FOR TUESDAY: (12/19) We always worry about people heading for the exits and conditions turning thin this week. The later in the week it gets, the more difficult it will get to keep stops in place or deal with huge orders that can move the market wildly. We tend not to trade much during the holidays and will wind down positions in a few days.
JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (12/19) Market got close to key support at 956.50 and not sure what to do because we never got decent rally. Market is really oversold and might reach 970-2 if we are lucky but it’s hard to sell an oversold condition. Key support at an Andrew’s Midline has held and much deeper and a fall to 920 could develop but we’re skeptical.
CYCLES OVERVIEW: Higher Monday/Tuesday; lower Dec. 20-22; higher Dec. 26.
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