11/17/2015 – Soybeans
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
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.