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I did not give you a day to think about the Live Cattle trade I suggested. The research I follow gives indicates this move usually occurs later in the month, but I think it has started a bit earlier. I think that cattle have topped for now.  The risk here should be easy to manage. Go short one February Live Cattle contract at $128.50. Place a stop GTC at $130.8 which is just above the swing high. Your risk will be .2.4 x 400 = $920. The target is the 38.2% retracement at $122.5. This would give a $2,400 profit on the trade.....a 2.5 to 1 return to risk ratio.
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This PageThe Speculation page is used for educational purposes and to talk about current trades we are in. The Pit is where we post new trade recommendations. This is also a blog page where you can ask questions, post your thoughts or ask for help. Be sure to use an anonymous name as you may not want your neighbor knowing what you are up to. Archives
October 2020
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