2 down 2 to go 12/3/8
RBA cut 1.0% to 4.25%, RBNZ cut 1.50% to 5.0%, ECB and BOE expected to cut bright and early tom morning. The March Japanese yen hit our target of 1.08, see Monday’s commentary. We suggested for clients to buy February n.gas $8 calls for $2000 today, target $3500. Use the pullback in sugar # 11 you are seeing to get long dated calls or futures bought. Read our recent entry on blog or site on soft commodities; some potential sleeper markets. The next few days I will be posting “10 Market Rules to Remember”..forwarded to me by a floor trader with FC Stone.
Tags: carry trade, central banks, coffee, cotton, futures, interest rates, natural gas, risk managemnet, soft commodity, sugar, yen
