Thank God Rogers is now pumping sugar again http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/v7.RdqBBBLo0.asf
Maybe when the non-financial press gets in on the news it'll be a real top? The thing about these raging commodities is they can travel vast distances higher in a very short time and it seems *very* hard to find a top. Anyone here have experience trading backspreads?
Heh-heh, fuckin' Bloomberg. Going the way of CNN. Much of their data is shiite and their reporters continue to make asses of themselves. By all means purchase a terminal at ridiculous prices and with a long-term contract.
For a moment I thought the bubble would deflate, but the London boys are back in action right on time :eek:
Well, yesterday I was searching for the info on sugar and found a couple of links concerning Indian weather which, to my understanding, is the reason that moves sugar prices higher. So there are two links where we can see that the rains become increasing and on this week there should be enough rain for cane to mature. http://www.imd.gov.in/section/nhac/dynamic/allindianewct.htm http://www.wunderground.com/global/Region/i_IN/pxHumidity.html?MR=1 However, on the Brazil side there are too much rain in the same time. So, this is just a guess, but might we see a temporary decrease in price for sugar basing on the "good" Indian weather? And then, after we see that a lot of crop is destructed by heavy rain (like in Brazil) - another rally starting in the 2-3 weeks from now?.. I was going to initiate a spread H0/V9 on sugar on London open, but the trade system showed me a strange error so I have to wait US support to wake up..
too bad you could not have drawn that chart with the same lines last OCTober ... and sold it to John Henry heck ... he probably reached the same conclusions back then when his Red Sox were doing better in the standings