DAG may be a dog to some, but it can be a "good dawg" for a while!

DAG as an ETF may have its shortcomings, as some of my readers have rightly pointed out - including that it doesn't track right on just the corn and soybean commodities but others as well, plus may not give investors the same kind of tax treatment (though for those using options, well, you don't have to worry about taxes at all do you! (though options have their own pitfalls)). After Raymond Merriman suggested potential in this sector, I've posted the DAG chart and followed it. So by all means, you may rather trade the underlying as you see fit, but for KI$$ purposes I'm just as happy to use the DAG chart and let people know that if you're into simple things like ETF/ETN's (or options), this one's moving and may have higher potential particularly if it clears $12.50.

I don't want to see it fall under $9.00, or below that $8.50 or absolutely $8.00. So exiting (stop loss) would be reasonable in those areas.

Given the volumes showing up on the daily chart at upper right - and even the weekly chart, below - it's looking like this one might do better than a simple pullback toward that $12.50 level. Still, it's nearing chart resistance, so some might wish to take partial profits and/or tighten stops on all or part of the position in order to lock in some profits if price starts to weaken. (As I always say - how one trades is a matter of time frame and style, and not something I get involved with giving recommendations about for the most part.) There's no guarantee that DAG will make it all the way back to $12.50, so this chart resistance area - where the 50-day moving average will be soon - can be an acceptable place for some profit taking, and just exactly where may also depend on whether you're looking for a trigger bar on the hourly vs. daily charts.

Just for the record - no actual dawgs were harmed in the making of this post. Although some actual corn sounds like a nice side dish with dinner tonight!