clear to me that we are in the expansion phase of the hog cycle, I have traded it only fair. I have been much too timid about adding significant numbers of short MMMs, NNNs and ZZZs. Furthermore I barely dipped my toe into the long J/M spreads and when I had a little profit, I cashed in. In spit of my short comings, each month I seem to end up with some profits.

Best wishes,

dhm