stops. Let it breathe.
1.9 Billion bushel carryout. No major change
Our share of exports has dropped. Exports have been lousy. If China slows down, we will need some weather issue to support the bulls.
More on Dow and Gold later.