A few people have emailed me about this trade idea (hey, I'll trade anything if it looks good!). Apparently many of you do indeed trade commodities. CORN is rocking for us and looks good to go down even further. As I stated a couple times here recently, a break below 584 was key and I think if it can hold below that or close to that it should see 550 soon enough.
In the meantime, if I'm not mistaken Corn was around 605 when I called it short. It's now up over .20 which is a very nice move. I suggest taking some profits and going from there. Still think 550 and then if we get real nice move down maybe even a retest of 500,but thats a long way off.
Trade 'em, don't own 'em!
CRACK THAT CORN, BABY!
P.S. I do think oil is peaking here near term, but shorting that thing is so dang tough, its a beast. I just think that at some pt it has to retest $100. But, I'm the guy who called it long to $100 and then $150 when it was $32 and then $70s! So, what do I know! Hehe!