WASDE Report Monday

John Depape reminded The Trading Floor community members that the Latest WASDE report will be released Monday, Aug 12, at 12 noon EST.

Today is Friday.

We are beginning the weekend.

The WASDE Report will be released on Monday.

We have a few rules which we attempt to avoid breaking.

Attempt, because you know, discipline…..

RULES

1. Thou shall not lose our ass on Friday

   1. We try to avoid the temptation of entering a trade on Friday.

      1. There are too many unknowns with the markets closed until Sunday night, and a lot can happen until then.

      2. Fridays are for Farmer hockey and trips to Costco on your way out of town.

2. Avoid entering a position ahead of the news, i.e. WASDE reports, Earnings, etc.

   1. Any advantage we think we have is reduced to 50% with the uncertainty of the news and the market reaction.

      1. We have seen too many examples of the price going down on Bullish news and up on Bearish.