The stock market continues to struggle with fears of recession and inflation as commodities are the new hot and sexy investment opportunity. With open interest still at 300,000 contracts, the hedge funds have hijacked the physical cotton crop. After forcing the commercials to reduce short positions, it will be hard to find any sellers as new money continues to enter the market.
Technicals are in new territory as 400 point limits still apply, but the momentum seems to be under pressure after a 25 cent rally over the last 15 sessions!
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
