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Corn hit it's 5% limit on Friday and gapped down again Monday. I believe it hit its limit again and is currently locked limit down so you can't sell. That's a bad situation for those locked in long positions. |
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Did anyone follow Wheat yesterday? Same thing, gapped down, then stopped and reversed. It hit a major support level and moved back up the rest of the day. I wanted to go long but wasn't sure of the lock limit concepts. Maybe you can shed some light. What's the max. percentage move up or down before the lockup takes place? Any examples we've seen lately?