Batteries not Included - Wednesday, page-8

Bought more beans last night (new triangle).  Seeing a clear bullish consolidation below the 100 sma and 23.6% of 144 day move down into low.  Moved stops up to 856 (red line) so still prepared for a loss because price has to come back that far before I accept there is a high probability that something else is occurring, other than what I presently see.  That stop might move just below the higher low to allow for a higher double bottom, but that really wouldn't seem probable with the big outside days/engulfing candles.  If price does come back that far, I would expect to have hedged as the bottom would likely be dropping out of beans for some unknown reason which even the fundamentals are not presently supporting even remotely.

Waiting for crude to do something stupid to the downside.  Patiently waiting, and watching, waiting and watching.  Still.  Knowing that if and when the time comes to act, action will happen of its own volition, and the observer need do nothing but observe.