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Buxton ND | First off LEJ had 105k of OI with 16k of volume so its far from a thinly trader market like MPL wheat or feeder cattle. With 106k and 16k sell stops of 25-50-100 contracts are not a big deal.
I can agree with JP some points other then this,
"but there is nothing new and unusual"
Hogs dropping nearly $2.00 in 5 seconds must of which happened in 1 second is ANYTHING but "nothing new and unusual" Point and case would be the buzz word in hogs was "what just happened to hogs ?" And this from some 30 plus year market veterans. I could very easily say its NEVER happened before. I would challenge JP to come up with a hog chart that says other wise ?
Piggy's higher again today,,,,,,,,,,,,, ahhhhhhhhhh darnnnnnnnnn, I guess there were buyers under the market image that. A matter of fact there were so many buyers it gaping a little higher this morning again,,, IMAGE THAT. Every hear the old saying before a market goes higher its going to trade lower and blow out the weak stops FIRST,,,,, THEN higher. THIS is nothing new and unusual as Mr. Market has done this for decades.
Johnny IDK what the action would be but I called CFTC this morning. Normal is to leave a message and you never hear back. A grunt is not important to them tho maybe some of those grunt-piggy check off dollars would be good idea to check this out ? ? ? | |
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Tick Tock Tick Piggy's
