CZ hits bottom of Channel at 4.75

  • Posted on: July 25, 2013

Cover another 1/3 of corn short position here. As I write this we are at 4.79.  4.75 was the bottom of the channel.

 
 
Cover 1/3 here.  We may be done for a while. We might even have a rally back up to 5.25. It depends on how we settle tomorrow, Friday 7/26/13
 
 
The Sep/Dec spread came in another 8 cents:  trading at 20 1/2. 

Take Profits on 1/3 of remaining position. Ride the rest. This might have another 20 cents left, if the stars line up perfectly. 

Finally,  The CZ 15,500 line (the blue line)   holds. Sit tight with the short positions.