Here's what I wrote for the Cattle markets over the weekend:

"I'm keeping a close eye on the Meat complex as we are getting a very favourable setup happening in the Cattle sector. Both Feeders and Live Cattle are beginning to consolidate and that is giving us some small bars to trade. I always prefer small bars to big ones as there is less dollar risk amount associated with the trade.

While both markets tend to look bullish right now it's not definite by any means. Long term both markets are in a downtrend, so a move lower is possible. My plan is to wait for the next momentum breakout and then take a trade accordingly. After all, knowing which way the market wants to go is half the battle."

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Talk about a gift for understatement! $1000+ sessions in both Live and Feeder Cattle. I guess we "know" which way the market wants to go now... too bad we can't get on board though!

Thank goodness there's always a next time.

Erich