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This is a discussion on Feeder Cattle within the Livestock forums, part of the Commodities category; Originally Posted by bgold Front months FC and LH limit down? Apparently on no real news and that's bearish (talking ...

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Old Jul 26, 2004, 11:21am   #17
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Join Date: Dec 2002
Location: SW London
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Quote:
Originally Posted by bgold
Front months FC and LH limit down? Apparently on no real news and that's bearish (talking book ) I understand from broker that it is liquidation by Commodity Funds.

Rising window at 108.8 in FCQ has been closed. Bearish sign. Market expect to open lower. Any bounce is an opportunity for the bears to open/add shorts on a retracement of part decline of past 2 days. This correction (if not new downtrend) could go a long way but hey this is a meat contract and stranger things have happened in that pit. So watch out.
Stopped out at a 0.10 loss when during vacation FC gapped up. Rookie error not taking healthy gain but being greedy. Too bad. Another lesson learnt.
Now long at 113.25 Target: 125'ish (perhaps a bit optimistic); Stop at B/E

If FCQ fails to rally, this could again be a great sale as it looks like triple top & RSI displays neg divergence. Keep an eye on the Feeders!
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