Friday, March 7, 2008

Lock Down for Corn Too!

Corn has now locked limit down for the day, also. Soybean prices remain lock limit down. I noticed on the Tradestation Matrix that more than 40,000 contracts have accumulated at the lock limit down price. I am guessing that these are mostly longer-term traders who have waited too long to liquidate, and now, they are in a panic to get out! Some, like me, have already taken short positions two days ago, adding additional pressure for longs to liquidate!