I grabbed my long June hogs-----

today @ 78.85, now the plan is to wait for June cattle to climb back up to my desired target @ 120.00 to get the short leg on for my annual cattle/hog spread. Since today was just a guess that this area should be support, I'm working my usual 1.00 damage control. My comfort zone is the 1.00-1.25 risk on any bottom or top picking guess.

Over the years I've noticed that if it goes that much against me------I'm wrong, so why make a larger donation than called for. I've gotten stubborn many times(usually 1-2 times per year) which results in doubling the donation 90% of the time. That's not very good odds, I should know better than to allow it to happen. I just can't shake that human addiction to relearn old lessons. Using the 1.00-1.25 damage control rule carries a 70% success ratio for catching a good entry point for a move to my first target which generally amounts to around $2 depending on other factors like last broken support. June hogs need to get a daily close above 79.80 before I can start thinking it has a chance to go to my first target @ 80.50-81.00.

Since my estimated cattle/hog spread target is a 40.00 spread, I can pull the trigger for the short cattle leg @ the 119.00 area but I will attempt patience for my technical target @120.00

Messages In This Thread

I grabbed my long June hogs-----
Well, ITZ, your long HEM8 is - - -
Re: DH, the cattle market------