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Corn 8%, Buy Drought Break?


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Good Afternoon Traders,

From feeders to beans but now on this fast 8% break do you buy corn? I have a few levels I'd like to share;

$381 3/4, and $379.3/4. If you’re a user of corn, speculator or just want an inflationary theme in your portfolio I think this is a good a spot to buy and while this indicator that picks up on extremes I also have an unheard of three other levels all tucked inside these two buy levels. Remember the $9.07 July Bean buy last month that fell under my “despised trade rule?”

The way psychology works is this, people usually are so bearish they do not want to hear about buying corn. Is that the case today? I feel if my 1983 style drought is still a real deal then it starts in days as a student of the weather, and trading.

Extremes are everywhere; look at hertz up 100% since USDA, HTZ but not my division, just chart patterns that appear in everything that plays havoc with the human mind. Yes like your addictive phone. Most of it is fake but how can you resist 1,100 scientist's designing an "engagement' feature? It’s the scrolling that hooks you.

Let's see with this corn as the commodity funds seem to be getting annihilated are now selling timed orders. Use this to your advantage and turn off the TV all together. Forget the dot plots also as this is designed to engage your mind in ways you would never think of. I saw an app offering you to test your IQ for free. No thanks, these are brain drops, from yours to theirs.



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About the author


Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group.

Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen.

He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques.

Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago.

Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com

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