Tuesday, March 23, 2004
The overnight session is running the Bonds up at 116 even and the Beans are up 8 and a half. Just proves a bull market knows no resistance and a bear market knows no support. Wheat is shaping up again and we should be able to see some intra-day technicals show up. I've decided after seeing my coffee equity drop the last two days that I'll have to leave tomorrow if this support fails. I don't want the slide in equity to turn into a real loss. There's a good chance it'll dive. I like the way the chart is set up but if no buying materializes it could get ugly. I left a lot of money on the table but I don't want to tolerate digging into my actual pocket to support the position. That could get messy in a hurry.