NoDak, are you refering to the hagopian off of the "what if" fork that projects $4.20ish in KC Wheat? I have been a bit uncertain on the "what if" forks. Is it really a fork you can draw a hagopian off of if it's not actually the real fork that will be what things are based off of in the future? I think it's something I have not thought about enough and as you bring it up, I think you're likely right. Regardless, I would be surprised if we go straight down there. I guess my bias for awhile has been that we will need to bounce from the 2009 lows before being able to go through them. I don't think that would be inconsistent with meeting your hagopian projection if it all goes that way. I just have a hard time believing we have enough energy to go all the way from $5.80 to $4.20 in one shot. I hope we do though because I want to get the misery over with:) |