29 April 2010

Sugar : You Dare to Sell ?

  • Like a chicken, been watching this bubble burst from the sidelines for months.
  • Just couldn't summon up the courage to take action to sell.
  • Gone from 30.40 high to 14.66 now. (On 1 single lot, thats a P&L of USD 17,628 in just 3 months! And IMR on 1 lot is USD 2,520). 
  • Looks like target is 8.36.
  • Remember what they say about housewife wave, greater fool etc ..  feel like I am setting myself up to be one.
  • Perhaps I should just leave this alone and learn from it. In future, when parabolic charts like this break, just close eyes and jump in short. Don't wait.
  • Hmm .. maybe I will dip in and conveniently forget to report it here to prevent embarrassment. 
  • [PIGS yield charts have parabolic rises. At some point, they will snapback just like this too, with significant implications for lots of trades eg EUR/USD].


Taichiseal said...

OK done it. Sold a single lot SBN0 at 14.95.

Fully expecting to regret this.

Anonymous said...

Who knows, sometimes the best trades are the hardest ones to put on. lol - all the best with this one.


Don C said...

Amazing looking chart.
Wonder what Jim-(take 2 sugars, no take the whole freight load)-Rogers has to say about this...

Taichiseal said...

Sold another lot SBN0 at 15.43. Average short at 15.19. Now we sit and do nothing but watch.