RM's occasional market calls...

Daal said:
What was the reasoning behind the trade and what made such a no-brainer?
More...

I'll have to respectfully decline to go into all that. The way this profession works, edges rapidly disappear as more traders learn about them. I've seen it happen too many times in the past.
 
Rearden Metal said:
I'll have to respectfully decline to go into all that. The way this profession works, edges rapidly disappear as more traders learn about them. I've seen it happen too many times in the past.
More...

I'd say 1851.25 (last price) is a great place to exit.
Dax just flirting with new highs also. As I said, hot potato syndrome soon so not getting greedy.

Well done RM for another cracking call!
 
Low Salubrity Thug said:
What's your target?

105.5 looks like a good place to start scaling out.
More...

Keeping in mind that I scale out in MANY little pieces, I actually had slightly below 107 in mind as my very first exit point- but not more than 15% of the entire position. The 105.5 area is significant though- That's where I plan to scale out of most of it... if I can.
 
toolazy said:
hourly close above 110, I would start sweating.
More...

Impossible today. Daily price limits of 3 cents a pound. 109.85 is the upper limit.

April contract is pigs born last Sep/Oct? So not too much porcine diarrhea losses?

I know nothing about pigshit so won't be trading this one.

Paragraph from George Horace Lorimer's "Letters from a Self Made Merchant" comes to mind:
When I sell futures on ’Change, they’re against hogs that are traveling into dry salt at the rate of one a second, and if the market goes up on me I’ve got the solid meat to deliver. But, if you lose, the only part of the hog which you can deliver is the squeal.

(full text at Gutenberg: http://www.gutenberg.org/files/21959/21959-h/21959-h.htm)

Nowadays, the CME contract is cash settled. Good luck RM.
 
Rearden Metal said:
Keeping in mind that I scale out in MANY little pieces, I actually had slightly below 107 in mind as my very first exit point- but not more than 15% of the entire position. The 105.5 area is significant though- That's where I plan to scale out of most of it... if I can.
More...

You got your orders resting around 107 already? It's such an obvious setup this one that I expect everyone and their dog will be looking to cover around there. Hopefully yours get filled before the bounce.

I think this may eventually get to around 104 but I'd want to only be carrying a small position below 105.5 as things are less predictable down there.

Good luck. Will be interesting to see how this one runs.
 
You must log in or register to reply here.
Back
Top