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Pre- USDA comment, Corn Wheat


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Corn- If users of corn, crushers, grinders are looking to lock in low corn prices I have a few levels into USDA. This has happened before into reports and I can explain how sometimes this seems to be the least risky time to play. In front of numbers. Funds selling wheat aggressively. I would not advise short hedging on this falling knife price action if playing long term, say 6 months or longer.

Long term Macro speaking I like buying inflationary themes and here into a well-advertised bumper crops. It always appears counter trend but an explanation here is needed also.

Best of luck and always use a tight risk stop. Were either right and catch turn or stopped out with small loss. See right column of corn chart for levels. I really like $3.33 1st time down.

Oats also have broken out in day 1 of the next bull market in my opinion.

Corn pre USDA101217- DEC CORN- ORANGE, THIN OLIVE AND THICK OLIVE LINE are buy levels 1st time down.

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Alan R. Palmer

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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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