Market Curiosity: Exploring Markets And Systems

May 16, 2011

Looking to short July cocoa (update 2, May 18) -1%

Filed under: -0 to -4%, Futures Trades — Tags: — Jeff Fitzmyers @ 8:20 pm

Short around 2995 ish.
Stop loss 3041 ish.

– Weak volume today
– Weak bounce off trend line.
– Monthly and weekly CCI’s trending down.
+ Daily CCI oversold.
± Setting on a 8 month long trend line.
± Commitment Of Traders is neutral.
– Seasonals suggest a sharp move down, but it seems to be a few days early for that.

May 17:

May 18: Stopped out. MIght have been a mistake to lower the stop loss a bit soon. Will be interesting to see what happens the next few days.

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