MURICO.com Forum

Today is the day-----

for me to make another bottom picking effort. Although it goes against my better judgment from multiple failed efforts, due to my struggle with hallucinations, I have too many completion patterns lined up to ignore my weakness of trying to outguess the market. I carried a short position overnight with a 95 cent deposit order @ 75.87 that needed to be hit in the 1st hour of trade. My bottom picking target is waiting @ 75.45 but I did have an argument over the 75.05 target. Since I have 95 cents to risk against bottom picking FOOLISHNESS, I have no other choice but to respect the many pattern completion qualifiers lined up with a new daily count cycle that begins today. This is also in that July 20th to 24th window of addicted bottom reversals for Aug hogs. I also keep getting tempted by the next $5 increment push that totals $15 at the 75.42 mark.

How much overkill below 75.42, probably not much more than a $1 but I have to stick with my Damage Control rules. Maybe all the bounce we get is $2 which happened at June 30th daily cycle count but that one was messed up by the holiday 3 day weekend and then again at the July 11th-12th daily count window. We had a 23 day $12 rally into June 15, followed by 29 days of a $15 selloff from the June 22nd trigger to today. Some sort of bounce to at least retest the 78-80 but the Addictive $5 move would get very close to the 38% typical knee jerk reaction to the $15 selloff. Don't forget that Aug hogs do have a tendency to make a $10 run into the first week in Aug. Just a tendency but don't forget, it could be a HALLUCINATION on my part.

I'm still waiting for my hit @ 75.45---------patience--------but then I may not like what happens after the bottom picking anxiety sets in.

Messages In This Thread

Today is the day-----
I see, ITZ, that you - - -
Re: DH, it's got to-----
From the noon reports the model - - -
Re: From the noon reports the model - - -
Re: Dewey, it needs to start-----
Re: Dewey, it needs to start-----
It looks like the cold storage - - -