Cotton above $1

B

benwm

Anyone trading Cotton No.2 on ICE?
Seems to have broken above $1 in pre market trading...

Does anyone know the daily price limit? I thought it was 3 cents but it seems to traded up to $1.0198 which is more than 3 cents above the prior day settlement.

Is the day price limit 4 cents?

Thank you in advance for any replies.
 
1) it needs a breather
2) these levels are not sustainable, I mean we saw what happened to the hedgers last time this happened.
 
Quote from noob_trad3r:

It is because of all the Quantative Easing. All that printing of dollars requires cotton.
More...

"We have the keys to the printing press, and we are not afraid to use them."
- Ben Bernanke

From Wikipedia:-
Cotton paper is used in banknotes. Modern banknotes are typically made from 100% cotton paper, but can also be made from a mixture of 75% or less flax. Other materials may also be used and still be known as Currency paper. The US dollar is printed on cotton paper.

Cotton bond paper can be found at most stores that sell stationery and other office products. Though most cotton paper contains a watermark, it is not necessary for it to have one.

:)
 
The Calendar Spreads with Cotton and Sugar #11 are fantastic trades:

1zz16cm.png
 
You must log in or register to reply here.
Back
Top