Mar. 31, 2010 Tutorial: Corn, Ahoy!

We took the time to examine Apple’s charts closely, since a potentially tradable opportunity in the stock was featured in the day’s touts. As it happened, the trade triggered, albeit not in the way we’d expected. We also took a look at May Corn, which had just penetrated a key support. Although the breach was slight, it was deemed sufficient to imply that a breakdown as large as 20 percent lies ahead. Copper’s chart showed no such weakness, suggesting that it is mainly agricultural commodities that are headed for a fall.