March 4, 2010
Buy Treasury Bonds…now.
Here’s the futures spread some of you are in…We are risking about $650 per spread, or somewhere around ½ point under “zero”.
Short the Soybean Complex…now.
Today’s 20 cent down move (maybe barely visible on the chart below) was not based on any particular news…but may have been Day 1 in what could become a $2-$3 move from here.
Every now and then this stuff has given me a “look” that has led me to believe, “Here it GOES!”, and every time I have been disappointed…Nevertheless, that is how I perceive this market once again…like it is finally ready to get its feet blown off, and I might as well tell you that we are pretty much “all in” here at Croker-Rhyne…There are very few defensive calls owned anymore…and all the bucks are now fully loaded on the short side…
Call me if you’re interested (and have any money left). I DO think this is monster leverage and DO think we’ll soon see $6.50 Beans and 25 cent Soybean Oil.