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<DIV><FONT face=Arial size=2>List,</FONT></DIV>
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<DIV><FONT face=Arial size=2>Sugar's recent tumble is still within rather
defined parameters. The "fib-boxes" remain an interesting phenomena to
monitor. The inability to be supported by the "cluster" of moving averages
resting above the 6.87, was the big clue to this tumble. I gave my long
term positions some room to experience what should have been support, but as
suggested in earlier posts, I was stopped out of all long positions at
6.85. Once the moving averages started to turn down...poor old sugar
didn't have a fighting chance. If you examine the last year of sugar
prices, one could conclude that the 144 day moving average is a very important
pivot point that acts as significant support and resistance. For everyone
that thinks sugar is "cheap" again ... beware of the 6.40 area. The
combination of the 144 average and the fib retracement level, at this
level, should be formidable resistance.</FONT></DIV>
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<DIV><FONT face=Arial size=2>Steve Karnish<BR>Cedar Creek Trading<BR><A
href="http://www.abbracadabra.com/cybercast/";>http://www.abbracadabra.com/cybercast/</A></FONT></DIV></BODY></HTML>
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