Lean Cattle. Convincing myself it will go higher.It looks really good to me.
I have an incredible lazy streak. It's possible this only appeals to me so that I can take some action and stop paying attention every day. Obviously, this is not the ideal characterization of a profitable trader, but I'm still doing a good job convincing myself it's a high probability outcome.
Sooner or later I'm going to become clever enough to be useful to myself. But, then you might not like me anymore :(.
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I could also reason one of two things:
1) Price has come down this far : It's a good buy.
2) Price has come down this far: It could go lower.
Unless, there is something like a cow-pox I feel like prices should go higher. I don't think there will be a cow-pox. Just using it as a stand in for 'big-unpredictable-market-specific-catastrophe'.
So door #1 says the .5 level is good enough for me, and I'm thinking it will go back up. In fact, I don't think it will go down, and I think it's a good price possibly for the next full calendar year.
Door #2 says I think it's possible price comes lower, and I think it will come lower.
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I really don't think #2 is the door most people will open. I think the idea that price might not be this low for another entire year would be enough to make any forward thinking meat distributer want to use at least a good portion of there liquidity in the markets over the next few days. Actually this has been happening as evidence from what the consolidation is telling us.
