Friday, May 2, 2008

Erratic Trading and Poor Liquidity Today

Thus far today, trading in the grains markets has been poor. The chart patterns are erratic and unreliable, and liquidity has dried up. Spreads are too wide. I am always vigilant of the grains charts, because they can change at any time, but today, I am currently trading treasuries and the S&P 500 futures. No strong news appears to be driving the markets one direction or another. Monday, another crop report will probably have great impact on trading.