Cattle Cattle futures were extremely choppy out of the gate, a common trend over the past few weeks. Wide bids/offers and computers create the extra volatility on the open, which makes the first hour of trade tough to rely on as a barometer of true demand. We continue to believe (along with most everyone else) that there is still upside potential, but the market isn’t making it easy. We have had some clients ask about trading with tight stops, this is not the environment for that. Technicals are all but meaningless right now, which makes finding those points nearly impossible. Our advice, either sit on the sidelines, plan on holding your position for the long game (consider reducing your sizing), or be out before the close, regardless. Early indications are for a steady to slightly lower open......Click this link to get the FULL report, or email Oliver@BlueLineFutures.com Lean Hogs Lean hogs continued to roll over yesterday, finishing limit down, giving us another day of expanded limits today, 4.50. The bears remain in control, but they may want to consider rewarding the market at some point today. Just as we have seen a violent move to the downside, we could see a violent relief rally. Will that rally last? That’s debatable. If you look back over the last year plus, we have continued to see front month hogs grind lower, so we wouldn’t hold our breath for a bottom until we start seeing charts become more constructive......Click this link to get the FULL report, or email Oliver@BlueLineFutures.com
or Email Oliver with questions/comments: Oliver@BlueLineFutures.com
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.