Sold at open at 1.6 as i knew it was going down further..
Disappointing, maybe not good enough guidance.
Ill pick some more up if it drops low enough
I was right about the great quarter numbers at least
should see some upped price targets soon.
i believe q3 and q4 are the best earnings to play now as MON likes to guide very conservatively until it has the full season results.
im looking to get back in around 77. wont see any institutional investors selling imo. still good long term growth
back to the range game before next quarter.
never any peanut gallery here. corn isnt as exciting as a new iphone i understand.
conservative guidance encouraged the profit taking.
only 5-10cents raised full year which was already priced in. plus a fear of deliveries getting pulled from Q3 into Q2 because of the good weather.
in CC, they are not worried at all.
im not worried as well, looking to see if the 77's hold where ill be buying.
look for new price targets to come out soon, could be your catalyst depending on the firm and the #.
bought puts last friday for 2.87, exited at 4.10 on tuesday. Tuesday bought 77.50 calls i believe for 2.34 each. exited those at 2.12 yesterday.
was thinking the trendline would hold but it broke under today. will see if it can regain it but i doubt it.
bad PR in the wind as well with California trying to pass labeling laws. and market is posed for a sell off imo.
next stop 72.
big decision looming in Brazil
Basically, soybean producers dont like the royalties they pay on the Roundup ready soybeans. Could cost $7billion for MON.
Its kind of interesting how monsanto has been getting royalties once from the seed and again when the farmers replant they have to pay again.
It sounds dirty but its the only way to protect their product. If they lose the case then they will get killed not just on the 7B in reinbursement but a lot of future sales there.
I would have bought the dip but this issue could weigh on the stock until theres a decision. might go bad as public sentiment is likely not in favor of monsanto.
looks like traders are shrugging off the Brazil stuff until something is decided. Earnings wednesday morning is on the mind.
Corn jumped out of the gate today because of dry weather. Positive corn prices is usually good for monsantos stock price.
Personally, Im in with July 80 calls that i got in last friday. I got in when it bounced off low 77 area but missed 50 cents of upside before i finally pulled trigger.
plan is to hold to tuesday where i will cross my fingers for a nice push to around 82. unload my calls then go from there.
held my calls and looking mighty fine right now. closed everything out.
Here is a tricky spot . It made a new 52 week high on tuesday with pitiful volume so might be slowing down..but failed to close above it. also above the upper BB
i might try a couple puts here as it could use a breather. we'll see how it opens up and ill take it from there.
close right at that resistance line i was talkin about.
not sure how the corn crop will recover this year after so long with no rains.. If rains do come, maybe its too late anyway.
so i doubt much abatement in corn prices.
edit: Crop Report for those interested
*only 31% of Corn considered good/excellent.. ouch
Score one for Monsanto. Dupont lost 1B suit.
Been bouncing off the 87.70 range.. Buy the dips in this one or wait til it breaks above 88.
$85 is short term support than 82.50, 80
Were sitting at resistance from back in 09. i think it will trade between 80 and 90 until next quarters ER
looking extremely positive. PE is a little high and not the strongest dividends but everything else is there.