WAS THIS TOP? Take the money and wait for next extreme? In Cotton next
Alan R. Palmer of Walsh Trading - InsideFutures.com - Thu May 24, 3:56PM CDT

WAS THIS TOP? Take the money and wait for next extreme? In Cotton next.

MEATS- All different months have different looks, month settlement px.s etc. If your looking in a back month ask for levels.

FEEDERS- we are now up almost 700 off the OLB, number that hurts most traders, the olive line.

KC- your on your own now as this is 50% either way up here. I would sell longs and wait for the breakout but we are getting closer to your shortage. This is when to look to weasel into some back month spreads as those will be the big movers with less risk now. Buy KC sell anthing was my saying flippant but truthful in opinion for the big trade.

LCG- FEB19 today high is TL off recent top and MSP S Px. 11270-45 has 3 levels and yest low if looking higher lows if your looking for buy #s. Small OLB were 110.33 which it hit, 109.99 so we pick one trade when close. This did not make new low. Is this the value? I dont know.

APRIL 19 LCJ- This took out old 2017 low by .25c and last weeks low held which is different from some front months. To me it is strength if looking in back months. 114.37 is yearly., It is 4th day of higher lows which is how funds calc risk.

FCQ- Now up from small but decent OLB 136.85 OLB2 now confined late today between two half ways, reds of something, 142.66 and 142.10. 139.95 is a neckline if looking to but Auggy FC. 139.65 ish also support that has played if looking into report Fri of this 3day weekend.

This is a decent rally if you may prefer to trade the report with less, on. Thats how the flat o/n algos play and they come in fresh and can press either way on open because they come in flat. There are a lot of trades in everything now. Spreads to naked futures.

CORN- OLIVE ALERTS LIVE, 429 todays high, round up, o/n high bit over like we see all the time. I think we buy a 20c Corn break, OK bulls, 15c but dont tell me Corn cant break as all my Pro sheep traders are bullish going into Summer. Ask about my drought thoughts but that isnt for 30 days and we have broken and rallied 12, 14% nine day runs.

Sell beans on rallies but SXKWZ is -$1.38 lst, -1.58 OLB tiny hit Fri and rallied 50c. If you want to play this if you think like I do that Beans can go $7.00 UNDER, then you need to talk to me.

This is what we want to trade is extremes that have a story.

LCJ- what I find interesting is April just got higher on the year. The Wall of Cattle? 112.90 is 3.31 qtrly

s px. With 116.30 being this contracts high less than 200 away. Higher lows daily and today in 4?min so far anyway shows algo buying this.

IS THIS A TURN IN EVERYTHING MACRO? Big picture not trading.

Dollar top, Bond bottom was olb 140-08 or 04 1 tick miss. Metals bottom, crude top so far was T#2 72.93 a miss by 5. Stocks maybe top? Sell in May? Summer doldrums? So much is happening. Hogs LHZ 57.40 OLB, still standing to me if this is major.

WALL OF CATTLE, A BOGEYMAN? I dont know much about cash but this event seems to be so much hype to hoodwink longs. We are in 5th day off OLB 137 or 700 higher fast, my characteristic of olive extremes. Lumber? Stop, wait for my major targets is all I have and nothing is guaranteed.

Sugar bottom at 11c? Cotton is fast approaching some hedge levels for sure in my opinion. If I was long I would have to know these levels. Platinum- 881 again? Double bottom when I 1st gave it a shout few months back.

Inflation run into Summer? Probably but with major bump breaks. I am thinking corn but more soybeans but beans are the trophy spec play.

Cotton- are we racing higher in vertical up fast movement to my OLS? Lets have these levels woking early. Not when you get a feel out where they have you Ranchers Geo-Fenced. I do not read the screen (Mute the AG News) when I get in the new elevators. One time the screen said subliminally;

Hey Alan you should get out of your cash KC wheat now? This is a real threat to sheep out there. Traders think HFT has their trading ID and stop them out. These are Pro Traders!

Tech is a tech tax with no middlemen left. This will filter to rural America farming operations as the Amazons cannibalize every middleman until it snaps. Just like markets.

If you need a level or some market-color, feel free to call me.

-- 
Specializing in providing timely technical advice to the AG business community. Contact me for a free outlook in your specific product.
ARP@WalshTrading.com
312.957.8248
 
 
Alan R. Palmer
 
Sr. Strategist
Direct: 1 312 957 8248
 
WALSH TRADING INC.
53 West Jackson Boulevard, Suite 750
Chicago, Illinois 60604
Link to Start
https://portal.straitsfinancial.com/user/register.aspx?brokerid=268
 
www.walshtrading.com
 
Join My Mailing List
 
Walsh Trading, Inc. is registered as an Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (WTI) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.