8/19/15 was down -$0.21 and the model projects that the CME Lean Hog Index component on the 8-19-15 kill will change somewhere in the range of down -0.20 to up +0.10. Considering the fact that the VVVs are trading discount to the component by -13.58, the projected change doesn't amount to much and is essentially unchanged.

Generally the Index goes into a steep decline after Labor Day then rallies in front of the VVVs going to cash settlement. The cash settlement, on average, is about 6 or 7 points below the QQQs cash settlement. If it works out that way this year, we are going to see the VVVs tack on five points or so by cash settlement.

But gracious, it could be a mighty rough ride between now and cash settlement.

Because of this wide "Gap" and the trend line reversal signal, I got long a VVV pig this morning at 65.05. I was a little timid after the wide gyrations the market dished out yesterday so only bought a one'zie. Yesterday was a very good day for me but I had to take a deep breath a couple of times in order to calm down.

Best wishes,

dhm