for a few days, my Hallucinations were to much to ignore------so I threw on my Bear Coat and had a handful of hedgers follow my lead of selling July hogs @ 79.00. We don't plan on holding these very long, if we don't get stopped out before the week is over, my Hallucinations have a chance of becoming Reality.
The Hallucination whispers showed up last week but I was so busy with the corn market, I ignored what was showing up on the charts. July hogs have been below 79.00 support long enough to signal there's another leg lower to the 73.00-74.00 area to complete the downside projections for minimum AS ABOVE/ SO BELOW Balance Addiction. The Correction Lines point the 72.00 area for the 90 count cycle low due between March 21st to April 3rd. The driving force to the event is the seldom denied March Wash Out. The mild Wash Outs are $5 Flushes and the years where price holds the upper end, we get 8-12 dollar Flushes. Since hogs are already bottom basing in the 5-6 dollar area and July really doesn't deserve to have a $2 premium over June at this time and June really needs and wants to retest the low end------the March Wash Out will get its addiction fix and once again put the ANXIETY & HURT on the popular bullish mentality. The market loves to dish out the Hurt where it does the most damage.
It could remain another Hallucination but I've bet on Reality and will not suffer much Anxiety & Hurt if Reality is proven wrong. Actually I'm betting on the March Wash Out Addiction.