Yeah Running....that's all fine and dandy, but the huge factor now is DEMAND. My feeling: 1) weakening consumer = less beef consumption (inexpensive alternatives) 2) new interest in chicken with the blow-out IPO of El Pollo Loco 3) health conscious consumers: burgers = fatties All bad news for beef demand.
161.73 on the weekly. But we confirmed on the QTR. This baby is going higher. Next good level will be the August monthly A up.
I've got it going higher too because the setback climaxed the second day, showing that it was too weak for the rally to be over. The volume on the setback was also half of that on the up days.