Lean Hogs

Buy1Sell2

Buy1Sell2

October contract continues higher unabated. However, it is beginning the look of a reversal pattern. That reversal pattern is not mature enough to trade yet. 64.70 is the recent reaction low and sales would not be made until that area is breached.
 
b1s2,

I am not sure if you still have this position open, but it seems to me Dec contract is ready to pop up based on macd hist and rsi long grail ? Do you agree?


:)
 
Quote from optionpro007:

b1s2,

I am not sure if you still have this position open, but it seems to me Dec contract is ready to pop up based on macd hist and rsi long grail ? Do you agree?


:)
More...

I never entered short because I felt that I had enough other trades going at the same time. Looks like I would have been right though wouldn't I? In the front month December contract, I do see what you are getting at, but I don't believe it to be strongly bullish. I prefer more space between histogram troughs etc. Market needs to "fester" a bit. So , in summary I believe that the Dec Hoggies are still a short and I would defer to the reaction high of 61.80 or if more passive and less leveraged, I would still use 65.60 as the reaction high. My preference right now would be the 65.60 as I view 61.80 as a weak reaction high and ripe for getting stopped out on a fake-o.

Note:I also prefer RSI grails to have a much sharper point to them rather than the rounded variety that you are suggesting here. I don't view this as a grail.
 
Quote from optionpro007:

b1s2,

I am not sure if you still have this position open, but it seems to me Dec contract is ready to pop up based on macd hist and rsi long grail ? Do you agree?


:)
More...

I'm in long Dec 06 @ 59.60 with a tight stop. This current bottom was a LL in a Bull Trend for me but I have the Holiday spirit for ham and sausage stuffing. I agree the potential for a fake out is there but my risk is minimal.
 
good luck prof. Going against b1s2 is crazy imv.

I have included a Dec Hogs pic for review. One, actually the only reason I have used Metastock since the beginning was because I could see the macd hist well delineated as in the pic. I couldn't find another program that could do that.

Probably "because" I use this accentuated hist I see divergences were others don't see them ? Who knows.
 

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Quote from optionpro007:

good luck prof. Going against b1s2 is crazy imv.

I have included a Dec Hogs pic for review. One, actually the only reason I have used Metastock since the beginning was because I could see the macd hist well delineated as in the pic. I couldn't find another program that could do that.

Probably "because" I use this accentuated hist I see divergences were others don't see them ? Who knows.
More...

Your chart is more bearish looking than mine. I think short is best for now unless 65.60 is violated significantly.
 
Quote from Buy1Sell2:

Your chart is more bearish looking than mine. I think short is best for now unless 65.60 is violated significantly.
More...


I still have much to learn. 65.60 for me is like three trades away..
 
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