decided to part with your herd of cattle, they can catch a bounce anytime for some sideways but it could take a couple more weeks before they actually find their bottom. I've been waiting since June 16th getting short Oct @ 129.50 and 130.00. I was using long Aug for a spread every time it dropped 4-5 dollars rather than take profits and I lost count on the many times I deposited a 2-3 dollar profit on long Aug but it sure made my bank account grow.
Then I switched to long Dec for my spreads just before the Aug 23rd Launch happened and I grabbed a $4 profit on Dec and threw on a 3rd short Oct @ 132.60. Now I'm patiently waiting for my downside target @ 124.80 hoping I'm not being too patient since I had a potential stopper target @ 125.85. I did throw out a buy order for Dec @ 131.70 just in case this week proves to be the low. My ultimate target for 1 short Oct is 122.60 for the Sept 22nd timeframe. Todays low could be all there is but the Bull Train has be too over crowded for too long so it may take awhile to get them all off the train. The cattle market has been very very good to me this year, so it's probably time I mess it up.