View: Wheat - Daily - 8.31.16.png
Wheat - Daily - 8.31.16.png
Wheat - daily chart. This is not investment advice.
if it can catch a bid, shorts could get set on fire.
Anecdotal comment from the heartland regarding wheat. Grain elevators are piling it up on the ground around Enid and Medford because there is so much of it. Bumper crops all up and down the great plains and into Canada. Having said that, took a small long position yesterday and am watching.
Interesting fundamental info from on the ground. Thanks slipstream!
And look, don't get me wrong, I know very well that I could be wrong and it definitely is dangerous trying to call a bottom in a mega downtrend. If I'm wrong, so be it, I'm not going to harp on it. I'm wrong a lot, but if my analysis tells me to expect a bottom, I am going to expect a bottom.
The main problem with commodities is that they can trend for years and decades
Why do you see bottom in this chart?
I posted this chart the day of the bottom. Where is that genius "ConvictScott" who called me an idiot for buying wheat at $395?
50% gain. Not bad.