It's been another wild week in the markets. Greece & now Italy are causing huge volatility. We are still in the Schwab position and got filled on FORM. I still think we will see a big stock market rally for the end of year.
We entered the March Futures Cocoa position (CC) at 2550 with a stop at 2487. This is a long term low for cocoa in a weekly buy mode just as we enter strong seasonal strength.
Statistically speaking if you bought cocoa on the 4th November every year since 1972 and sold on the 23rd December you would have been right 52.7% of the time. That's the kind of odds we like. Since the contract size is 10:1 we will risk $680 for a possible $10000 return.
We had another dip today in Gold. Buy on the dips as always.
Happy investing,
Best Regards,
Robert McManus
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