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Greetings Leonard,
I appreciate the vote of confidence, but let me just say that I hope you are
not taking my posts as advice to buy or sell, but are using it and others to
confirm your own work.
My posts serve several functions. They are meant to teach, to draw attention
to a prospective market opportunity, and to expose a trading methodology
that I completely believe in.
The last thing I want it to be used for as direct advice to buy or sell any
market.
I'm glad that the article drew your attention, but I did catch the part
about the newsletter and kind of cringed a bit. I like to read newsletters
as well, mostly to see how well others are doing. At times they help to
'confirm', makes you nice and warm inside. But I definitely will not let one
change my mind once I've done my own homework, nor take its advice at face
value.
If I start to doubt my results based on something I read, it means I need to
take a break on that market till I'm positive.
Yes, Hogs took their nosedive as mentioned it would a couple weeks ago, and
Feeders did find support at 76.40, holding off all attacks later on. I did
good on this. But being fallible like most humans I may miss one. Would you
have been ready for that?
Commodities are highly speculative, but what isn't? If you are going to
trade any speculative market, might as well put leverage and seasonality on
your side.
Glad you trade the aggies and now the meats. Hope to hear many more
successes on futures trading here.
cheers!
:)
rick
****************************************************
FutureSoft Publishing - Precision Trading
http://FSoftPublishing.com
****************************************************
-----Original Message-----
From: LEONARD CORDELL <cordellm@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>;
ricrat@xxxxxxxxxxxxxxxxxxx <ricrat@xxxxxxxxxxxxxxxxxxx>
Date: Sunday, October 19, 1997 6:40 AM
Subject: RE: Anyone Paying Attention? hogs and cattle
>
>
>----------
>From: owner-realtraders@xxxxxxxxxxxxxx on behalf of Rick Ratchford
>Sent: Thursday, October 09, 1997 3:41 PM
>To: RealTraders Discussion Group
>Subject: gen:Anyone Paying Attention?
>
> I'm just curious if anyone is paying any attention to these futures market
>forecasts. Back when Hogs were up around the 6400-6500 area a week or so
>ago, I posted here that we would see it go down to 6182 for this week.
>
>Since I have only heard from one person who asked me, 'didn't you forecast
>that hogs would go down to 6185 back when it was up around 6500-6600?',
I've
>been wondering if the rest of the world missed that one.
>
>I believe I said 6182 in that post, but I'm sure no one would hold it
>against me that I'm 3 points off, for today's low in hogs stopped at 6185
>and closed above 6200 by a couple ticks or so.
>
>
>I sure hope that some of you have been paying attention if you are
commodity
>traders and are looking for a possible good trade. I've been riding hogs
>down all last week and part of this week since the last Fdate. I'm
expecting
>the price of hogs to go up some from here.
>
>Also, there is the Feeder Cattle market of the week. Anyone making any
money
>on this? Our Fdate bottom was only breached by 2 ticks and has run up over
>100 points! With these free Fdate trades, I hope you're making some money
on
>them and not just letting it go into one ear and out the other. You've been
>getting these for free.
>
>Same with Corn. There was the post about the Corn Explosion when it broke
>out by 3 cents on the upside after making the FDate bottom last week. It
has
>shot to the moon. Don't suggest going long where it is right now, of
course,
>but sure hope you are taking advantage there too.
>
>
>Now, back to hogs. You are being given a reprieve. If you have been falling
>asleep (hog traders only) to the forecasts posted here, even if you don't
>believe they would happen you should at least watch them, wake up!!! It is
>still at the bottom here and may provide you with an opportunity to go
long.
>
>I'm sorry to rag here, but then maybe nobody is noticing that either. <g>
>
>cheers!
>:)
>rick
>
>
>*****
>FutureSoft Publishing - Precision Trading
> >>>>> http://FSoftPublishing.com <<<<<
>*****
>Although I have little faith in charts or systems, your message helped me
>decide to take the plunge on hogs and cattle. I bought 2 Jul 98 hogs and 2
>June 98 cattle at 63.9 and 69.1.
>I have been trading commodities for 2 years. Always made money on corn,
wheat
>and soybeans, but lost most of it on precious metals. Just made $1,400 in
3
>days on 1 Dec 98 corn and 2 May 98 soymeal. Would have made anothe $5,000
if
>I had stayed in, but was influenced by a Newsletter recommending shorting
Soy
>just before prices shot up.
>My philosophy is, commodities are highly speculative, but since I believe
that
>severe inflation is coming, there is a slight edge to prices going higher
than
>anticipated. Possibility of El Nino effect on crops also gives a slight
edge.
>I have also bought 2 May 98 Orange Juice.
>Len Cordell
>
>
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