might be attributed to profit taking on the cattle/hog spread. My original profit taking target, if I had managed to grab one of those spreads, which I failed to do, was the $34 area. I had 2 guys that were smart enough "to do as I say, not as I do" and acquired one of those reliable and lucrative spreads @ a $46 spread while I was being nit/picky trying to get a $48 spread which left me on the sidelines. They were also non hesitant about taking that spread to the bank @ $34. In this case the teacher ends up looking like the student.

It seemed as if that spread attempt for me, left me with a bunch of lemons-----but being a Lemon-Aid expert, I was ready to start another brew. I had been waiting in anticipation for the end of the week, with a very reliable positive cycle for the cattle market to begin today. I started buying June cattle yesterday off of the 60 min buy signal trigger @ 116.95 and added 2 more today @ the daily buy signal trigger from yesterdays close above 119.35. I had to close my eyes and go with the 119.62 close for my orders. Expecting a $10 rally in June cattle off this positive cycle energy. When you miss one opportunity, it usually sets up another Lemon-Aid opportunity.

I did get about 60% of my hedgers to take profits on their June hedges at the 114.50-115.00 area. The 40% that didn't thought I was insane and a couple even told me so. I believe everyone has a right to their opinion but when the markets are concerned, a wrong opinion can be very costly.