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Tuesday, August 24, 2010

Is It Time to be Bullish on Cattle?, (part III)

Here is an update on my cattle-call (yuk, yuk)

First post from April 5: Is It Time to be Bullish on Cattle?
-- http://marketthoughtsandanalysis.blogspot.com/2010/04/is-it-time-to-be-bullish-on-cattle.html
-- http://caps.fool.com/Blogs/is-it-time-to-be-bullish-on/366753

I said this:

binve says "Moo" [translation: If it makes a higher low at support ~64-65, then there is an inverted H&S setup that targets ~80, which is also the 38% retrace from the top]..... cows have a very concise language, leaves more time for grazing.

Second post from June 16: Is It Time to be Bullish on Cattle?, (part II)

-- http://marketthoughtsandanalysis.blogspot.com/2010/06/is-it-time-to-be-bullish-on-cattle-part.html
-- http://caps.fool.com/Blogs/is-it-time-to-be-bullish-on/407875

The ETN COW is showing a similar pattern. It somewhat tracks this underlying index (i.e. it is supposed to but doesn't do a very good job all the time).

So, is it now time to be bullish on cattle? binve says "Mrraaa Mrrooooo mo moo Moooo" [translation: yes]

And here is what it looks like today.

So, is it now time to be bullish on cattle? binve says "munch munch chew chew" [translation: Uhhhh, yeah. Where have you been.]

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