MURICO.com Forum

Aug hogs have broke above----

the downtrend line that has been in place since June 2nd. If it can stay above 73.00 it can hold on to the up momentum started with todays move above 73.35. I'm holding a pair of longs at 74.00 that I'm sweating the consequences of not taking profits on 1 when I had first target at 74.50. I was too busy with the corn market crop report explosion to trade my own hog trade. I'm due a donation so I'm sure the market will take it will it has my back against the wall. I argued against my better judgement to dump one at the afternoon close to keep my donation minimal but my better judgement didn't win so I can expect my damage control @ 73.85 and 73.50 will trigger my donations and 73.40 will turn it back up to make a run at 75.00. Maybe I will get lucky and I will get an open that allows me to dump 1 @ 74.50 for some breathing room to play with the other. It could get a growth spurt to go after 76.00 but I'm not counting on it.

I would think some of those short positions would notice the break above the downtrend line to cause some anxiety to lighten their load. That may only be meaningful to me.

Messages In This Thread

Aug hogs have broke above----
I see where you got your - - -
Re: The settlement price-----