MURICO.com Forum

Re: Surprises are always nice------

when one set of lines after another get hit all in a 60 min time frame. I sure didn't expect it but the setup suggested it was possible, so I was ready just in case. I made a deposit at 70.00 which was expected but my next set of lines @ 69.80 had me believing they would prove to be suckers. I barely got Damage Control in place when my next set of lines @ 69.65 got the call. I was forced to deposit the 50 cents and hold the 69.65's for the next target @ 69.20. Once again I was surprised that my final target @ 68.50 gave me my final deposit when I was expecting to be forced out @ 69.30 to keep what I had. It's been awhile since the hog market has given me this kind of nice surprises.

a sell signal has been triggered for me with todays close below 69.20 but not confirmed until it has a couple closes below 68.50, so it can and needs to knee jerk back above 70.00 very quickly or the bears will smell blood. A break below 67.95 would probably FLUSH the toilet for a quick trip to fill the weekly chart gap @ 66.00. I tend to think that needs to/should happen before the market can sustain a break above the weekly chart downtrend line.

Nice way for me to end the week and my hedgers are just thrilled except a couple that wanted to sit the sidelines.

Messages In This Thread

The CME component on the kill for - - -
Re: Surprises are always nice------
Re: The CME component on the kill for - - -