MURICO.com Forum

Oct hogs triggered a buy signal

with yesterdays close above 65.27. I had no other choice but to buy a pair late afternoon @ 65.10 and set my damage control @ 64.65 the previous 60 minute low support which was in my 50 cent risk parameter. It's looking GOOD at the moment. the countdown to LAUNCH may be in progress. I don't hear the countdown voices but that's a good thing. I've rid myself of the strong bullish bias so maybe that has gotten rid of the voices also. I do still favor upward movement over down for several reasons.

DH, you made the comment that I favored 2009 type of directional movement for Oct hogs, which is somewhat correct. My reasoning is, 6 years is too soon to have a retest of the previous major cycle low at 43.00 or 50.00. the base support area for the first 1/2 of the 9 year cycle(2009-2014) a total of 54 months from bottom to top. That is calculated from Oct 2009 when the market started to trigger the reversal off the bottom but the chart price low was put in by the Oct contract a few days after it took over as front month and rallied $10 into expiration. the market never looked back in a big way until the May of 2010 contract expired. The base lows from 2010-2012 the first 1/4 of the 9 year cycle were at the 65-70 area. I have to believe since so many are bearish the 65.00 area should prove to be support as it was in Nov of 2010. I guess there could be a retest of the March weekly chart lows at 57.00 but since the crowd is already bearish and Oct hogs have not expired below 73.00 from 2010-2014 I don't believe they will do now since they are already discounted so much.

Now Dec, that's a different story they could go into a $10 or more fall by thanksgiving.

I remind everyone, I do have a habit of hallucinating. That's why fishing is what keeps me playing the game and from doing major financial damage. Been there, done that, and don't care to go back. Every couple months I do think I've found a crystal ball and put it to the test. The fishing guidelines have to be followed and the PRIME DIRECTIVE strictly in place or major damage is guaranteed.

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Oct hogs triggered a buy signal
I find it a bit difficult to get - - -