Hogs Still Smokin’
Marc Dupee will be out of the
office until October 9. In his absence, this column will be written by
TradersWire’s Duke Heberlein.
October lean hogs
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PowerRating)Â from the Momentum-5
List continue to head higher, posting a gain of .50, to trade up to
58.125 in Friday’s morning session. Traders will most likely be on guard for
additional follow through to signal continuation, or possibly waiting for the
next pullback. Live cattle
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68.925. This has it coming out of a low-volatility setup, as it is on the 6/100
Low Volatility List.
The Canadian dollar
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PowerRating), off
the Implosion-5
List, looks as if it is following through in its fall out of a pullback from
lows, dropping an additional .0028 to .6648, violating a prior level of support
in the process.
In a fundamental note, energies are higher
across the board in Friday’s trading, despite Saudi Arabia’s claim that they
will not need a great deal of time to increase production and stabilize prices.
This could mean that the market is, in actuality, stronger than most would
believe, as traders have reported short-covering around the area of 30.60 per
barrell in crude oil
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plays out.