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Mar 28, 2024 12:00 PM

Short Cocoa at 10,000 Short

ICEUS:CC1!1D
Cocoa FuturesICEUS

Description

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The cocoa market is in the mania phase.

Shorted at 10,000 in small size (2%), just one small position in the macro book, can only lose 2% even if it doubles in value from here!

Caveat emptor. Target much lower over coming months.

Comment

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Taken profits on short cocoa despite view of lower prices longer term. 25% profit in 5 weeks is decent and can put the capital to work elsewhere.
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