Corn CBoT hit all stops
Corn:
Price was severely hit during Tuesday's session which teaches us again why stops are so important. We were enjoying a nice ride up that started during first half of May and price is now traded down back to exact that level. This is why one should never forget to gradually take profits from the table and to maintain disciplined stops on basis of both end-of-day and intra-day. This price lost a whopping 14% during last week and stops were hit. We will let this market now go and find some basis for one or two weeks and will look at it later again. We see no use of trying to understand a market that moves 10% or more in just a week's time.
Price was severely hit during Tuesday's session which teaches us again why stops are so important. We were enjoying a nice ride up that started during first half of May and price is now traded down back to exact that level. This is why one should never forget to gradually take profits from the table and to maintain disciplined stops on basis of both end-of-day and intra-day. This price lost a whopping 14% during last week and stops were hit. We will let this market now go and find some basis for one or two weeks and will look at it later again. We see no use of trying to understand a market that moves 10% or more in just a week's time.
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