Friday, January 18, 2008

Soybeans #6 broke even.


After breaking even on this one (trade commissions covered), I am sitting out now until the markets start to move. This trade was an error, since the Bollinger Squeeze indicators (not shown, but appears in the panel beneath these two) had turned red, indicating that volatility had fallen below a level acceptable to initiate a new position in any direction. It looks like prices will break lower, since the soybean bulls are unable to sustain any price strength today.