Many commodities are creating another higher low including coffee, nat gas, sugar, etcetera. Inflation appears to be permanently imbedded in our economy as it is.
Cotton is sooooo absurdly underpriced that based on this chart, just as $NATGAS was when I pulled the trigger and openly stated that it would be the greatest trade of my life, I am ready right now to step in much harder than a 1 contract at a time approach that I constantly preach. Cotton stands to make a massive move.
Why? Why now? Why step in much harder than the standard 1 contract at a time conservative approach?
Fundamentally, the helicopters are flying around throwing money, money and more money around as if it means nothing to the powers that are in control. The money must go somewhere... greed is everywhere. So, the money finds its' way into the markets and, eventually, into the futures markets.
Technically, the following chart is a weekly with interesting overtones reminiscient of Palladium and $NATGAS - a giant rise and subsequent collapse.
The first chart is a weekly cotton chart... see the rise starting with higher lows during the last several months???
The second chart is a P&F chart of the Dow Jones-UBS Cotton Sub Index (DJACT) which shows that the bearish price objective has already been met.
The third chart is a weekly annotated chart of DJACT.
Peruse the charts and think of treasury officials with the blessings of your Prez and a giddy looking Ben near his side buzzing about in a chopper pitching money at various unseen targets and PERHAPS you will see my rationale for "stepping in harder".
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