I think it's called the money book. It's a story about a bank that went broke trading cocoa on fundamentals. They kept averaging in, (I think they were long) but you ought to see the chart. That market over the years has trended in ways you would swear is just simply not possible. But the fundamentals are always the same, never change, bad weather, political uprising, trouble transporting the harverst, over and over again year after year, and I guess now decade after decade.
Call me crazy but I would be starting to think about shorting cocoa. It looks very bleak on the Ivory Coast and everyone seems to be on one side. Where's a statement of committment when you need it?
How much volume is in this contract? How are the fills? LOL! Since the stock market is acting like it wants to go to ZERO and the daily range on zero will probally be zero, I'm just trying to broaden my horizons! Thanks
I trade commodities with one of the introducing brokers of Refco. I think Lind W was bought by Refco. The phone/email support is very good, I think they have the 'one ring phone call' policy.The commish they offered me is 20$ rt, quite steep if you daytrade. Cheers!!!
You know, one of these days, I'm going to start listening to myself. Cocoa fell from its high of around 2400 to 1900 after a ceasefire was signed with the rebels in the IC. josbarr, that is a cool graph. Where did you get it? It looks homemade. If not, could you please provide source/link. Thanks.