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iPath Bloomberg Cocoa SubTR ETN Message Board

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  • ryanpnyg91 ryanpnyg91 Jan 4, 2012 12:51 AM Flag

    The bearish case??

    I am not a bear but I can give you a couple of reasons why it could go down.
    1)Because everything can always go lower:)
    2)Daily volume has quadrupled in last 2 months during which time the shorts have pushed and may continue to push cocoa lower due to a record harvest
    3)Any finacial chaos in Europe may push the Euro lower/dollar higher which usually has a negative effect on commodities which are priced in dollars.

    That being said, cocoa has put in an interim bottom at $27.23 that you can set a stop at just in case it decides to break to new lows. I will be buying below $28, sell it at $35 with a stop at $26.5

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