May 2, 2023

More Bearish than ever…

I’d guess that I have perused well over a million charts during my 4 decades doing this…And while this does not turn me into some sort of market guru, it does lend itself to an understanding of how various chart setups can, and often DO, repeatedly result in the very same dynamic outcomes.

And when I look at the Soybean chart below, while I might be dead wrong, I DO THINK IT EASILY HAS UNDER $12.00, MINIMALLY, WRITTEN ALL OVER IT…AND I MEAN THIS…IN A HURRY…TO THE EXTENT THAT IT WOULD NOT SURPRISE ME, AT ALL, TO SEE JULY UNDER $13.00 WITHIN THE NEXT FEW WEEKS.

So yeah, this is only this old hack’s very strong opinion, but in addition to my “normal” (sensible) positions, I am also buying out-of-the-money puts that do assume something like a $1.50 downside move during the next month or so.

Here are several options that have a LOT of leverage…Obviously, if I am wrong, or not right enough, they can become totally worthless…but still, I think the potential reward here is absolutely worth the risk.

And make no mistake, $11.50 Soybeans are still NOT “cheap” for this market…or anything even close to it.

Call me if you’re interested…

Thanks,

Bill

770-425-7241

866-578-1001

All option prices in this newsletter include all fees and commissions. All charts, unless otherwise noted, are by Aspen Graphics and CRB.

The author of this piece currently trades for his own account and has a financial interest in the following derivative products mentioned within: Soybeans