MURICO.com Forum

Re: Spike, you have a lot-----
In Response To: I closed out my corn position ()

of useful info in your snapshots. A lot of it concurs with what I have mapped out with my own crude system of directional Red Light Green Light possibilities to base my choices. There are a few items I have a ?? on but getting clarification will have to wait because I'm swamped with lack of time to meet all of my responsibilities. I'm in the Bull Camp on cattle until mid to late Feb and long the Feb contract from Dec 20th @ the 136.00-136.15 area but the COF report had me a bit worried so I threw on some spreads Friday with short April @ 142.20-142.40. I had a potential reversal day today and didn't want to get married to the short April so I dumped the shorts yesterday at my correction line target @ 139.30 and added some long Feb @ 135.80 for a few guys that missed their chance Dec 20th. I'm not out of danger yet but it feels a little safer than it did yesterday.

My plan going forward is to catch a rally on Feb back up to resistance @ 141.00 but 142.00 area is my favored target. The cattle market has a 5 month cycle rotation low due in early March and it is a major Flush of 8-10 dollars. When I take profits on the long Feb if I'm lucky to get my 141-142 target area, then I will be looking to get short the June cattle for a multitude of producer hedges at my target area @ 140-141 and expecting a $10 Flush. Plans sound great but I don't always get to carry them out the way I like.

Messages In This Thread

I closed out my corn position
Re: Spike, you have a lot-----
Re: Spike, you have a lot-----