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November 28, 2023 The Dog of the Commodity Markets I have been seeing Wheat as a potential buy for several months now but had been waiting to see some sort of “new lows washout,” as well as listening for that moment when it seemed like virtually the entire ag analysts crowd had declared, “NO bottom in sight! Sell any rally!” And I think both of those conditions have just been met. Right here, right now, according to conventional wisdom, “The fundamentals have become unquestionably bearish” and “The charts are signaling lower prices.” I DISAGREE. I SEE THIS AS A BUYING OPPORTUNITY AT A CLASSIC COMMODITY MARKET BOTTOM. AS NOTED BELOW, I THINK A FAIRLY RAPID $2.00 RALLY WOULD BE EASY FROM HERE.
Lots of ways to do this, with more leverage, or less…with more time, or less…or with futures. Call me if you like the idea. 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: Wheat |
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