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liquidating markets

always take longer to clean up than you'd think.


Nice little bounce in S yesterday and C right before the biscuit break this morning but it looks like they're using it as an opportunity to liquidate more.


Commercials are always scale down buyers as specs liquidate but I'm guessing they're not real interested in heavy buying in territory they've already bought some in.


Ostensible reason for the bounce was some renewed talk of ridginess in some 11-16 day models, and that could very well happen, but having already gotten their heads stuck in the hole after chasing that rabbit it is probably going to have to be a lot closer and surer bet to bail them out.


Maybe we'll get the promised Dry August after all. I hope not but you don't get your druthers in these things.

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