07/22/2015 – Soybeans
Issued: 07/23/2015
November soybeans:
1. The recent downside completion of $9.93/$91 in November soybeans placed the market into a ‘Buy’ position for a multi-day advance, noted in our previous update.
2. However, our protective sell stop at $9.87 was hit in today’s session, resulting in a loss on the entire position. This is unusual market behavior. Any significant break of or daily close below $9.86 will likely prompt new short entry for a test/attempt at $9.73, or lower. Will update as the market continues to confirm.
David Williams
Issued: 07/21/2015
November soybeans:
1. Our recent forecast for November soybeans included a continuation decline from $10.05 down to $9.93/$91 expected into Monday, July 20 (+/-1 day). The market completed this forecast on Monday, July 20 with the swing low at $9.90.
2. This downside completion places soybeans in a ‘Buy’ position for a multi-day advance. Partial long position exits should be taken at or near $10.14. The remaining long position should be held for higher prices to be messaged in a subsequent update.
3. A protective sell stop should be placed at $9.87. The stop will be moved higher as the market continues to confirm.
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.