how much of a dip? I had my hedgers slap the Oct shorts they took profits, back on @ 53.45 on Monday. A few others now have orders waiting @ 52.95-53.15 to put their first hedges in place. They didn't like 62, 60, or 57, now they feel like they have no other choice.
I may be wrong but I've got my sights set on another $10 drop-------there's a big problem with that thought------50% chance I don't get what I expect. Right now its just one of those typical Hallucinations I frequently have and they don't all turn into Reality. When Oct hogs break 47.85 the odds of the $10 move becoming Reality go Up Dramatically. The summer months probably won't drop that much but they could sure take half the drop Oct has.