Did you short corn when “Big Money” said it was time?

December 4, 2011 06:00 PM
Market Pulse: Dec 5, 2011

“Big money” started posturing for lower corn prices early September. If you were watching their movement, you would be short corn.

Last week March 2012 corn opened at 593¼ and closed the week at 595¼.

Looking at the daily chart you can see that the trend remains strong with ADX at 42, but has dropped from 50 this past week. MACD this past week has dropped divergence showing a drop in momentum to the current price action, and Stochastics are oversold. Trends in Futures recommended a short on Nov. 17, and currently is managing $1,400 in open trade equity.

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