MURICO.com Forum

Re: Spike, the hog market-----
In Response To: Hogs Daily *PIC* ()

has been a tough one for correct choices the last couple months. My choices have been correct but my damage control choices have not allowed me to reap the best rewards. I had sell stops hit yesterday @ 78.92 and it went quickly to my 1st target @ 76.75 today to start my arguments with myself and a couple producers whether to take the $2 profit or risk getting stopped out waiting to see if this fish has some extra growth for another $2. This argument stage always seems to be a catch 22 situation. I draw my lines different from yours but the targets and end potential results come out the same.

I don't like to give back too much so my argument is to take profits then reset a sell stop if it breaks the support or buy stop if up momentum has control. Then I get sidetracked with corn and cattle and don't get my stops set. If I hold to give more growth time it blows my damage control leaving me with pocket change. There's just to much to do and not enough time to do it. This is my time of year to hit the road to drum up extra business so time is a big factor to cover all the bases. I don't run the bases as fast as I did 2 years ago and I'm sure it will get worse 2 years from now. I don't plan on retiring but in 2-3 years I'm going to stay in the office and just focus on trading.

Today I have cattle and corn trades to babysit, everyday I have cattle and corn trades to babysit. Was long Feb cattle and banked profits on the cycle day the 29th @ 141.25 and reversed, added more shorts yesterday @ 139.70. They have to break 138.17 before I can start thinking about it going to my 136.60 target. I always have corn trades on and that market has been a nightmare but I finally started having guys use the March contract and we sold a bunch @ 5.85 and 5.86 last night. If it pops back to 5.93 we are screwed again. The Bull Camp is packed to the outer limits and beyond, I just can't force myself to follow the herd without a retest of 5.67 but my eyes are set on a test of 5.57. Many tell me that's stupid but they were saying that when we road the Dec contract down to 5.47. Then we gave back half by giving it too much room with our stops. The markets make a trader look like a genius one day and a stupid fool the next. Just a humbling experience but if your not careful it can be a painful destructive experience. I love a challenge

Messages In This Thread

Hogs Daily *PIC*
Re: Spike, the hog market-----
Re: Spike, the hog market-----
Re: Spike, the hog market----- *PIC*
Spike & Itz,
Re: Dewey, I'm constantly telling----
Re: Spike, my next potential----
Re: Spike, my next potential---- *PIC*