Nitetime, My sentiments on today are similar to what my broker had to say about today. Following are some of his comments, he actually sent me 5 pages!!

GENERAL COMMENTS: I knew there would be a day like this but I just did not know when. As massive fund selloff today seemed to be triggered by a sharply lower crude oil market and a sharply lower Treasury bond market. Lower bond prices is signaling higher or rising interest rates. Exactly what the selling was about in the crude is don’t know. The fund selling impacted every commodity with the exception of gold, silver, April hogs and the April lean hog carcass contract. Every other commodity contract was lower to sharply lower.

LEAN HOGS
Mixed to sharply lower close. Key reversal in June hogs with gaps filled in July through Dec. However, April hogs closed higher (along with the Apr carcass contract). Look at the April chart and there’s nothing wrong, look at the June and the spec longs paniced and liquidated. The chart gaps in the April and June remain unfilled. April closed up 60 with Jun, July and Aug losing 230 points. Oct was down 175 while Dec closed down 140. The Apr carcass was up 100. Today’s kill was pegged at 492k. The late cash was quoted up $1.50 on the national market to up $3.00 out west. The closing pork showed the cutout up $6.00 at $106.80. That’s not a misprint. The carcass was just quoted above $106.00.

Dewey