I find myself in a wishy-washy state of mind, with the Hallucinations doing a complete opposite flip from the day before. Yesterdays positive indicators have just been trumped by a few negative indicators. I have a hard time ignoring them due to the fact that the board has such a large premium to the index. I know there is plenty of time for the index to come up off of its low profile------but I'm also starting to believe the board will need to do part of the work in shedding part of that premium. I've been on the phone talking to hedgers about short term hedges for maybe a $3 dip soon that could even turn into a $5 dip.
I just realized around closing time that the hog market has a well defined $5 range mapped out between 67-72 with a few days of over done on each end. Since early Nov the market has been using a very consistent 14-15 day swing cycle between highs and lows. The amusing game of tag has been causing this gyration back and forth. At some point the 14 day swing cycle will turn into another 30 day swing but this looks to be a typical sideways 4th wave type of pattern that I see as incomplete until it puts in one more 14-15 day down cycle, maybe clear back to retest the 66.50-67.00 base support but at least back to test a sell signal area @ 68.50. It all depends on how quickly the lean index starts showing significant upward direction.
Anyway, once again my Hallucinations have me questioning my SANITY. Makes me wonder what kind of Hallucination will hit me tomorrow. I'm just glad that Hallucinations don't change my fishing rules. Actually shifting Hallucinations are usually a sign of sideways trade and sideways trade makes for good fishing. Sideways trade also builds Launching Pads or Submarine Docks. That still leaves me with two guesses------LAUNCH------or DIVE! That's where Fishing Lines come in handy because sideways trade is used to grow those WHALES for the $10 Addiction.