It sure did look like corn was about to break down on 11 -16 but it didn't. It began trending back up from 11-16 thru 11-28. The 11-29 and 11-30 price bars have rolled over. So the breakdown sellers were dissapointed on 11-17 and now its the resistance sellers turn at bat. The gamble is of course ...is this a "turn" in a cycling market..or a "pullback" in a short term up trend. Since the chart has been cycling lately, a "turn" seems like a reasonable assumption. A stop loss above the 11-28 high would be a nice small risk for us nervous types, though a 700 dollar loss might take a beginner account out of the game. Anyway thats just what I'm thinking. I don't like to position trade but this looks tempting. If the market opens Sunday night and drifts UP overnight and is up about 4 cents at 4 or 5 am...then that would be my preferred entry. If it opens and drifts down 4 cents by 5 am, then I'd probably still go for it.
Ok ? thats what I'm thinkin....the forum sure seems slow lately so I thought I'd throw that out there. For all my fans and followers....I know you've been waiting. Nyuk Nyuk Nyuk