Cotton, since late 2014 going long many stabs, hoping March 2016 lows hold, maybe this one finally pays off for very long term trading.
No smugness.... came off wrong. To answer the question ... its not going up too much farther. Based on the (100%) knowledge that people who make their living trading this stuff were on top of it long before we were.
It's awfully thin and the bid/ask is gappy...it'll swell up to five ticks or more. It tightens up but still makes trading a bit sloppy. Even with the price jump from Irma FCOJ prices have been much higher.
Hmm... Better hope for >= 50 m/ph winds.... How powerful are the winds of Irma? PS I am eyeing this thread today....
Closed also the short front month cotton spread@ 1.7. Bad R/R. It was a good trade at inception but couldn't predict Irma would be that strong...Still profitable though
Just exited at the open @ 154.7. Irma seems mellower than I thought and the front spread went straight down at the open. You can laugh at me if it goes to 160 + today...LOL