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Bird Poo
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In reply to Farmer @ Johnsongrass, TX • 12:32p, 6/1/22
AG
Farmer @ Johnsongrass, TX said:
Farmer @ Johnsongrass, TX said:
TubTub said:
Interested to know your price outlook on WEAT, SOYB, and CORN. Still holding or exiting in the next week?
Entry Point
CORN = $29.63
SOYB = $28.66
WEAT = $10.99

Today's Close
CORN = $29.23
SOYB = $28.27
WEAT = $11.90

The only one of these 3 that has a near term chance for a pop is WEAT. WEAT is a fund of Futures traded on the Chicago Exchange (soft wheat). The wheat of concern is hard red winter wheat and that's traded on the Kansas City Exchange. So, we have the right crop picked (wheat) but the wrong type (Soft and not Hard Red). The action will be in the Kansas City pit with some spill over into Chicago. Most folks diving into this stuff don't know this detail and most think "wheat is wheat" and that's fine. I am going to enter a sell order at $12.25. I think it has a good chance to hit that number.

CORN and SOYB, I hate to bail on these, but I just want my money back. I will enter orders at cost. If you plan to hold these, I'd exit before the end of June.

If holding for longer than June, I would pick WEAT as the longer term hold.

Basically, my entry points sucked. It happens.
Article from May 18th - Pratt, KS - hard red wheat country.

https://www.pratttribune.com/2022/05/18/southwest-kansas-wheat-devastated-by-drought/

This is bullish wheat.

Maybe I am setting my sights to low at $12.25..
I've been following WEAT since you posted this--thank you! The pundits keep saying the price of wheat is going to soar yet WEAT is down to $10.50? I can't tell if it's being manipulated or if the doomsday click-generating media is making things worse than they really are.
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Brewmaster
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12:41p, 6/1/22
AG
added SPY verticals Friday exp (OTM) with 4100 reclaim
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Red Red Wine
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In reply to Bird Poo • 12:43p, 6/1/22
AG
WEAT is already up almost 100% in the past few months. It will probably hang out a bit here until the picture becomes more "real" and it spikes to over $20. I think it makes it to $25, but I have no insider knowledge or special expertise.
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BrokeAssAggie
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In reply to BrokeAssAggie • 12:44p, 6/1/22
BrokeAssAggie said:
BrokeAssAggie said:
AMD $105 calls 0.50 cents entry. If price breaks below $100 I am out. giving it until 11:10.
setting stop at 0.40 cents. leaving for lunch and maybe these will be at $1.50
back from lunch. These are holding up nicely. will trim some around 0.75 cents.
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Red Red Wine
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12:48p, 6/1/22
AG
Come on boys. Fight, fight, fight.

Dow and Nasdaq turning around - gotta keep that mojo going. Who's turn is it for the slump busting?
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zebros_95
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1:01p, 6/1/22
AG
Rally Ass Time!
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BrokeAssAggie
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1:09p, 6/1/22
AMD flagging. If macros push up AMD will rip.
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$30,000 Millionaire
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1:22p, 6/1/22
AG
Market seems pinned. I think we are likely to get some buying into the close, but let's see.
You don’t trade for money, you trade for freedom.
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BrokeAssAggie
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In reply to BrokeAssAggie • 1:23p, 6/1/22
BrokeAssAggie said:
AMD flagging. If macros push up AMD will rip.
boom. there it is.
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Brewmaster
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In reply to BrokeAssAggie • 1:28p, 6/1/22
AG
BrokeAssAggie said:
BrokeAssAggie said:
AMD flagging. If macros push up AMD will rip.
boom. there it is.
oh yeah! kept pushing up against 4100 and change resistance.

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J.P. 03
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1:43p, 6/1/22
AG
I'll leave the gif posting to the experts, but please accept this instead as the motivation we need to rally the bulls to break back through 4125. LET'S GOOOOO!!!!!

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Bird Poo
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In reply to Red Red Wine • 2:19p, 6/1/22
AG
Red Red Wine said:
WEAT is already up almost 100% in the past few months. It will probably hang out a bit here until the picture becomes more "real" and it spikes to over $20. I think it makes it to $25, but I have no insider knowledge or special expertise.
Perhaps the price of wheat is up 100%, but this ETF is not. It's down 10% the last week.
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FishrCoAg
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In reply to Bird Poo • 2:26p, 6/1/22
AG
Bird Poo said:
Red Red Wine said:
WEAT is already up almost 100% in the past few months. It will probably hang out a bit here until the picture becomes more "real" and it spikes to over $20. I think it makes it to $25, but I have no insider knowledge or special expertise.
Perhaps the price of wheat is up 100%, but this ETF is not. It's down 10% the last week.
It was 5.97 less than a year ago.
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BrokeAssAggie
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In reply to $30,000 Millionaire • 2:31p, 6/1/22
$30,000 Millionaire said:
Market seems pinned. I think we are likely to get some buying into the close, but let's see.
Think we will finish green today
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Brian Earl Spilner
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2:33p, 6/1/22
AG
Entered BRK.B at $311 for a long term hold. Still sitting on a bunch of cash but want to offset my riskier TQQQ trading.
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BrokeAssAggie
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2:40p, 6/1/22
VIX new LOD. here comes rippy.
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FJ43
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In reply to FJ43 • 2:41p, 6/1/22
FJ43 said:
Mornun!

Mixed around the horn.

US mixed
EU mixed
Asia mixed

Wont be able to trade much and if so will only focus on SPY unless an alert goes off.

Some levels for you degenerate scalpers today. White are rough SRs to trade against. Red are key SR levels IMO. For me would love to see a backtest if that 406.80ish range and then go long.

Trade wisely!






Did y'all action on last nights post and this morning post about back testing the 406.80ish range?




Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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ProgN
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2:42p, 6/1/22
Congressman Adam Schiff proposes new bill designed to lower gas prices and tax oil profits - ABC7 Los Angeles

Federal Gas Tax Suspension and Windfall Profits Tax Act (house.gov)

Keep your eye on this if you're in O&G stocks and industry. Schiff wants to tax O&G companies 50% of their profits.
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irish pete ag06
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In reply to irish pete ag06 • 2:43p, 6/1/22
AG
irish pete ag06 said:
Done for the Day. Puts on QQQ and FB.
[img]https://f5s-img.s3.amazonaws.com/000/0d/58/0d583c3ec8e17608f479 b9142e4e880daee33e3f_28411_u62491.jpg" />[/img]


Damn flagged image.

Famous last words, saw the FB news, in and out of one more FB put in about 20 seconds.


Why does it always flag my images!

+3.72% on the day
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Decay
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In reply to ProgN • 2:44p, 6/1/22
AG
ProgN said:
Congressman Adam Schiff proposes new bill designed to lower gas prices and tax oil profits - ABC7 Los Angeles

Federal Gas Tax Suspension and Windfall Profits Tax Act (house.gov)

Keep your eye on this if you're in O&G stocks and industry. Schiff wants to tax O&G companies 50% of their profits.

Wow what a coincidence, they're going to have a huge increase in costs and have no profits next year
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gougler08
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In reply to Decay • 2:52p, 6/1/22
AG
Decay said:
ProgN said:
Congressman Adam Schiff proposes new bill designed to lower gas prices and tax oil profits - ABC7 Los Angeles

Federal Gas Tax Suspension and Windfall Profits Tax Act (house.gov)

Keep your eye on this if you're in O&G stocks and industry. Schiff wants to tax O&G companies 50% of their profits.

Wow what a coincidence, they're going to have a huge increase in costs and have no profits next year
Time to spend for O&G!
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Philip J Fry
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2:55p, 6/1/22
AG
I'm sorry. Can someone help explain to me how taxing a corporation is going to help reduce the cost of their product?

Explain it to me like I'm a 5 year old.
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Bob Knights Paper Hands
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2:55p, 6/1/22
Dump into close confirmed. IMO this makes that spinning top relevant and I think we are likely to reverse and head back down from here. That could all change tomorrow, but I'm more short term bearish today.
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texagbeliever
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In reply to Philip J Fry • 3:00p, 6/1/22
Philip J Fry said:
I'm sorry. Can someone help explain to me how taxing a corporation is going to help reduce the cost of their product?

Explain it to me like I'm a 5 year old.
This will incentivize the oil companies to expand more capital to get gas out of the ground. By increasing their capital costs they can effectively push profits out to future years when republicans take back the office and repeal this policy. This will be a huge boom for O&G companies.

But the reason democrats are doing it is because Oil bad and needs to be punished.
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Saltyag15
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In reply to Philip J Fry • 3:01p, 6/1/22
AG
Philip J Fry said:
I'm sorry. Can someone help explain to me how taxing a corporation is going to help reduce the cost of their product?

Explain it to me like I'm a 5 year old.
The people coming up with these ideas have the mental capacity of a 5 year old. They should be able to shed some light on it for you.

Edit - texagbeliever's 2nd paragrah.
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Philip J Fry
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3:06p, 6/1/22
AG
I just think it's hilarious. Oil has been this price before. Gas has not. There's a disconnect here. Sad that they really think most Americans are too stupid to see it.
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BrokeAssAggie
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3:10p, 6/1/22
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Red Red Wine
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In reply to Bird Poo • 3:34p, 6/1/22
AG
Huh?

WEAT was hovering around $7.50 December, Jan, and Feb then started moving up in March to where we are now. it popped over $12 (once in March and once in May). It has dropped a few bucks since then to be just about $10.50 or so.

So, yeah, it's only up 50% right now since Feb, but did hit about 67% on the two highs.

But I do stand corrected, my 100% comment should reflect a longer view (end of summer last year to March this year).
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Red Red Wine
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In reply to Philip J Fry • 3:36p, 6/1/22
AG
What's the disconnect?

If refineries are shut in, they can't make products. We have seen refinery closures the past 10 years since the last high oil spike. COVID led to a few more closures and export markets for distillates look good too so all of that is putting pressure on fuel prices.

Not sure what you meant with your comments though.
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Bird Poo
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In reply to Red Red Wine • 3:41p, 6/1/22
AG
Red Red Wine said:
Huh?

WEAT was hovering around $7.50 December, Jan, and Feb then started moving up in March to where we are now. it popped over $12 (once in March and once in May). It has dropped a few bucks since then to be just about $10.50 or so.

So, yeah, it's only up 50% right now since Feb, but did hit about 67% on the two highs.

But I do stand corrected, my 100% comment should reflect a longer view (end of summer last year to March this year).
No worries. I was confused by the 100% comment and I see your clarification.

I still wonder when would be a good time to jump in if all the predictions about the price of wheat come true. I may get in the game if it gets around 10.25. Thanks!
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XXXVII
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In reply to Bob Knights Paper Hands • 4:01p, 6/1/22
Bob Knights Liver said:
Dump into close confirmed. IMO this makes that spinning top relevant and I think we are likely to reverse and head back down from here. That could all change tomorrow, but I'm more short term bearish today.


Two conflicting opinions.



Who should I believe?
DeSantis 2024

FJB, FJB, FJB, etc
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Triple_Bagger
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In reply to XXXVII • 4:02p, 6/1/22
XXXVII said:
Bob Knights Liver said:
Dump into close confirmed. IMO this makes that spinning top relevant and I think we are likely to reverse and head back down from here. That could all change tomorrow, but I'm more short term bearish today.


Two conflicting opinions.



Who should I believe?
Let FJ be the tie breaker
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ProgN
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In reply to Triple_Bagger • 4:08p, 6/1/22
Triple_Bagger said:
XXXVII said:
Bob Knights Liver said:
Dump into close confirmed. IMO this makes that spinning top relevant and I think we are likely to reverse and head back down from here. That could all change tomorrow, but I'm more short term bearish today.


Two conflicting opinions.



Who should I believe?
Let FJ be the tie breaker


J/K FJ, love you bro.
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Philip J Fry
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In reply to Red Red Wine • 4:14p, 6/1/22
AG
Red Red Wine said:
What's the disconnect?

If refineries are shut in, they can't make products. We have seen refinery closures the past 10 years since the last high oil spike. COVID led to a few more closures and export markets for distillates look good too so all of that is putting pressure on fuel prices.

Not sure what you meant with your comments though.

I would say the disconnect is that the oil companies aren't pricing gas out of greed. It's a response to an anti-oil administration and banking making it hard to stomach the risk of capital investments.
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Jet Black
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In reply to XXXVII • 4:18p, 6/1/22
XXXVII said:
Bob Knights Liver said:
Dump into close confirmed. IMO this makes that spinning top relevant and I think we are likely to reverse and head back down from here. That could all change tomorrow, but I'm more short term bearish today.


Two conflicting opinions.



Who should I believe?


I'd lean fj
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