Very Aggressive Cotton Trade

Very Aggressive traders can purchase another December Cotton contract as it looks as if the first leg down has been completed.

While I had originally anticipated that Cotton would wage one more rally to new highs before the downside action would begin, it appears now that the most recent high at 68.80 is in fact the top and we have just completed the first leg down.

A rally back to 62.75 looks like a logical move from here.

Please understand that this is a very aggressive trade and is not for every commodity trader.

Set the Sell Stop at 56.60 for a total risk of $450 per contract.