Harrington's Sort & Cull
John Harrington DTN Livestock Analyst

Friday 06/13/14

Goodbye Facts and Analysis, Hello Emotion and Dumb Luck
It's critical for both commercial and spec traders to honestly recognize the cattle market seems to be in the process of stepping through the looking glass, stepping beyond conventional assumptions and logic regarding fundamentals, moving outside the traditional rules of technical interpretation.[Read Full Blog Post]
Posted at 3:55PM CDT 06/13/14 by John Harrington | Post a Comment
Comments (1)
John, the charts are working fine. They say there is no upside resistance in cattle, and there is none! But futures were heavily discounted to cash and now they are rallying to where cash is trading, at the end of the delivery period. That is classic convergence. Hogs seem to be taking rather long excursions away from the CME Index, but they do come back at expiration. Don't get me wrong, this thing is eventually going to end ugly. Markets are the most bullish at the top, and it is going to be the technicals that tell us when the foundation is rotten enough for the building to collapse.
Posted by Unknown at 7:31AM CDT 06/27/14
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