http://www.guardian.co.uk/Print/0,3858,4466121,00.html http://www.futuresource.com/charts/...E&r=&STUDY0=&STUDY1=&bardensity=HIGH&period=D Now that's a trade
my friend and I were watching it, and saw the signal when it made the Ross Hook in Sep. However, my rules (and account!) forbid me to play it untill next year. Notice the decrease in open interest in October... in my book, it's a bullish sign... however, the price rose so much... who knows.... Cheers!!
Surprisingly good fills in that cocoa ring, but last time I traded it back in April, they were still recovering from 9/11 and fill reports were taking forever.
I saw a big flyer being posted around my brother's very liberal university a year ago about how low prices in the cocoa market were oppressing cocoa farmers in Africa. Of course this was right next to a flyer advertising a lecture by a transvestite professor on trans-gender issues so I guess I didn't give it much value. Now I think I've found a great indicator. I'll call it the LACI, liberal arts conversation indicator. When some cause makes its way around the pseudo intellectual circles then it is time to buy. Who knows those bums might be good for something afterall. Hey pass the cafe mocha latte frapachino ...
Sorry, I've just said something stupid. The decrease in open interest is 'bullish' only if price is trading in a range. (maybe this is stupid too !! ) ... my bad... Cheers!!
...but I can't believe I'm looking at a cocoa thread where the Ivory Coast isn't even mentioned once. This West African nation is the world's #1 producer of cocoa, and was thrown into absolute chaos 3 weeks ago by Islamic rebels. As you know, Islamaniacs have the reverse midas touch- everything they touch turns to shit. Pretty bullish for cocoa. ______________ http://home.mweb.co.za/sa/savimbi/news.htm The army uprising, which began on September 19, shows no sign of abating and all-out war seems the only option left. The rebels, who control the Muslim-dominated north, are bent on toppling Gbagbo, whose regime they say fosters a policy of discrimination against them. Ivory Coast's state television on Sunday said the "key to victory" against rebel soldiers who have overrun half the country lay in expelling immigrants from neighbouring Burkina Faso. "According to a 1998 census, Burkinabes represent 50 percent of foreigners living in Ivory Coast with 2.3 million individuals," the journalist said. Ivory Coast has blamed a regional "rogue state" for the military uprising which has effectively split the country into Muslim-dominated north and Christian-dominated south. An Ivorian daily has directly fingered neighbouring Burkina Faso, a charge Ouagadougou denies. Several shanty towns in Abidjan housing immigrants have been torched since the uprising began.
lol, take a look at the cocoa chart in Andrew Tobias's book, and the story starts off almost word for word like your post.