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| Obviously, the close will be important today. If everything does trade. I can tell there is some shock out there as my good $$$fund mgr friend (who advised me to remain in the market & then himself got cold feet and lightened up) is very busy this morning trying to get a grip on how many others have also sold out...while the buy rumor & sell fact works in a lot of cases...this is not an atmosphere in which to be short anything yet....I think this confirmation of seedings and the entire outlook may well bring in some importers and is the thing to watch in my opinion. A few years ago, I told a friend of mine, only one I have, that this crude oil was going to go higher until these "soccer moms" quit buying SUV's to transport the children to school. A very simplistic answer, but was trying to make a point. We may well be entering a price structure whereby the market is going to force liquidation in hogs, cattle & poultry...as some of this demand has to be shut off. | |
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