What’s Up, What’s Down: Spotlight on Meats
Comments for October 21, 2011
Looking ahead to Friday by reflecting back on Thursday’s Trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
WATCH THE TWO GAPS IN CATTLE FUTURES
MEATS: 10/21/11 Lower closes yesterday for live and feeder cattle along with lean hogs again. Although I continue to have buy signals for the live and feeder cattle it should be noted that both have TWO GAPS below and, as I have stated many times before, the meats and grains in my opinion, fill most of these gaps! Also the December cattle contract has been making higher highs and lows since the beginning of September while now in a support area. The November feeders have been trending higher since the latter part of August which is also good especially when I eventually get a sell signal it could prove significant for the cattle and feeders with those gaps below. Also, the feeders look toppy at this time. Hogs settled slightly lower and mid-range after having a huge trading range but still the most bullish of the meat complex in my opinion. BUY SIGNALS FOR LIVE AND FEEDER CATTLE ALONG WITH LEAN HOGS. CALL FOR DETAILS!
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at email@example.com or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.