Aug Feeder Cattle.

[criveratrading]

board is dead. feeders and live higher. so boring price actoin

 

[joeallen]

down is the only 'good' action?

 

[criveratrading]

for a biased bear like me haha yeah

 

[traderaaa]

Sort of surprised by the strength today. I still think we can rally and retest 116 on FCQ and still have a top put in.

FC/LC spread is still correcting and I think that could persist for quite a while.

 

[ProfLogic]

Quote from traderaaa:

Sort of surprised by the strength today. I still think we can rally and retest 116 on FCQ and still have a top put in.

FC/LC spread is still correcting and I think that could persist for quite a while.

The testing targets are 117.500, 117.600 & 117.925. If those are breached then watch for 119.750. The bottom at 112.925 isn't confimed yet either.

 

[traderaaa]

Quote from ProfLogic:

The testing targets are 117.500, 117.600 & 117.925. If those are breached then watch for 119.750. The bottom at 112.925 isn't confimed yet either.

I'm thinking we test the level where we gapped lower, which is 115.60, but the prior high could also come into play.

 

[ProfLogic]

Quote from traderaaa:

I'm thinking we test the level where we gapped lower, which is 115.60, but the prior high could also come into play.

You're correct, the gap plays out first. 116.000

 

[criveratrading]

guess i should have followed the sequentials in corn more closely. see attached sell setup for dec corn. guess we're in for a pullback in grains which could boost feeders... hmm.

 

[joeallen]

The sequential only got to 8.

 

[joeallen]

whoops, yesterday was 9.