MURICO.com Forum

Re: Spike, the cattle market-----
In Response To: Re: Cattle *PIC* ()

sure had a day of panic yesterday. It didn't completely surprise me as I was in the process of starting to build my long positions for the April contract with last weeks low. I went home for the weekend very proud of myself for having buy orders working and hit @ 161.70, 161.45 and 161.15. I was really patting myself on the back for a job well done and my clients were happy also because they didn't think it should drop below 162.50. I still had orders waiting at 160.90 but I had done such a good job convincing everyone to be patient and it proved correct left me feeling no anxiety at all.

Late Saturday afternoon as I finished my Weekly Analysis to send out when I got around to correcting my spelling. Then it hit me, something had been nagging at me all day butI just thought it was my corn market targets. I finally realized something wasn't right, I shouldn't be this confident for a bottom on the cattle. I hadn't given one thought to Damage Control. I wasn't looking for ways the market could put the screws to me or my clients. Good trades don't work that way, my good trades have always had some anxiety involved until my buy signal was triggered. So I deleted my Weekly Analysis comments and dug into some more research to find something to justify a little anxiety.

I didn't find much to lower my confidence for April cattle catching a rally to new contract highs but I did find something to cause a lot of anxiety. My round of brain dead stupidity of not even thinking about stops for Damage Control sent shivers of fear down my spine. I had also overlooked the cattle market strong tendency to have a New Moon Drop, so I also added a few more buy orders @ 160.80-160.90. I also told my clients you have to add one more buy order that may or may not get filled but you do get to choose, either 160.80 or 160.90. None of them refused but they did think I might be having mental issues. I have a lot of clients that think that from time to time but they are still with me.

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Cattle *PIC*
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Re: Spike, the cattle market-----