The downtrend in cotton continues, much to my chagrin. It closed limit down yesterday, and is down almost another $.02 as I write this.
After reflecting on my previous guest post about determining a market’s trend, I decided it’s time to eat some of my own dog food. So, I have sold my position in cotton. It will be interesting to see if the bottom holds around $.39. But I will watch from the sidelines until a longer term up trend establishes itself.
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