Does anyone think cotton has bottomed? From 220 it has dropped about 55% to the current 100, it has been there for about 3 weeks. Anyone think it's a great buy?
Could grind in here for a bit, esp with poor equity market as cotton reflects retail clothing......but the longer term inflation trade is attractive. I did add a starter position this week but plan on being patient.
USDA report bearish yesterday. Another commentary I read said that although the Texas crop may be smaller, the global demand trend is weak. I sold half my position a week ago on the rally over $1.00. Should have sold it all. Will look to sell this next rally. Futures were higher overnight.
Art, you still selling this rally thinking it dips back down?
After I posted last week cotton looks to have made a nice double bottom, with a solid rally Friday and up again today. So I think I will keep my March cotton position and see where this thing goes. Maybe put a stop in and if I get stopped out thats OK. This isn't the market I keep up with. SilverWealth is trading cotton over in Palin's corner.
@SilverWealth, are you looking to hold cotton or sell this rally for a quick profit?
Sold BAL yesterday then rebought lows today on gap down, now selling into strength.
I think this trade goes quite a bit higher and there is no telling.
Granny is pretty much naked again having sold her underwear and girdle now. Look out Jimmy Rogers! Granny is hot on this single man's tail.
DBA and RJA in nice gap down sale today. Its all relative I guess. Who knows?