08/08/2017 – Soybeans
November soybeans:
1. In yesterday’s (Monday, August 7) Williams edge live meeting it was noted that $9.72/$73 was selling territory for further decline to indicated targets.
2. Subsequently, November soybeans made a session high of $972.60 (against the critical $9.72/$73) and then quickly reversed lower to $9.67. However, today’s November soybean market opened higher and traded through the $9.73 level, stopping out any remaining short position. This resulted in an approximate breakeven or small loss on the entire position. It also makes the next 2 trading days critical in November soybeans which may prompt new entry. Will update.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.