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Feeder Cattle Update
The low risk entry at $123 paid off 7 to 1. Will have to see if the "bump" fractal that has shown up in the corrections over and over will play out to 1 more new high to complete the 9th wave. I'd like to see a reversal at about $127 - $128 up to about $133. The play then would be to short this sucker into the strength of a 3 wave correction after a 5 wave fall on a 15 min or so time frame. The top should last for months. Price did touch the 38.2 retracement from $123 so it's possible to go up from here.
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