Financials leaked Wednesday with the Dow dropping 119 points, 33,150 and Bonds hit for a point and 19 tics, 108.13. So much for the rates stabilizing. Grain room weak with corn off 4 cents, 480 while wheat loses a dozen to 568 1/2. Beans off 7 to 1288 1/4 and meal looked a less sure of itself after a bit much of an upside run to me. Lots of charts starting to show some short-term cracks. 1612 rice up 1/2 but no flat Nov volume, just spreads. Someone exercised 100 of the 16$ calls today. If you don't understand why that was probably a very poor decision vs creating synthetic puts for free, we really need to talk. After Friday close, I can quantify just how poor the decision was.
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