(Originally Posted Thursday March 4, 2004) Busy little beaver the last couple of days. Closed the beans only to short them again along with corn. They’re just too strong so even after a downer day I covered both. I think I could have held overnight but I was anticipating a rally into the close and we got it. So my 9.5 points in the beans more than made up for the 3/4 point loss in the corn.
I was uncomfortable right after adding the corn. It’s just been lock step with the beans and when they wouldn’t break hard, it was time to go. Timed it perfectly at roughly 11:05 just ahead of a 10 minute rally into the close.
Caught a nice move down in Cocoa over three days. Covered today at support found at 1475. It actually sank to 65 soon after but bounced like a scalded cat so I’m not displeased. 65 was my goal but we can’t be too choosey can we. Watched May coffee all morning and got into the rally a little late at 73.90. I should have been quicker but I had my head falling asleep in the bean patch. Nice close in the KC so we’ll see what the morning brings. I’m thinking we’re going to try and close that gap just above. If it won’t hold up there I won’t hold it over the weekend.