Tweets copied from "commodity kid" Twitter:
11 July - Order placed to buy premium on dec corn at 529.
16 July - Still no change in out look for corn prices in the next month as I'm still looking for 5.95-6.00 for my 1st trgt. Resting stop to buy @ 5.29
22 July - Dec corn set up for higher prices still in play
23 July - Premium bought dec corn 491 # adding to positions. Resting Orders placed @ 485 to buy if we get there
25 July - Dec corn is on the bottom part of support and I have not changed my call for a push back close to 6.00 #adding to positions
30 July - Bought premium dec corn @ 477. #adding to positions
Let's see. Buys at 529, 491, 485 and 477, average = 495.5
Today, Friday's corn close is 463.25 = 32.25 drawdown from average buy = $ 1,612.50
At only 1 contract per each buy, total 4 times $ 1,612.50 = $ 6,450 drawdown on corn
but not to worry, " despite running thru the lowest part of my support at 4.70 does not invalidate the current count that the 5th wave of this decline should be finishing up"
That is so very reassuring. Thank you.
I got another Elliott Wave technician saying that corn going down another dollar to $ 3.80, might that invalidate your "count"?