09/05/2014 – Soybeans
Issued: 09/05/2014
Nov. soybeans:
1. In our Wed. Sept. 3 Williams edge live meeting it was noted that a daily close at or below $10.20 in Nov. soybeans would indicate new short entry for an initial decline to $10.05, then a later test/attempt at $9.85 (or lower).
2. Soybeans closed the Wed., Sept. 3 session at $10.20 and showed the expected weakness in the following (Thurs., Sept. 4) session which declined to a low of $10.01, completing the $10.05 downside target.
3. Those short based upon the above exited a portion of their short position at/near the initial $10.05 downside target. Further exit should be taken at/near $9.95, then at/near $9.86.
4. A protective buy stop should be placed at $10.18. This stop will be moved lower as the market continues to confirm. Will update.
David Williams
Issued: 09/05/2014
Nov. soybeans:
1. In our Wed. Sept. 3 Williams edge live meeting it was noted that a daily close at or below $10.20 in Nov. soybeans would indicate new short entry for an initial decline to $10.05, then a later test/attempt at $9.85 (or lower).
2. Nov. soybeans subsequently completed the initial $10.05 downside target (session low, $10.01). However, today’s session advanced and triggered our $10.18 protective buy stop. This resulted in a successful trade. Will message any further entry or indication in Nov. 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.