Sorry the SELL STOP LIMIT is at price 74.55 as is shown in chart. Thanks
I called the 'seasonality' correction last week as I was presenting for the Society of Technical Analysts at their annual Summer party & awards evening! A day or so after my presentation and a massive one day 25% correction! The Lean Hogs seasonality play is one of my annual favourites! The question is this year - has it got any southerly legs left after that...
Waiting for the peak for a while - although the pork associations and sponsored publications are claiming that we'll have a long rally - I don't believe that. For the rest of the year should concentrate on shorts.
The foundation is in place for a potential inverse head and shoulder pattern. Ideally price penetrates the neckline/.5 yearly fib to take out that June 2016 high (89.90) before selling off to close below this area with some sort of deceleration/reversal candle. This would form a higher high that could then send us down to form a right shoulder near that major...
I try to follow the meat complex but get distracted by other markets. Hogs and Cattle, since November were apparently the markets to follow and, for some reason, I haven't tracked them. Hogs have made an incredible run since mid November and could be at a pause point. How they open this coming week should add clarity if there is more to the correction underway...
Does not look good to me. I see prices falling here into the 60´s.
What an extremely sharp move after a crossover deep below overbought range, right before a huge day on 1-30-15. I wish I could say that I rode this all the way up to it's top but I had a nice little profit at 10.875 and exited when it leveled off after it's strong open just over 11.000. Looking at it now, a trailing stop using the last 14 days Average True Range,...