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Alan,
I'm not trying to dissuade you from executing your plan you
understand, but after taking a "look" at sugar I think that we are due for
a sideways move and a further breakdown to approximately the 5 cent area.
Since the time of the 16 cent high a year or two ago I think we went into a
long sideways abc after which we have entered the second leg of the down
trend. If so the downward move should reach the 5 cent area I have
mentioned above. Just something to think about.
Best Regards,
Brent
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> From: Alan Sears <asears@xxxxxxxx>
> Subject: Follow-up on prior Sugar post
> Date: Saturday, March 28, 1998 6:07 PM
>
> Last week I mentioned a buy setup in July Sugar
>
> I suggested 2 possible scenarios....
> Buying a break above the previous pivot high or
> looking for a reversal off a retracement support level.
> Prices have now moved lower and reversed off support
> I would look to buy this market on Monday risking to
> the .786 ret level.
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