VVVs is now 49.78 with a range of 49.28 to 50.28. In order for the index to drop to 48.125 where the VVVs are trading, the component will need to drop an average of -0.86 per day for the next eight days. The average decline for the last eight days has been -0.626 and there were some days where the packers trimmed their bids quite a bit. I know full well that packers CAN cut their bids in a hurry but maybe this is not one of those times.

The noon reports showed that packers were holding their bids up quite well.

Best wishes,

dhm
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