at the moment. Here we go again-----is it just a fake out to suck in some bears----72.00 needs to hold and probably will with the expiration trade ready to do its thing. I've been over extended with the grain and cattle trade, had to leave my fishing gear in the closet the last week. I did have to keep an eye on the hog market for my producers and was forced to throw on some April hedges yesterday for 25% of production as it took out 73.50. I had my aggressive guys working sell stops @ 74.20 last week and I thought that was a stupid idea but had no other choice but play the loss of up momentum. I thought yesterdays sell stops @ 73.47 for everyone(only half gave the ok) was even a stupider idea but had no other choice. Now everyone is waiting to be stopped out. A situation where we would all be happy with 90 cent loss to give us a chance at Feel Good hedges at the 76.00 area-----just so we can feel Stupid again as it goes to our original target at 78.00.
The market has a way of making everyone feel STUPID. I've gotten used to it but for most, it messes up their whole thought process to make them easy bait for the SHARKS. If you are gonna trade, you can't take yourself too seriously by having a Big Ego----you have to embrace your human stupidity and take each day as a learning experience.