The CORN (Corn ETN) swing trade idea hit the maximum suggested stop of 11.94 today for a 5.8% loss. As such, CORN and all posts associated with this trade will now be moved from the Active Trades category to the Completed Trades archives for future reference. Previous & updated daily charts below.

FWIW, I don’t have any strong convictions on where CORN goes from here in the very near-term although today’s drop does appear to have the potential to be a selling climax or at least the start of one that could last a couple of days. CORN futures are currently trading in the middle of a long-term support zone so I believe that the downside is still limited compared to the upside potential for those that want to give the position a little more room as a longer-term, bottoming play on corn prices.

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