I use zero fundamentals.
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Live Cattle - Top ?
- Thread starter syswizard
- Start date
I use zero fundamentals.
Nothing has changed, still short them cows(original Shorts Live Cattle/Feeders at top-4/5 add-ons, taken off half positions at $4800/$5000) and long them piggies. Still have much more for the Meats to Tumble before I can think of reversing and Hogs much higher till reversal. Long term trading is as boring as it gets, but instead of spending time on the next day trading system, I spend it now divided between more signals for both Long term commodities and Stock/Etf/futures Options. Both Long term is very profitable, but it is very much like fishing, pull it in some then let it out to tire then pull in much more then let it out....and takes long time.
Sold Live Aug Cattle and Aug Feeder Cattle today and hedged.
Sold Live Aug Cattle and Aug Feeder Cattle today and hedged.
Will take off half at 108.25 in LC, looking for April 22 lows to be broken and FC take off half at 139.30, looking for lows of April 29 to be broken. System expects little rise here. Long way down to wherever bottom might happen. LC has been very good market to do lite day trading.
Will take off half at 108.25 in LC, looking for April 22 lows to be broken and FC take off half at 139.30, looking for lows of April 29 to be broken. System expects little rise here. Long way down to wherever bottom might happen. LC has been very good market to do lite day trading.
I don't do too many dumb mistakes but over rode automation, should'a could'a hedged open profits, ROFLMAO. If live cattle goes up goes bit more than buck, be stopped out and Feeders I will just put on hedges to remain short. Pattern at lows showed small retrace then making new lows percentages for me.
June 6th got stopped out enough to cover fees in Live Cattle then watched it drop 4 bucks, this was trade from May 10th, am still short from higher up signals. Still short Aug Feeders from May 10th and have breakeven stops put in after first fifteen minutes if there is a gap, if no gap, stops placed asap.
Yep, could'a, should'a...but have to trade with the averages. Still Long Live Hogs from Dec 17, April 25, May 23, have had trades in between of small losses and breakevens, and on original entry of Dec 17, took profit on half for $4800 each lot. Earliest can consider reversing as above 111. Have had five trades of hedging open profits and credit spreads and done well.
Yep, could'a, should'a...but have to trade with the averages. Still Long Live Hogs from Dec 17, April 25, May 23, have had trades in between of small losses and breakevens, and on original entry of Dec 17, took profit on half for $4800 each lot. Earliest can consider reversing as above 111. Have had five trades of hedging open profits and credit spreads and done well.
Will take off half at 108.25 in LC, looking for April 22 lows to be broken and FC take off half at 139.30, looking for lows of April 29 to be broken. System expects little rise here. Long way down to wherever bottom might happen. LC has been very good market to do lite day trading.
Took profit on half position in Feeder Cattle for tidy profit of $5800 from May 10th short. Waiting for Live Hogs, May 23rd entry, target 90.70, got close yesterday...
Yea, am sure glad I bought the Aug Live Hogs yesterday at 83.10 debit hedged Aug 82/80, already stopped out of the Bacon animals minus $800, closed out the short Puts 80 minus $160 and keeping long 82 Puts. This happens a great deal in my way of trading., but still have other positions working from earlier trades in oink oink and rollovered.
Yea, am sure glad I bought the Aug Live Hogs yesterday at 83.10 debit hedged Aug 82/80, already stopped out of the Bacon animals minus $800, closed out the short Puts 80 minus $160 and keeping long 82 Puts. This happens a great deal in my way of trading., but still have other positions working from earlier trades in oink oink and rollovered.
Exited Aug Live Hog 82 Puts at 4.35 ave for $1080 minus losses for net profit $120
That was fun, so that was a reverse Buying Aug Live Hogs hedged again and on and on and on.
About a month ago, I was looking for a bottom in Live Cattle but it looks pretty obvious that this market is going to continue lower.
I am still short Live Cattle and Feeders added more in Aug 3 area, I keep buying Lean Hogs, hedging keeps me from having too much of losses. Earliest I can buy Live Cattle is 102 but am thinking it might break May 2011 lows, and Feeders needs to get to 125.45 might go down lower June 2011. So am staying short Beef and long oink oink.