Today, December 12 2011, I bought Cocoa Futures at $2,044 USD a metric ton. Please keep in mind that I’m extremely pessimistic about the resolution of the European debt crisis. I still think that commodities will go down next year due to BRICS slowdown, countries in Europe going under and more bankruptcies. This position, is not in my portfolio but in my trading account, so it’s just a speculative play. I don’t have a stop or take profit yet. I believe the time to buy Cocoa is now but I might be early as usual. I might add more Cocoa if the price continue going down.
Please take a look at the chart below:
