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

To: High Grader who wrote (336)	12/11/1998 9:20:00 AM
From: MJR	Read Replies (2) \| Respond to of 645

Good Morning... Here's this morning's chart reads: March Corn: Today's S&D report was slightly bullish for corn. That with the fact that corn is oversold, per the charts, should pave the way for end of week short covering. Looking into next week, I would expect continued pressure especially if the SA weather is bearish. Stoch shows we may have bottomed, but MACD says there may be more downward movement to come. Right now I will stand aside and not open any new positions here. Jan Beans: Trend is definately down and oversold. However, aside from some late week short covering I don't think we've found bottom yet. Feb Lean Hogs: Yesterday's limit down on the Feb contract shows there is still more room for downward pressure, and the charts easily confirm this. Late week short covering possible today..this may not be a bad opportunity to initiate shorts for next week. Over supply problem isn't going away soon and I doubt things will turn bullish in the near term. There you have it for today... have a great day trading and a great weekend. Regards, Mike