Straight into a limit up day.

I am going to stick with the wheat market for the time being. Today’s open was very strong, and I was wary of getting into a long position because of limited upside before the daily limit move (+30 points) was encountered.

Sure enough, after ten minutes the market locked at the upper limit and it looks like it will stay that way for the entire session (very high bid numbers at the upper limit). At all events, I’m not going to stay and watch it.

So my first report for 2008 will show a blank result – no trades today.

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