Schlegel Farms, Hagerstown Indiana | All the other posters have given good advice.
I always keep a close eye on the RSI's (relative Strength Index..I use Wilders 14 day) ...I've found it to be a good indicator of where a market might be heading overall. Basically, if its around 30 buy or hold grain... if its at 70 go short or sell grain.
Weather scares during the growing season seem to prove it wrong more than anything (all signs fail in a drought). I use fundamentals along with technicals in my marketing. When I started I had a hard time understanding how or why techs. worked....in a nut shell...they work because people think they work, they become self fulfilling prophecies.
Trading has become harder the last few years because of the Hedge Funds (both Spec and Index)...it seems that fundamentals don't work anymore, but they still do in the long run. On a side note here, a lot of the high prices we have had the last few years I feel we owe to the Funds.
Here is a cbot chart for fridays Rsi close...If you want to see a moving (active) chart go to Barchart . com and look up theirs..I use CBOT because it's handy, but you can compare price and RSI movement with Bar Chart.
http://www.cbot.com/cbot/pub/page/0,,1213+chart,00.html?symb=C&mont...
...Hope this Helps............................................Mark |
You have my full attention.
