As wheat futures moved higher into the opening, on the back of a lower dollar and much higher oil and gold, I tried to anticipate strong short-covering on the CBOT: during the first half hour, I sold both MGEX and KC wheat against buying CBOT.
Then... nothing. The first half hour was the range for the day and I was left hoping for new highs on the close on the CBOT to compress the MGEX and KC premiums. On the whole, an unproductive, money-losing day. The whole trading idea for the day was too speculative. Luckily, no serious damage done.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment