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Strategies & Market Trends : Grain Futures Trading -- Ignore unavailable to you. Want to Upgrade?

To: MJR who wrote (242)	11/24/1998 4:42:00 PM
From: MJR	Read Replies (1) \| Respond to of 645

Comments on March CBOT Corn (CH9): Not much driving the market in either direction today as we traded in a flat and narrow range with the following numbers: H: 228 3/4 L: 227 1/2 Sett: 227 3/4 Although light, weakness did again seem to prevail. Looking at the charts, a break through 226 1/4 would be bearish leading to a drop to the next support level of 218 or so. An analyst from Linnco Futures wrote that the market is ready to break down and retest lower prices once again. I'm still in my small CH9 short position - in at 229 1/2 - for a small profit. My trading philosophy is to risk little dollars in a sideways moving market as they have a tendency to break one way or another in a moments notice - kind of like a tightly wound rubber band... eventually it will break, but who knows where it will fly??? Have a great evening, Mike