Commodity Update For Wednesday, September 19, 2007- Still Watching Gold For An Entry.

I'm still watching December Gold as a possible trade. I was interested in buying December Gold if prices could close over the major resistance of $730. Even though gold shot up briefly yesterday after the Federal Open Market Committee meeting which lowered interest rates, December Gold still has not closed over the $730 level. In fact, December Gold is showing some weakness as it closed near its lows for the day. So, for now, I will keep watching for that close over $730.

I'm also still watching December Soybean Oil. December Bean Oil has been pulling back a bit over the past couple of days from its high of 40.4o on September 18. I'm looking for an entry if December Bean Oil consolidates around the 39.20 level.

To take a look at all of my recent trades, please go to http://www.mylearn2trade.com/.

Commodity Update For September 13, 2007 - Exited The December Corn Trade

On Wednesday, September 12, 2007, I liquidated my December Corn 320 Put Option, December Corn prices closed sharply up on September 12, closing at 356.4, up 15.2 cents for the day. Since prices went throught the strong resistance at the 355 level, and, because this market seems to be having so much trouble breaking out of its trading range between 372 and 324, and, because this market is staying so choppy, up sharply one day and down sharply the next, I decided to pull the plug on this trade. Also, I wanted to minimize any additional loss on this trade because of time decay on the option. So, I'll just stay on the sidelines until a better trade sets up and this market gets more firmly established in a trend. I liquidated my option at 60 cents or $300, which gives me a loss of $75 on this trade before commissions.

I'm still closely watching December 2007 Gold Call options. December
Gold was down 3.10 today to close at 717.60. So, that made the December calls a little cheaper. Now, I'm considering putting in an open order for the December Gold 800 call option which settled today at $540.

To take a look at all my trades, please go to www.mylearn2trade.com

Commodity Update For September 6, 2007 - December Corn Still Moving Lower

It was yet another good day for me with my trade with my December 320 put option. December Corn was down 6.4 cents today to close at 339.2. My option ended the day priced at 10 cents or a value of $500. At this point I have a profit of $125.00 before commissions. Now the next test will be whether Corn can break through the next support level at 333.

To take a look at all my trades, please go to www.mylearn2trade.com.

September 4 Commodity Update: Corn Trade Giving Wild Ride!

Yesterday, September 4, on the first day of trading after the Labor Day holiday, Corn made a sharp move up, closing at 353.2, up 13.2 points. December Corn had been up as high as 357, but had at least come off of its highs for the day by the close. So, with December Corn closing within proximity of my mental stop at 351, I decided to hang on to this contract one more day and sell the next day if prices were again up. At the close of trade on September 4, my 320 put option had a value of 6.125 cents or $306.25. That gave me a loss of $68.75 on the trade before commissions.

Fortunately, today, September 5, December Corn closed down 7.4 cents at 345.6. Prices also closed near the low of the day of 345 so that suggests we may see further downside action in corn over the next few trading days. However, with the volatility of the grain markets these days, who knows? Anyway, at the close of trading today, my option had a value of $400 which gives me a profit of $25 before commissions.