07/24/2015 – Soybeans
Issued: 07/23/2015
November soybeans:
1. Today’s breakdown below $9.91 in November soybeans is an important early indication for substantially lower prices, including a test/attempt at $9.72, then $9.68, or lower into Monday, July 27 (+/-1 day).
2. Aggressive can short the market at $9.84. Partial short position exit should be taken at/near $9.78, and the remainder held for further exit at/near $9.72 and $9.68.
3. Once short, a daily close above $9.92 will act as the protective stop, for now. Will update as the market continues to confirm.
David Williams
Issued: 07/23/2015
November soybeans:
1. We noted in today’s (Thursday, July 23) earlier report that today’s breakdown below $9.91 in November soybeans was an important indication for substantially lower prices, including a test/attempt at $9.72, then $9.68, or lower into Monday, July 27 (+/-1 day).
2. Aggressive were instructed to short the market at $9.84. Partial short position exit were to be taken at/near $9.78, and the remainder held for further exit at/near $9.72 and $9.68.
3. Today’s November soybean market declined to the $9.78/$77 initial downside profit target.
4. Our protective buy stop has been lowered to $9.87. Will update.
David Williams
Issued: 07/24/2015
November soybeans:
1. We noted in today’s (Thursday, July 23) earlier report that the breakdown below $9.91 in November soybeans was an important indication for substantially lower prices, including a test/attempt at $9.72, then $9.68, or lower into Monday, July 27 (+/-1 day).
2. Aggressive were instructed on Thursday, July 23 to short November soybeans at $9.84. Partial short position exit were to be taken at/near $9.78, and the remainder held for further exit at/near $9.72 and $9.68. The $9.78/$77 initial profit target occurred in Thursdays July 23 later session.
3. Today’s (Friday, July 24) November soybean market declined further and completed the $9.72 final downside profit target (session low, $9.72.4, so far).
4. Any remaining short position can be held for the possibility of lower prices including $9.68 (noted in original update) or lower.
5. If holding for lower prices, our protective buy stop should be lowered to $9.81. Will update.
David Williams
Issued: 07/24/2015
November soybeans:
1. Today’s November soybean market completed the forecast decline from $9.84 to $9.68, resulting in a successful trade. Will message any further entry or indication in November soybeans.
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.