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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (39430)	10/10/2003 9:41:22 AM
From: LPS5	Read Replies (1) \| Respond to of 74559

[U]nable to seek truth from facts. What do you mean? LPS5

To: TobagoJack who wrote (39430)	10/10/2003 11:48:19 AM
From: gumnam	Read Replies (2) \| Respond to of 74559

Hi Jay Update on my foray into commodity trading - Now that I have completed 2 week of buy&hold, I breathe much easier. Just for ref I purchased Wheat at 347 and Copper at 83.20, both december futures. 1) Agricultural commodities are nuts. Wheat prices collapsed by about 40 $ from their highs (367) because Egypt decided to buy Australian wheat instead of US wheat. Australia undercut US by 2.5 $ per tonne. Apparently after that the market realised, there is no f..ing drought in Australia. Apparently it is raining cats and dogs over there and is the ideal wheat growing weather. So it is trading at 330 today and I am down around 5% after being up 5%. Nobody cares about Chinese eating lot more or anything. In short it is the kind of girl that you want to have fun with but never a long term relationship. 2) copper - It is up around 3.5% from where I bought it at roughly 86.00. Almost a gentlemanly market. Rains and droughts do not matter. Apparently the only theme is China - which is much easier to understand than rains in Australia. But one thought I have is , that in a bull market in stocks, there is not much point punting in commodities. However if equities in general start crapping, commodities might be a lot of fun. Cheers