MURICO.com Forum

Extended downside proven correct

the question is-------how much more. Daily cycle count for potential bottom Wed & Thurs with Time & Price squaring off the July high at the 79.20-80.10 range. I expect to see some sort of reaction bounce happen in that $1 range and I see no reason why hogs go lower than last year at this time. As always, the market doesn't care what I see or think. All I can do is make my guesses and have a blindsided plan in place. Orders working to exit shorts at 80.10 although I believe the drop will go to 79.50-79.85 before finding a bounce but I don't want to be greedy trying to get the extra 30-60 cents that doesn't have to happen. The 80.10 doesn't have to happen either but that's where the mass of potential support lines start showing up. I'll focus on the the lower targets to try and catch the long side for a potential bounce.

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Extended downside proven correct
Pre-opening has Feb cattle looking to go - - -