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Re: Thanks for your thoughts DH------

I also have a very hard time finding anything bullish other than the current impulse wave higher. The bottom always starts with the first impulse wave higher-----if it fails to jump back up to 61.20 and crack the dam a little tomorrow, I fear my Damage control @ 59.10 will take me out of my two longs I felt so good about on Friday. That won't be a big disappointment because I had south fishing lines @ 59.60 today and they are still in place. Between 59.00-59.25 is a gray area of maybe support/maybe not. I'm guessing tomorrow will be a torcher day of anxiety for me.

I've already made plans with most of my producers who took their profits @ 58.50 so we have stops sitting @ 58.47 to put us back in their short positions on 25% of production. I don't feel a need to put them at risk of a fake out on too much since they already have $10 of profit. I told them we need to save our ammo for the Dec contract since that could turn ugly after the report, if it's negative. I have a few guys that already have sell orders waiting @ 60.25-60.50 but I don't feel real good about them if hit. If the report has some positive, it will probably favor Dec & Feb more than Oct. I've been telling a few of my guys, "since it may take awhile to get cash to turn, Oct probably won't have enough time to mount a $10 rally but Dec sure could Git R Done".

Messages In This Thread

The CME Lean Hog Index component on the kill for -
Re: The CME Lean Hog Index component on the kill f
I say, Dewey, you are a "Lucky Duck" to be - - -
Hogs by Dennis Smith
If China, - - -
Re: For whatever reason-----
It just might be. ITZ, that producers will - --
Re: It just might be. ITZ, that producers will -
Re: Thanks for your thoughts DH------
Good morning Dewey and ITZ. Since the - - -