The crop report will be coming out tomorrow. The shorts appear to be on the run today. The Corn P&F sent Monday has not broken down. Wheat did not quite get to our optimal buy zone. Why am I going on about this? We’re still Long JJG which we bought just below 50. We took a big chunk off with an avg. price around 55. I am restating this for two reasons: We trade to make money! Not to be right!There is a big difference in this type of philosophy. That is why we always scale in and out (PAY FOR OUR STOPS). It is important to trade from the right side of the market!

A good example for today is the corn which is now rallying. We tried to buy them at a technical area Monday ( Buy them before you sell them…as we never had any intention of going short). We got stopped out of the futures, however a few longer time frame traders bought the CORN ETF with the 30 cent stop I suggested and are still long.

You should be aware that I am not into fundamental psycho babble. There is always someone out there that has more info and is smarter than I am in how to leverage that knowledge. At WhiteWave we are only concerned with price action and risk management ( What we are willing to risk or how much money we will put at risk on any trade). This means we are focused on Technical Models,Wave Structure, Capital Flows and Time frames ( when things can turn).

To sum up, you’re either in or out for some of these reports. I missed the Jan. report and waited until May to get them back on with good trade location ( We bought on our terms with a risk profile we could live with). We made 10% in 5 days with less than 3/4 % risk. In our world we take the money or a good piece of it when something moves this fast this far.