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I bought May beans this morning at 600.50. The gap lower open followed by a quick rebound makes me partial, again, to the bullish ewave scenario.
Mike, I would think twice about mid-am grain contracts. Granted they
are small contracts, providing diversification for smaller accounts. The thing is though, most brokerages charge the same commission for mid-am contracts as they do the big ones... so as a cost of business, mid-am contracts are prohibitively expensive, especially if one is going to trade a lot. IMO, the only way one could factor out the high commission/contract ratio is to use midam contracts for super long term trades. In that sense, the midam grains are almost too small, and should be 1/2 contracts, not 1/5 contracts. FWIW, I have only traded the currencies and bonds on the mid-am. I considered their grains until I did the math. Talk to you later
Regards,
Frank
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