Sugar price is going lower

• 29 August 2008

• #1

Investor123

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Sugar is one of the alternative source of energy.

Falling oil price simply means that demand for alternative energy like sugar will be lowered. Rising US dollar is going to push down commodities prices including sugar.

According to CFTC data last week, hedge funds had decreased their long position in sugar futures. Net long positions fell by 5147 contracts, or 4% from a week earlier.

Shorted Sugar Oct 08 at 13.92
Stop level at 14.50
Target at 13.00
Value of 1 point is US$1,120

 

• 29 August 2008

• #2

Investor123

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Parabolic had signal sell on the daily chart

 

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• 29 August 2008

• #3

Investor123

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30min chart shows that sugar price is trending lower

 

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• 29 August 2008

• #4

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dotocom

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are you looking for short term gains through volatility here?

 

• 29 August 2008

• #5

BentRod

ZZZZzzzzZZZZzzzzzzzz

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I think he's just looking for traffic mate.

It's a copy a paste sesh.

 

• 29 August 2008

• #6

N

noco

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Investor123 said:

30min chart shows that sugar price is trending lower

Click to expand...

According to CSR this week sugar prices are expected to rise to $420 per tonne by 2011, an increase of some 33% increase.
This will be due to Brazil concentrating their efforts on the production of Ethanol, hence the demand for sugar will increase.

 

• 29 August 2008

• #7

Investor123

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dotocom said:

are you looking for short term gains through volatility here?

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No, my target is 13.00, not really short term gains.

 

• 29 August 2008

• #8

Investor123

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Falling oil price has pulled sugar price lower. Sugar price had fallen to 13.61,unrealised profit is US$347.20.

 

• 30 August 2008

• #9

Investor123

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Early in the week I had shorted Sugar Nov 08 at 13.92, stop level at 14.50, target at 13.00.

Oil had been pressured by strong US dollar, causing sugar price to fall further. Sugar price had fallen to 12.81, so my target level at 13.00 is reached. Realised profit is US$1030.40.

 

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• 30 August 2008

• #10

CanOz

Home runs feel good, but base hits pay bills!

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We can all make hindsight calls and claim profits on trades. No one does it though because it casts doubt on the crediility of the poster.

Post a few calls before the result, and you'll have more credibility with the members here.

I particularly like to see trades on commodities, so i'll watch with interest.

Cheers,


CanOz

 

• 30 August 2008

• #11

Investor123

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CanOz said:

We can all make hindsight calls and claim profits on trades. No one does it though because it casts doubt on the crediility of the poster.

Post a few calls before the result, and you'll have more credibility with the members here.

I particularly like to see trades on commodities, so i'll watch with interest.

Cheers,


CanOz

Click to expand...

Yes, I totally agree with you: Post your calls before the result.
I had posted my call on Oil / Gold spread trade in this forum as well, do watch it!