Tuesday Evening 27 August 2013
Buy a half-position in Nov beans market, [1384.5]
Use 1340 as an initial sell stop.
Soybeans have been relatively stronger than corn, in which a
half-position is still maintained. Like corn, beans also had a
gap up opening on the current weekly chart, and the daily, as
well. these can often lead to strong upside moves, so we want
to also be in the relative strength of the grains.
The stop is wide, initially, to observe developing market activity
without using a money stop that could turn out to be wrong. In
any event, there is time to further monitor the trade.