Monday

Some TV jockeys calling for Black Monday and 22% declines to lead us into the new week.  Dow was a ton lower in the middle of the night setting up a path, but then buying showed and we exploded.  A 2700-point Dow range on the day and a 365 point lower close was the end result after a lot of noise, 38,165, and now there is a wild west range of air for the computers to herd retail into and out of.  5 full points of bond action and a 2-point, 31 tic lower close, 117.20 brutally punishes those with flight to quality trading programs.  I don't like that bonds could be that weak.  Harder for Powell to cut short term rates with that kind of long rate action.  Recovery day in the ag room with rice leading the way, 1332, plus 24 1/2.  Corn up 4 1/4 to 464 1/2 and wheat right there as well, 536 1/2, plus 7 1/2.  Beans gained 6 cents, 983.