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Thanksgiving Friday Look back Meat move, bounce


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Thanksgiving Friday

Bigger picture- Hogs and Cattle finished very fast vertical down moves. A few days ago I labeled a little panic and chaos programs at support levels, 117 LCZ, 149.50-ish FCF of which 3 tight levels, which are rare but the patterns can be detected. During the down stroke pattern in tow I advise staying out of the way, at least until pattern posts a default diamond on the charts Walsh provides. At least then you have a fighting chance in my opinion to catch a bounce with .55cent stops in meats.

I think that is only way to bet and stay fresh, for the cost of a tick commission. Sure tight stops, to some might think outlandish, but I will explain in next webinar that this was only way I would play after getting burned so bad it can shake a trader's foundation when a bad one, turns out of control.

This is why I always will suggest a stop so a client can remain fresh in markets that do 1st-time-ever'$ regularly. Options traders always take those bets.

Soybean bumper crop and we are back up $1.00 off my original June post Pre-USDA 1st half spike down, now $10.10 again. Watch this $10.10. level if playing beans now. Pattern was like hogs and cattle. Lumber not yet.

Stress is guided, can trade 2-4% two-day swings if you want. I follow the DNA of price action and throw out the (rear-view mirror) fundamentals that I think I prove later. Remember the cotton & RBOB OLS small sells right into hurricane? Events may be the safest yet scariest time for extremes. Everybody is stuck when these occur in my opinion.

Sign Up Now for next Webinar If you want to talk your market 1st one is free, ok two so get a live update Monday.

Big

British Pound 1.22 OLB when Brexit UK Pound was suggested 1.10 by TV talking heads which I explain as hype? Like $29 crude going to $20. These are mental mind - - - - -.

Those are the only times that I have found to big move trade, for two years.

That trading knowledge was hard tuition which Jesse Livermore said you could never determine.

Thats where methodology was developed, always looking for how I will get doinked. Make that trade at an extreme and have your broker put a well located tight stop. This is all mathematical stop searching that provide value plays ahead of time when they catch. Are you working crude a few bucks higher?

Extremes happen weekly in momentum driven markets if your patient. They can be long or short term or both of which some grains have now on the support side. Long term inflation bottoms, in which producers may look at back months as sales but I beg to differ. Money managers dont care about paying up in back months, a puny 20 or 30 cents to get long for next few years.

Inflation is only way out. Income inequality at new highs weekly as a few guys rule the (trading) world with their apples.

Big markets from bonds 2.74%-2.77% low lately, 2.65% last bulge and 2.08% all time low last year. Do you see that pattern? Too much else to say so just give a fast call Soybeans, soymeal today, beanoil leaking now, wheat puke. Where are we?

Have a prosperous day,

Alan Palmer

Specializing in providing timely technical advice to the AG business community. Contact me for a free outlook in your specific product.

arp@WalshTrading.com

312.957.8248

Sr. Strategist

Toll Free: 1 888 391 7894

Direct: 1 312 957 8248

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arp@walshtrading.com

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About the author


Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group.

Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen.

He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques.

Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago.

Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com

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