They may be stocking up on all meats and grains.
US Corn and bean crops are disasters, 50% reduction one guy. 180bu min corn yield last 20 years, 2020 95bu. per acre. What if pandemic was effective to buy grains on cheap upon US Sheep closing economy. Polar opposite of 1918 Spanish Flu brought to US by similar methods as we speculate today. Economy remained open.
If my OLS2 1028 violates and I say it has, baring a break today but Monday is two week timeframe we have seen olives play 2bars except weekly. It’s slow motion but the olive extreme, human emotion blows everyone out. Target would be $12.86- $13.08 off memory. I would not rule out now this week where we get squeezes in beans, cotton, beanoil or meal but don’t have reasons other than complacency with commodity users.
Hot dry came in August. Brazil over commitments to China already provide possible fuel to the fire. Funds loaded long but I have been saying months funds catch long beans. I thought they be short corn so spread. Now they are long and there are hundreds of funds looking for inflation exposure as every day passes. Making a point. Error on not being short right here right now as we go higher. This train is moving. Ranges will get much bigger.
SWIFT DIRECTIONAL MOVES- As we have seen there is endless supply of call buyers pyramiding. TSLA good example, next $500 stike up buy 10,000 calls and then they get there! Point is DO NOT SHORT without risk stops. You don’t want to get blown out fading biggest bull markets ever?
Beans- so 5pm open we open at the olive 10.28. Then up to 1044, way too much heat for me. Beans had a huge volu Thursday. So we did sell off which we see but on this AM open we traded down to 1028 ½. If we close Friday under this might be top for bit. It’s all I have on these. Friday Monday OLS TOP is like HOG OLIVE SELL last week Friday? It can be like same pattern shakes people in slow motion. That’s my story of this critter.
GOLD – 1950.70 red w 47.90 FSP by lows so it is higher on week. To me having something 16c to the bad is bad. Anyway my honest opinion in a half asleep, was to get out of short beans. It may be early but that’s me. But the lesson if you will is now we are clawing back higher. Buy a 50c break is my opinion.
BOZ – was 60 ticks over OLS. These are decent but not anything real big. $13.00 beans would be target as we stay over OLS 1028.
CORN – higher lows 90min bar, 375 has four #’s 383 ½ above has two #s. 2nd bar starts now, beans will be dogfight. Todays close is important as per 1028.
It feels like everyone is looking around like in the pit of yesterday. You short? You short, point is they may all be short. I can be a fade and I do flip in my heart at tops.
FEEDERS – hit and a gap by lows, Fri low are the two greens. Pivots and this color, no opinion.
RICE – missed the 1203 mentioned weeks back, 1206 low, 1250 high, 1287 OLS2, OLS1 hit before 12666.
Don’t get taken out of the game at the exact time big trade opportunities happen. Trust me there. You need to be funded. Break hard, expect unexpected. What is an olive worth? To the right guy it’s worth a million. Email Chart Priority available – I welcome anyone that wants to learn, even if not trading silly. That’s even better isn’t it? https://bit.ly/3iE4Tf8
Alan Palmer, NASDOG.com
COFFEE-wave2-113.25
GRAINS-9.18-10AM
STOCKS-9.18Fri-NL-EP
CTZ-Fri-Hurr-day3
STOCKS-EPZ-9.18-D-good#s
