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Strategies & Market Trends : Grain Futures Trading

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To: nicewatch who wrote (444)	2/23/1999 8:30:00 AM
From: MJR	Read Replies (1) of 645

Frank: I agree in your bean read this morning. I'll be looking to exit my bean short this a.m. for a profit. I think that more downside pressure is coming to beans, but there will be some covering for a few days to make for another nice short entry point. Live cattle seems to be starting a bearish trend. It gapped down pretty good yesterday (looking at the June contract. If we get a bit of a rally at the open I'll be looking at opening a short in that market. Perhaps at the 6500 mark may make some sense, although we may actually fill the gap back to 6530?. Good luck in your long bean trade. Mike

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