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Market to remain very sloppy
20 Sep '08
4 min read
A major and significant positive signal that the market has established a bottom is the weekly bullish consensus report. This week's reading is the lowest since the ten week period at the end of 2004. In short, it means that most everyone is bearish the cotton market, i.e., that prices will move lower.
But, if everyone is bearish then who is left to sell the market lower. The shorts are already in place and you can bet they will not all become millionaires. Thus, since all are rowing in one direction, it is time to set our oars to row in a different direction. The direction of the market is higher. Yet, between now and January the market will remain very sloppy.
But, if everyone is bearish then who is left to sell the market lower. The shorts are already in place and you can bet they will not all become millionaires. Thus, since all are rowing in one direction, it is time to set our oars to row in a different direction. The direction of the market is higher. Yet, between now and January the market will remain very sloppy.
Bayer CropScience
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