Discussion in 'Ag Futures' started by GlobalFinancier, May 14, 2006.
Well, I lost some money today being long cotton.
But still bullish, it prolly fell due to gold going crazy .
I might play this move by purchasing a call option.
I researched the fundamentals today and they look good, but not great. I own corn now and that has great fundamentals as long a demand keeps up oversees. I am planning on getting in cotton soon but I am worried that the large funds will keep selling this market short despite the fundamentals.
It broke support etc etc. I exited today for a small loss.
Potential shakeout, if we see a breakout, then I'll re-enter to get into the coming uptrend.
Take a look at the COT, commercials position. I spent a little time in Memphis and the commercials are few in number but very influential in the cash market and use the futures widely.
Shakeout, breakout confirmed. Long.
Cotton is acting weird but still holding nonetheless.
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