Boogster’s Blog

Corn. Nuff said.

Crazy wild day today. My first mistake was not putting a stop loss on that second YM contract from last night. Instead, I let it run all the way up to 13615! My second mistake was notgiving my short from 13605 room to run. I made about $250 from the short scalp, but it could’ve [...]

You can read about the grains acreage report here: Report “Corn planted area for all purposes is estimated at 92.9 million acres in 2007, up 19 percent from 2006 and 14 percent higher than 2005. Farmers increased corn plantings 3 percent from their March intentions, resulting in the highest planted area since 1944 when 95.5 [...]

Looks like Freddy Deeb won the $50k buy-in HORSE tournament. $2.27 million is the highest payout for first place out of all of the WSOP tournaments besides the main event. Pretty sick that he won because he was low on chips with only 6 players left. Cardplayer article The poker bug has left me for [...]

31.8% retracement. I probably should’ve sold my september corn and kept this one. Still holding two contracts. I doubt that we’ll close below the 61.8% retracement…338 for December corn and 337 for September corn.

My cost basis is at 348 1/2 now on one contract and 370 1/2 on the other.

Trader Jim told me that December corn has more volume…

F corn. The move was quick…

I just exited my last YM short contract here. Corn is putting a hurt to me. 337 on September corn is the 61.8% retracement on the daily chart, so let’s see if that holds today. I think it will.

Still holding one contract at an average cost of 13576. If we can get down to 13561, I will probably dump this last contract. 13561 is the 38.2% retracement level.

I covered 1 contract for +15 ticks. The loss is the averaged up cost with my first contract entry at 13520. The way that it looks right now, we’re definitely headed lower. I’m just gonna use the retracement levels as my targets…

Stop is at 20 ticks. First target is at 20 ticks. Then we’ll go from there.

The good news is that I woke up at 6:30am this morning to check my YM long position and I was able to cover one contract at 13472 for +$236.14. The bad news is that I’m still holding the other contract. I went back to sleep after I covered half of my position and woke [...]

I didn’t do too much of anything today mainly due to the FOMC announcement. I sold one of my corn contracts last night for -$357 or something like that….averaged down and then I made one scalp this morning for +$100 or so. That’s about it. I just shorted 2 contracts of the YM at 13520 [...]