MURICO.com Forum

Re: Dewey, the hog market
In Response To: Hogs by Dennis Smith ()

continues to not make any logical sense. It doesn't have to, I find myself reminding traders, it is the futures market and until the 2 week expiration trade, the market is making guesses as to what direction cash will go out into the future. That's the only way I can deal with the craziness. The Dec chart remains positive with a look that it may have a mission to fill the gap at 101.50. I decided to take profits on part of my short positions with Fridays weakness and have stops setting at 97.35 to take me out of the rest if the 96.00 area proves to be support. As long as the daily closes remain above 94.80 the chart remains positive with a gap filling target at 101.50 trying to lock on. The hog market has 2 more weeks for a marketing hole to show up to prevent the bottom from falling out. Dec hogs may be stuck in the 95.00-97.00 range this week. At this moment I sit an wait because my mid range guesses usually turn out to be painful.

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Hogs by Dennis Smith
Re: Dewey, the hog market