Friday lumber was limit up. Usually we follow through to upside with certain trading floor rules that have not been around for a while. I chirp about these ahead of time. Hey Matt Rio, let’s chat? Why not, it’s good.
I’m not talking about this too much because it is live but also due to my clients that must have a touch more info than I spew in public but Lumber has hit some important levels Friday and somehow opened lower today.
Extreme caution for those not involved in this small contract.
This is up on hurricanes and some other market dope, on the markets. Nov lumber is in the 440 area up from 300, or lower depending how far back you go.
ETHANOL- Did this market go back down and you thought it was over? Sharply higher in my book today over 1.42, supports were in the 139 handle, again. Users would be buying. Producers take a pill but don’t rush to sell this is the hole. This is different in March contract but data is a small contract. March is different than spot Nov.
Good Morning,
(opinion)
Coffee- bottomed, stop remains 122.20 let it ride, 128.05 huge. Funds very short, will blow. Last day of month, PTJ type says 130. bid buy it all? imo. possible, cheap anyway. or do funds sell into moc?
Bonds- 150.10 OLB1 gave you one chance again, next time down diff rules, right? Lately OL#1 been better than OLB#2’s except for stop placement over, I’m thinking last crude OLS#2, went 1% next bar after confirmation close over. I sent.
The thin Olive line OLB#1 was a support level where I say algo’s buy and mkt flips in reverse. It is up $1,500 -ish Monday and in between some of those event lines, conditions. Interested yet? This 3 tick stop never got hit, a 11 tick stop if more your style the same. You buy it, or take a pass.
Check the bond charts, day session chart. Whats that mean?
Gold, its a break. Silver-? Have mini crash buy #s and open orders working. You stand there willing to buy 8% breaks or whatever the trade is.
Catalonia-? Why not independence, Ireland has Apple and 1,000 other shell companies?
Corn- buy or look to long if long term. Plain cheap finished product. Can you burn it? Crude in case you missed it is going up.
grains in general sold off macro trendline resist 1st time up’s. Check SH on left. Its all macro TLs, bean oil had great ones and an olb 3232, now higher on year, Jesus, over that ols, New highs? I don’t know fundamentals.
One of these chart levels can be used forever, until broken.
Feel free to call for a short 3 min chat if you like any of this and think it might be of help.
Have a nice trading day, ARP.
Best,312.957.8248
Alan
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