What I think goes into "Dumb Journal" and I trade system rules, today's low hit exactly 102.00 and started to get out of shorts and reverse into Longs in Oct Live Cattle. I know it was above 170s where I got short eventually after 5-6 tries and got long ave of 102.35, certainly didn't get 70 cents cause rollovers, but had several added short signals that didn't get stopped out, plus spreads, so another completed trade and might take months to find the lows. Am still short Feeders. Am hedged on the longs. Yahooooooooo.
I didn't even realize I posted this entry. I'm now short at 104, btw. Jumped in early in anticipation of 106.
Well, since Sept, and just like the shorts 2 years ago, took me one more try to seven tries of finding a bottom, but whether it is a bottom... I still need feeders to go much lower before considering a Buy on them. I plain get tired of posting same trades of buying new lows or selling new highs, doesn't that rocket specialist to look at dailies then intraday chart looking for divergences in volume and price to find best places to get in for another long term position. Hedged open profits on Wednesday, expecting pullback, hoping for deep enough pullback to 103 area and add to existing position.
http://www.agcenter.com/newcattlereport.aspx It's updated each business day, early morning. If you like to trade cattle, follow the daily briefs and help catalyze the changes needed at the CME. You're welcome.
Oh man. This thread is reminiscent of the good days of ET. The days when we could actually share views on the market without it turning into a battle over ideologies.
Most likely so few of people trade Live Cattle, Feeders, Live Hogs, Sugar, Orange Juice, Rough Rice and when you have less interested in it, you are left with those who trade them.