March 23 1998
"Among the hazards of speculation the happening of the unexpected -I
might even say the
unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--"
Reminiscences of a Stock operator.
THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF
THE AUTHOR, EXCEPT WHERE OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN
PERMISSION IS. REQUIRED PRIOR TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES
TRADING IS RISKY AND CAN CAUSE SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS
AND OPTION TRADING INVOLVES A HIGH DEGREE OF RISK. THE USE OF STOPS MAY
NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS
RISKY THAN OUTRIGHT FUTURES POSITIONS. PAST RESULTS ARE NOT NECESSARILY
INDICATIVE OF FUTURE RESULTS. SOURCES ARE BELIEVED TO BE RELIABLE BUT NO
ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK DISCLOSURE IS AVAILABLE.
Traders who are long June and Short Oct Hogs should exit the
trade on the open
Tuesday March 24 ... The close today was 627 pts over
Put the orders in at just under unchanged to begin with and take 600 or more if able.
For those traders who were not able or declined to enter the trade because it did not suit their fancy should be take notice that on a margin of approx. 350 -500 US Dollars the gain at 627pts June over July is 337.5 pts or $ 1350 on margin of $ 350 to $ 500.
I love it when most think I am Nuts.. When FuturesCom was recommending these trades your news wires and so on did not have the gumption to take a stand and say enough is enough !I know that there will be times that FuturesCom will be wrong ! When that happens just take the loss and get on with it !
Premier Subscribers who took advantage of long June Short July at 25 pts June over July or less should exit at 125 or better. That's about 100 percent on margin not including fees..
Really savvy traders who managed to Buy May Bellies at a 50 to 75 premium or less over July should hold for now.. the settlement was at 135 over.. add at 50 to 75 pts if able.. however if you can get them off at 175 to 200 over take it.
Traders who are long June Hogs from the Special Report should exit the longs at 6005 if able Tommorow only.
Original BI-Weekly traders should exit April hogs at unchanged on 1/2 ...you can almost see the whites in their eyes..so to speak... also exit all spread in Hogs as directed above on open or 600 or better..
All traders should stay tuned and be ready and willing to buy dips in all the above mkt. And Buy all means when exiting if you a tick away or so who cares !
Commercial Interests Should start Hedging 25 percent at current levels.
I hope everyone had a great weekend , and of course call me if you need help.
Copyright 1998 FuturesCom Investment Publications
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