Meats Remain Vulnerable
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
June lean hogs
(
LHM2 |
Quote |
Chart |
News |
PowerRating) look poised to continue their downtrend out of an
inverted cup and handle.
June June live cattle
(
LCM2 |
Quote |
Chart |
News |
PowerRating) and August feeders
(
FCQ2 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still look poised to continue their downtrend out of a pullback.
Follow Up
The dollar, mentioned recently, continues to get creamed. If you took any
trades in the inverse currencies, you might look to continue to scale out.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!