minx
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Fingers crossed on those charts. Went long yesterday in London at 450.00, we've been going sideways for so long its hard to time it right but I think its looking like we could do another move. I figure just jump in and be there from the start. Also we're having higher lows and MA is squeezing in a little.
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Sugar has rallied nicely in past few days but contango between near and far months is not increasing? I would have expected May or July to trade up more aggresively than say No06 or Mar07?
Can anybody shed light on this? Is this rally suspect? thanks
Can anybody shed light on this? Is this rally suspect? thanks
bgold said:
Just a thought- I am not a sugar trader, but an oil trader.
Perhaps one of the fundamental reasons for the rally in sugar is to be found in the oil market. The US is this year phasing out completely the use of MTBE in gasoline - most refiners will be replacing this with ethanol which is a product distilled from agri commdodities such as sugar and corn. Thus demand for these commodities will rise going forward, and the full effect of this will be felt next year and beyond. Perhaps this explains why the rally you've seen hasnt squeezed the spreads in - it is a "back-end" led rally.
Jack o'Clubs
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interesting you guys have commented on this - I took a position yesterday thinking it had potential. We shall see!
Second Coming of Sugar ?
Hi Bgold - I mentioned it cos I thought strategically it looked interesting so I'm patient for the move ...when it comes...
Jim Rogers got me into the first wave but I bailed long before the heady heights... I want to ride it to the finishing line this time ...... :cheesy:
good trading...
Hi Bgold - I mentioned it cos I thought strategically it looked interesting so I'm patient for the move ...when it comes...
Jim Rogers got me into the first wave but I bailed long before the heady heights... I want to ride it to the finishing line this time ...... :cheesy:
good trading...
Could be wrong of course...
I'm a big believer in the agri bull story... yes there is the poss that sugar has had it's bull market..... but I'm keeping an eye in case it can come again as the rest of the softs perform.
No complicated stuff - I'm just a cycle watcher... and experienced watchers like Rogers are still pushing sugar despite the amazing first wave....
Not scientific but ....
Well done for being long oil!
Why it's making this move is beyond me though unless there is something in the works..
Maybe it's just supply management ?
I'm a big believer in the agri bull story... yes there is the poss that sugar has had it's bull market..... but I'm keeping an eye in case it can come again as the rest of the softs perform.
No complicated stuff - I'm just a cycle watcher... and experienced watchers like Rogers are still pushing sugar despite the amazing first wave....
Not scientific but ....
Well done for being long oil!
Why it's making this move is beyond me though unless there is something in the works..
Maybe it's just supply management ?
minx
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I'm too short-term a trader in sugar (and coffee) to pay too much attention to long-term cycles. I usually only hold my positions for a few days/weeks.
I have to say I was expecting a bigger move south after the sharp fall near my entry but it just bounced back up and hasnt really done much..........
I have to say I was expecting a bigger move south after the sharp fall near my entry but it just bounced back up and hasnt really done much..........
Sugar Position
Just moving in to Soft Commodities, day trade Brent Crude at the moment and am looking to add some more weapons to my arsenal.
I am currently looking to get long of sugar should the 1 hour chart break up over 310.
Having never made a sugar trade before I am looking to target 314.
Just moving in to Soft Commodities, day trade Brent Crude at the moment and am looking to add some more weapons to my arsenal.
I am currently looking to get long of sugar should the 1 hour chart break up over 310.
Having never made a sugar trade before I am looking to target 314.
Hi ceyda
Yep sugar is looking interesting..... maybe the guys are getting bored of metals and have moved their wads into this space......... after all it's pretty low for a commodity.....relatively speaking ...... we'll see
I do miss your oil thread by the way ........... luckily it's been virtually.... a linear move so I've just about managed......:cheesy:
Yep sugar is looking interesting..... maybe the guys are getting bored of metals and have moved their wads into this space......... after all it's pretty low for a commodity.....relatively speaking ...... we'll see
I do miss your oil thread by the way ........... luckily it's been virtually.... a linear move so I've just about managed......:cheesy:
Hookshot,
Thanks for the comment about the oil thread. To be honest the only reason I stopped doing it was I didn't think there was that much interest in reading about the positions I had taken in oil ! Also no one else seemed to post their positions on the thread so I knocked it on the head !
I might look at starting up again now I know at least one person was interested !!
What are you trading ??
The problem I am having with a lot of these soft commodities comes from getting decent charts with some back data from my spread betting company. I use capitals and you only get to trade the August contract for 4 weeks of July and then you move on to the September contract. By the time I have seen the key points on the chart I only have 2/3 weeks left to trade, before I need to start the process again.
I don't really want to pay for a feed on these commodities just yet because I really am looking at this as a speculative play (pardon the pun). To me the moves are a lot more predictable than oil and they can trend upwards for a good few days without any erroneous price spikes that are going to murder your stop. However, I am looking at only a few weeks of price data on which I am basing that assumption.
I don't mean to sound arrogant or upset any soft commodities traders by saying what I said above, I am just saying it how I see it. Volatility is much lower and the moves are not as profitable in terms of cash. However, the risk/reward ratio is quite extreme ! i.e small downside risk, with a lot of upside gain. I am really looking to open a couple of positions on varying soft commodities and just run them for a few days hopefully taking some extra cash at the end of it.
Thanks for the comment about the oil thread. To be honest the only reason I stopped doing it was I didn't think there was that much interest in reading about the positions I had taken in oil ! Also no one else seemed to post their positions on the thread so I knocked it on the head !
I might look at starting up again now I know at least one person was interested !!
What are you trading ??
The problem I am having with a lot of these soft commodities comes from getting decent charts with some back data from my spread betting company. I use capitals and you only get to trade the August contract for 4 weeks of July and then you move on to the September contract. By the time I have seen the key points on the chart I only have 2/3 weeks left to trade, before I need to start the process again.
I don't really want to pay for a feed on these commodities just yet because I really am looking at this as a speculative play (pardon the pun). To me the moves are a lot more predictable than oil and they can trend upwards for a good few days without any erroneous price spikes that are going to murder your stop. However, I am looking at only a few weeks of price data on which I am basing that assumption.
I don't mean to sound arrogant or upset any soft commodities traders by saying what I said above, I am just saying it how I see it. Volatility is much lower and the moves are not as profitable in terms of cash. However, the risk/reward ratio is quite extreme ! i.e small downside risk, with a lot of upside gain. I am really looking to open a couple of positions on varying soft commodities and just run them for a few days hopefully taking some extra cash at the end of it.
Sorry missed this one....
The sb only allowing you one contract month at a time made me chuckle
the tighter the time window... the more chance for trader mistakes/less chance to get decent move - kerching.. - maybe I'm being cynical... Good luck on the other soft(s)Sugar as you know made new swing highs thursday... making July the first up month off the lows....... apparently June/July is seasonally good for sugar... steady as she goes.
I trade sugar #11 by the way
Minx hopefully not too painful mate.......
