Discussion in 'Ag Futures' started by increasenow, Mar 9, 2010.
Sugar hits 7 month low-what is going on?--can it go lower?where does it stop?
It can and eventually will go much lower. Look at a chart that goes back further than 6 mos.
That took about 4 months longer than I imagined it would. I guess it's true that (many) tops are a process and bottoms are an event.
The all-too-recent/common parabolic blowoff tops of 2008 (most ags, bonds, etc.) gave me a slight recency-bias in regards to the SB terminal crack-rush. There were some good calls made by some of the characters around here though, i.e. Shagi and Saliva. Good going guys. I'd like to see a nail driven into the SB coffin during June for a nice confirm of big-trend death.
today...an even newer low...does it hit 17.00?
TA gave you the sell/short signal. Fundamentally there's currently increased supply from the Brazilian harvest filtering through,
and anticipation of an average monsoon in India after last years failure.
I remember wheat prices surging to over 1200 a bushel a couple of years ago, during that time prices of everything containing wheat of course surged, fast forward to today, wheat is down over 50% from it's highs but prices of bread, bagels and pizza, etc still remain the same.
I have noticed many commodities getting there turn at these huge big increases like cotton, wheat over the last 2 years only to drop significantly later on.
As for sugar, who knows how low it goes, they are trying to pass a soda tax and pepsi just announced it's pulling it's line of sodas from schools, how much impact this has on the price of sugar I really don't know but I'm sure people are reading between the lines.
Sugar is a white refined poison. Soon we will all be green tree huggers and teach our children how a previous generation made their kids teeth fall out.
Eventually sugar dealers will be jailed. This is the mother of all sugar bear markets. Sell your homes and short sugar.
Long live the New World Order.
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