my spec mentality was not expecting the 74.00 area to be the top. From a hedge mentality, which I have to force myself to think from that perspective, I had to have 50% of production protected. All qualifiers were in place @ 74.00 and the timing window for the beginning of the fall for the 9 year cycle low can open in early July but usually waits until early August(80% of the time). This was one of those 20% surprise moves. I get paid to manage risk for my producers, so my responsibility forced me to us a hedge mentality for their best interests. For myself, I stuck to my spec mentality and expected a reversal at every support level.

I didn't actually get a sell and hold position until after July 4th with a pair of sell stops @ 70.95. I had a slew of add on sell stops for the FEW GOOD MEN that were listening to me @ 70.90. I decided to follow my own hedge advice and used the 90 cents profit on 1 short for my risk to hold the other and see how much downside run the hoggies had. They are still running and have exceeded my best expectations------at some point I'm gonna have to part with this 70.95 position that I'm growing very fond of. It started out as such a little thing that I didn't expect to have very long. Now I think maybe I caught a WHALE. I can't plan a catch like this-----it's just pure LUCK of being at the right place at the right time.