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| In my opinion..yes. Reversals, but the problem is....there is so much paper. My buddy in NYC, because he trades huge numbers is fed a constant stream of information on his Blackberry from traders & brokers wanting business --a lot of spreading--deep orders on both sides...some days orders of a size which boggle my mind...today, with all the emotion could be a classic set up....I am not trading that large & am scaling orders during the session & trying to be as flexible as possible, lightened up some today (not on wheat--)....but just plain am not sure...one of the risks here...some exporters may just have bought a little extra wheat (maybe not) & I have seen in previous bulls where some of that was sold back....this information age we are in is good in most respects...but sometimes it seems we kill a crop & then salvage it during the same trading session. I am sticking with my fundamental view. Exports are still okay....there is no question we will witness some livestock liquidation....but how much?? It will not compare to 1976, I am sure. One distinct advantage if I am wrong I can always blame it on a senior moment & if they carry me out....I will be at the car wash. The disadvantage of being young, folks think you should know better. | |
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Special Note.
