Feed Cattle

Today was definitely an interesting day. The market had a gap down open due to news of the Swine Flu. I don't initiate positions on big gaps, so I waited for the market to fill the gap. Then I entered short when the market traded back down through 100.125. Today's closing price was 99.75 confirming the H&S Top pattern. It found support @ the 50% retracement of the recent move up, and both the weekly S1 and S2 pivot points. These areas will be our next obstacles along with the 50 day EMA.