04/23/2014 – Soybeans
Issued: 04/21/2014
July soybeans:
1. Friday’s (April 17) July soybean session closed the day at $15.02, well below the $15.21 short position confirming level noted in the previous update.
2. Partial short position exits were taken today at/near $14.96, as noted in the previous update (today’s session low, $14.88, so far).
3. Final short position exit should be taken at/near $14.75, as noted in the previous update. Aggressive can continue to hold a small remaining position for the possibility of lower prices, including a test/attempt at $14.60.
4. Protective buy stop should be lowered to $15.14. This stop will continue to be moved lower as the market continues to confirm.
David Williams
Issued: 04/21/2014
July soybeans:
1. Today’s July soybeans continued on the forecast decline from $15.21 noted in previous updates and completed the $14.75 final downside profit target (today’s session low, $14.75, so far). This completes the trade.
2. Aggressive can continue to hold any remaining short position for the possibility of lower prices, including a test/attempt at $14.60.
3. If holding for the possibility of lower prices, protective buy stop should be lowered to $14.97.
David Williams
Issued: 04/17/2014
May soybeans:
1. Today, April 17 is the next important daily market top in May (and July) soybeans. A tradable multi-day decline is expected.
2. Continued daily closes below $15.21 indicate new short entry and a tradable multi-day decline and possible test/attempt at $14.75/$73 on the downside. Initial short position exits should be taken at/near $14.96/$95.
3. Initial protective buy stop should be placed above today’s high (approx. $14.32). This stop will be moved lower as the market continues to confirm.
David Williams
Issued: 04/23/2014
July soybeans:
1. Today’s July soybeans continued on the forecast decline from $15.21 to $14.60 noted in our recent April 21 post (today’s session low, $14.60). This completes the trade.
2. Our subsequent April 22 post indicates today, Wed. April 23 (+1 day) as the next important daily bottom in July soybeans upon a test and daily close above $14.63. Keep this in mind.
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.