What’s Up, What’s Down: Spotlight on Meats

Comments for October 11, 2011

Looking ahead to Tuesday by reflecting back on Monday’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 GAPS ON THE CATTLE & FEEDER CATTLE CHARTS

MEATS: 10/11/11 Sharply lower live and feeder cattle along with lean hogs all trading in wide ranges. Although I 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!  Cattle had its worst close in two weeks and are now at the lower end of a critical resistance area while the November feeders made their best close since July 12th!  Sell signals could prove significant with those gaps below. Also, the feeders have good support below 140. The hogs settled sharply lower and is now at the lower end its resistance area also. BUY SIGNAL FOR LIVE AND FEEDER CATTLE ALONG WITH LEAN HOGS. CALL FOR DETAILS!

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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 ralexander@zaner.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.