I watch the orderbook frequently and the big boys have been buying june nad selling july HEAVILY the past month or two, they have taken it from a 4.00 to a 2.00 or less difference. That is a very handsome profit, the next move will be to cover those and roll to another month, my gut suys july/aug but im not sure we will see. but i do agree with you on june, take a look at the pig index it's pretty out of whack imo
Youngtrader's Commodity Journal
- Thread starter youngtrader
- Start date
Rtrader2525
Interesting man, you are master of the hogs
We will just have to see how it plays out. I think im going to try to get short some piggies tomorrow around today's close.
I want to get long ZN on a break above 116.18 I just feel that this market is not through yet and should still keep a decent bid until summertime.
A break above 1398 and im interested in getting long es. Im not interested in shorting it until we break through that trendline.
I like shorting gold with a break below 907.30
As for the june hogs I would like to short em around 74 or better but I doubt I can get that to happen. We will just have to see how things work out today.
Good Trading Guys
A break above 1398 and im interested in getting long es. Im not interested in shorting it until we break through that trendline.
I like shorting gold with a break below 907.30
As for the june hogs I would like to short em around 74 or better but I doubt I can get that to happen. We will just have to see how things work out today.
Good Trading Guys
Sorry for not getting back to you guys yesterday. Im heading to Chicago Friday and just had to spend some time getting things in order (im always way too busy when I go there).
I did manage to sell 5 contracts of june hogs yesterday at the high of 74......im not always that lucky at guessing the high!
Hogs continue to stay supported due to cash hog bids from packers remaining fairly stable but I have got to think with packers starting to run in the red again and with a bearish cold storage report they are going to start pulling their bids for these hogs. Not to mention june is a premium to the cme hog index.
I also sold 5 contracts of june cattle at 92. This was just a last minute deal but they looked good for a short.
Good resistance around 93 in those cattle. From what I have heard from cattle traders is that boxed beef continues to gain ground but there hasn't really been much for cash trade so locals have been basically just fading rallies. Until there is some cash trade going on these cattle will not be supported because of the simple fact that packers must not think boxed beef values can go much higher.
Es tanked yesterday and I should of been short that thing. I went to bed the night before knowing I should of shorted the shit out of it. It just felt funny you know? If I was short though I would have covered by now because that trendline is coming up and anything could happen there. A break below that trendline and im looking to get short. If we can't break that level then I look to get long.
Nothing doing in gold yet but im patiently waiting
Good Trading
I did manage to sell 5 contracts of june hogs yesterday at the high of 74......im not always that lucky at guessing the high!
Hogs continue to stay supported due to cash hog bids from packers remaining fairly stable but I have got to think with packers starting to run in the red again and with a bearish cold storage report they are going to start pulling their bids for these hogs. Not to mention june is a premium to the cme hog index.
I also sold 5 contracts of june cattle at 92. This was just a last minute deal but they looked good for a short.
Good resistance around 93 in those cattle. From what I have heard from cattle traders is that boxed beef continues to gain ground but there hasn't really been much for cash trade so locals have been basically just fading rallies. Until there is some cash trade going on these cattle will not be supported because of the simple fact that packers must not think boxed beef values can go much higher.
Es tanked yesterday and I should of been short that thing. I went to bed the night before knowing I should of shorted the shit out of it. It just felt funny you know? If I was short though I would have covered by now because that trendline is coming up and anything could happen there. A break below that trendline and im looking to get short. If we can't break that level then I look to get long.
Nothing doing in gold yet but im patiently waiting
Good Trading
Stopped out of my hogs at 75. $2000 loss there. I just don't believe these hogs! I actually thought about trying to get short again at 76 right after I got stopped out and looking back I could have got short right at the high again! Watch piggies tank from here lol.
I should of sold more cattle at 93 when given the chance because although they ended like .70 higher it looked fucking weak!!! Cash trade has still not developed yet so im thinking guys are going to start to get a little impatient with it and start dumping longs but im short so im biased lol!
I shorted 2 contracts of gold today at 907.30 (friday's low). Profit target is around 860 here if it can happen.
Thats all for today guys, take it easy
I should of sold more cattle at 93 when given the chance because although they ended like .70 higher it looked fucking weak!!! Cash trade has still not developed yet so im thinking guys are going to start to get a little impatient with it and start dumping longs but im short so im biased lol!
I shorted 2 contracts of gold today at 907.30 (friday's low). Profit target is around 860 here if it can happen.
Thats all for today guys, take it easy
Well guys it was a great trip to Chicago and I learned a bunch. The pits were cool to see (they always are) but I noticed especially in the grain pits that its a bit thin in there now a days. Options pits were really rocking though and so was spooz.
Anyway out of my cattle shorts at 92.50 for $1000 loss. Its been one hell of a way to start up my journal again by being down 3k already in the meats lol!
Gold is working out good though and im still holding on to my 2 shorts at 907.30. Profit target is around 860 here.
Spooz is starting to catch a bid this morning and we are up above 1400. Im just going to wait and see how this plays out but im thinking of getting long here today.
Good Trading Guys
Anyway out of my cattle shorts at 92.50 for $1000 loss. Its been one hell of a way to start up my journal again by being down 3k already in the meats lol!
Gold is working out good though and im still holding on to my 2 shorts at 907.30. Profit target is around 860 here.
Spooz is starting to catch a bid this morning and we are up above 1400. Im just going to wait and see how this plays out but im thinking of getting long here today.
Good Trading Guys
Interesting Journal !!
I heard a news report on the CBC last week that Canadian Pig farmers were going to kill and extra 100K+ pigs this year due to high inventory and some diseases... not sure what diseases though. I can't find the article, but if I do, I'll pass it on... just wondering what effect that'll have going forward.
Gold looks interesting... 860 could be alright. Seasonally, it does well June to Sept.
B
Yeah this seems to be the case across north america. It has you thinking about hog spreads doesn't it? I mean I think selling either july or auggie against oct or dec is a pretty good trade....I might actually put on a few for myself.
Not much went on today. I just was lucky enough to get a few nice scalps in es while at school lol! I still think we head higher but am not convinced enough to hold positions too long in the market.
Im still short my gold at 907.30
Right now just trying to play the short side of corn right now.....nothing big just scalping the market this evening.
Talk to you guys tomorrow.
YT,
The pits are somewhat lame compared to what they were but there's always opportunity from where you're at. From my standpoint, you just need to work on your risk/reward. Maybe a combination of Van Tharp and Ryan xxxxx. Forgot last name. Check it out and keep studying.
Fdax
The pits are somewhat lame compared to what they were but there's always opportunity from where you're at. From my standpoint, you just need to work on your risk/reward. Maybe a combination of Van Tharp and Ryan xxxxx. Forgot last name. Check it out and keep studying.
Fdax
jasonleonard
Yeah those pits aren't even close to what they used to be (except probably options). However I still would give anything in the world to work on that floor. It would be by far the greatest job anybody could ever have.....even if it only pays $500 a week lol!
Yeah your right about the risk. I tend to always take on too many contracts for my account but I am naturally a risk taker and tend to place money on just about anything (not a good habit). However thanks for the recommendations and I definantly will try to work on keeping my risk exposure low.
Im still short gold if anybody cares. Working out pretty good and I expect my profit target to be hit rather quickly.
Also bought 2 10yr notes at 115.16.....Spooz looks weak here and notes look like they could catch a bid around this level. Its an excellent R/R trade actually for anybody looking for a trade idea.
Im debating a few things here but I will keep them to myself until I want to talk about it lol!
Good Trading Guys