MURICO.com Forum

Re: DH, Oct should have another----

90 cents downside to 53.85 to satisfy the $10 addiction with only a $9 move. Sometimes the addiction accepts a $9 move and sometimes it takes a $1 extra for an $11 move. The perfect $10 move doesn't happen that often. The markets like to come up short or overshoot the addiction targets. Of course a 1-2 bounce can happen at any time and not change the direction or momentum. I do have a potential support line @ 54.80 that allows a bounce to try and retest the 60 min high @ 55.80 or even the 2nd 60 minute high @ 56.30 to retag the 9 bar mov av.

From my perspective(hallucinations) thinking Oct hogs deserve a profit taking bounce/rally to help narrow the gap with the index. Todays support is not the strongest support line to choose for a strong bounce, there is a set of lines on the weekly chart between 53.30-53.90 this week that I'm betting on. I have a 5 month hog market swing cycle low due between Sept 13th-Sept 22nd that lines up with a daily count cycle window the 16th-18th that can either be a cycle low or cycle hi but I would have to guess it to be a cycle low and will start setting a few north lines for Oct to spread it against my short 56.10 Dec. I do not want to walk away from my short Dec because I do believe I've caught a WHALE that's not full grown.

Messages In This Thread

The CME component on the kill for - - -
Re: DH, Oct should have another----