MURICO.com Forum

NOT so nice fishing today-----

landed a pair of Oct suckers @ 71.95 that went to my target at 72.35 but I must of been at the back of the line and didn't get a fill. Lost 20 cents on the pair by not getting my damage control up to breakeven quick enough. Didn't realize I was dealing with that much volatile energy until it was too late.

The report must have traders on edge. Rightfully so since it could give us a big surprise. I would think a friendly report would be a bigger surprise than an unfriendly report. My hedgers had all talked me into light Dec hedges @ 66.20 rather than wait for the 67.20 target. Too many eager beavers for my comfort but being a hedge I couldn't come up with valid enough arguments not to have some price protection in place. A month ago they wanted to send me to the nut house when I was telling them I would not be a part of any hedges less than 65.00.

Anyway, after everyone got their 25% of Dec production hedged @ 66.20 today, I couldn't resist buying 1 Dec @ 65.60 the 3rd time it tested that potential support area. If damage control @ 65.45 does not take me out, I'll carry one into the hog report verdict. at the moment it looks as if I won't get to hold onto that long.

Messages In This Thread

NOT so nice fishing today-----
Re: The Prime Directive was screaming----
Re: The Prime Directive was screaming----