Live Cattle - Top ?

OTCkrak · Aug 15, 2014

160 was an epic short level (and I missed it).. at this point IDK

syswizard · Aug 16, 2014

OTCkrak said:
160 was an epic short level (and I missed it).. at this point IDK

Omigosh....it sure was. Classic double top. But who knows, if world wide economies begin to rebound due to more central bank stimulus, this could end-up as a triple top ! However, I don't see that happening for more 6 months or longer ....
At this point, the supply side has been measured pretty accurately. It's the DEMAND side that remains murky.

Money Trust · Aug 18, 2014

From my analysis, it'll rise to 149.5 again and sell off again. Besides, this small rally has been on half the volume of the sell off, so the sellers are clearly in control.

syswizard · Aug 19, 2014

re: 149.50: CLOSE, very close. It hit 149.25 and then sold off pretty hard. Now down to 147....October.

thefuturestrader · Aug 20, 2014

Close to limit down on the live and feeder cattle today. Friday's Commitment of Traders shows more funds getting out of long live cattle positions.

syswizard · Aug 20, 2014

thefuturestrader said:
Close to limit down on the live and feeder cattle today. Friday's Commitment of Traders shows more funds getting out of long live cattle positions.

Oh wow....quite a route !! $144 is the low for October.

Maverick74 · Aug 20, 2014

syswizard said:
Exactly....shorting now is much riskier than 15 points ago. We are due for a bounce.

Maverick74 said:
I disagree. I actually think for the first time, this market looks shortable. I don't track this market so I have no conviction on the call, but from a distance, it looks good here. If it does bounce, I would NOT short it and would change my view back to neutral.

Money Trust · Aug 20, 2014

I got in at the close of yesterday. I was tempted to cover today but I'm gonna hold to see if it goes to my intended price target.

Maverick74 · Aug 20, 2014

Money Trust said:
I got in at the close of yesterday. I was tempted to cover today but I'm gonna hold to see if it goes to my intended price target.

Nice work. Glad someone on this thread is trading it.

Money Trust · Aug 20, 2014

Maverick74 said:
Nice work. Glad someone on this thread is trading it.

I missed the first bear swing after timing it perfectly, I wasn't missing this one.