Beans Bouncing?

April 18, 2001
Dave Landry

Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.

July cotton
(
CTN1 |
Quote |
Chart |
News |
PowerRating) spiked to two-week plus highs but reversed to close
poorly. This action suggests its longer-term downtrend remains intact. Look for
a shorting opportunity here.

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For you bottom fishers, July beans
(
SN1 |
Quote |
Chart |
News |
PowerRating) reversed after approaching
life-of-contract lows on Wednesday. Begin watching for a buying opportunity
here.