Discussion in 'Commodity Futures' started by spreadem, May 8, 2003.
It looks like a June live cattle topping formation if we see a close below 72.40.
Check the historic seasonality.
Live cattle prices seem to peak in March/April and trade sideways to lower into the summer . When there is a very hot summer look for liquidations which drive prices down.
While I'm not picking a top yet, I am alert to topping signals.
June cattle blows through Mon/Tues highs.
This contract still looks bullish.
Obviously not a top yet.
Live Cattle tipping will never die...
hope it stays up, have some calves to sell next month or two.
June LC had trouble holding (Monday and Tuesday) (5/13-5/14) at the 74.70 area.
Put options are building premium.
Time for a pause in the most recent bull run.
Let's see how Wednesday's action goes.
selling june LC 75 call options at 50
bought em back at 40.
The market isn't breaking down. Now watch tomorrow the market will break down ... oh well.
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