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Thursday, February 25, 2010

Trade - SGG

Sugar looks interesting here. Its oversold and at the top end of some major support.

From Aug. to Dec. it consolidated between 62 and 67.5, and now it is at 67.5.

I understand the short-term concern regarding too much sugar coming from Mexico, but technically SGG looks interesting here.

If a more conservative approach is desired, and play off the 200 SMA is the most likely area for a nice bounce.

I will look to play it at the 200 SMA.

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