Issued: 11/18/2015
January soybeans:
1. In Monday’s, November 16 Williams edge live meeting it was noted that hourly or especially a daily close above $8.59/$60 in January soybeans would be the earliest indication for an advance and test/attempt to first $8.66/$67, then $8.72-$75.
2. Tuesday’s, November 17 January soybean session closed hourly (and daily) above $8.59/$60 indicating new long entry. Partial long position exit was taken at/near $8.66/$67, as noted. .
3. After today’s (Wednesday, November 18) completion of the $8.66/$67 upside target (today’s session high, $867.40) the market reversed powerfully and hit our protective stop at $8.59. This resulted in a breakeven or better on the entire position. Will message any further entry or indication in January soybeans.
David Williams
Issued: 11/17/2015
January soybeans:
1. In yesterday’s (Monday, November 16) Williams edge live meeting it was noted that hourly or especially a daily close above $8.59/$60 in January soybeans would be the earliest indication for an advance and test/attempt at first $8.66/$67, then $8.72-$75.
2. Today’s (Tuesday, November 17) January soybean session is likely to close above $8.59/$60. Therefore, any new long entry (considered aggressive at this point) should use a protective stop based upon an hourly or daily close below $8.59. Will update.
David Williams
Issued: 11/17/2015
January soybeans:
1. In yesterday’s (Monday, November 16) Williams edge live meeting it was noted that hourly or especially a daily close above $8.59/$60 in January soybeans would be the earliest indication for an advance and test/attempt at first $8.66/$67, then $8.72-$75.
2. Today’s (Tuesday, November 17) January soybean session closed hourly (and daily) above $8.59/$60 indicating new long entry (today’s daily close, $8.64). Partial long position exit should have been taken at/near $8.66/$67, as noted. If not then do so in tomorrow’s (Wednesday, November 18) session.
3. Our protective stop remains below $8.59. Will update.
David Williams