This is a sample entry from Brian Cullen’s email newsletter, The Cullen Outlook, published on July 30, 2013.
August FEEDER CATTLE
The market seems to be slowing down up here and we are sitting right at the 50% retracement form the high of the 164.00 level in January and the low of 142.00 level in mid-May. We failed to take out the recent high of 154.50 in April. Right above that high will be where my stop order will go. I would like to see the gap around the 150.00 level filled on this potential move lower.
- The RSI looks overbought
- The MACD looks as if it wants to roll over
- Early this morning corn looks poised for a short term rally and this would weigh on the livestock market
SELLING at 153.00 (GTC) …last trade 152.95
Risk will be the 154.75 level …($875.00)
OBJ will be the 150.00 level …$1,500.00
Initial margin for this contract is $2430.00 / $1800.00
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