with the Q/V spreads this year. I took the long side and yesterday morning before they opened it looked like we were going to get a repeat of the beating the N/Q took so I sold them all at the opening and mighty glad that I did as I saw how they crashed as the day wore on. We may be poised for the Q/Vs to suffer more of the same fate that the N/Qs suffered so I am going to probe the short side of the Q/V spread and also test shorting the QQQs.

The data seems to be saying that the CME Lean Hog Index has bottomed out but climbing up the 8.52 "Gap" we are now looking at is quite a lot to ask over the next 21-trading days.

Best wishes,

Doc