Seeking Alpha

Dr. Kris'  Instablog

Dr. Kris
Send Message
Dr. Kris has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her satisfaction), she decided to tackle something even more difficult—the stock market. Applying the scientific method along with an insatiably... More
My company:
Stock Market Cook Book
My blog:
Stock Market Cook Book
  • Market Notes: Sugar Getting Sacked -- June 13 0 comments
    Jun 13, 2013 7:25 PM | about stocks: SGG

    It appears as if the bears weren't able to deliver that one-two punch needed to knock the bulls from the ring. The bullish engulfing candlesticks in the one day charts of most of the major averages (excepting the Nasdaq) and a bounce off recent support levels indicate a second wind for the bulls. On top of that, the Trin still has a ways to fall before entering contrarian land showing that today's rally could easily last through tomorrow. It will take more than a day or two, though, for the bulls to declare victory as the overall direction of the market is still trending down.

    Commodities Highlight: One piece of market data that isn't being widely reported is that sugar (SGG, $57.50)continues to slide. It's been falling steadily for about two years, shedding 45% of its value from its July 2011. Recently, the exchange-traded note (ETN) fell beneath $58, a major support level. There's minor support around $55 but it sure doesn't appear as if that's likely to hold. Should it not, the stock could easily continue on down to retest its all-time lows in the $35-$40 range. There are options on this vehicle but they're not heavily traded, although there is some action at the $60 put strikes.

    Subscriber Notes: There are no new entries but please read today's trading note.

    Themes: commodities, short ideas Stocks: SGG
Back To Dr. Kris' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • Intraday support/resistance: $SPX 1965/1972, $DTX 817.75/825.25, $DJIA 16915/16965, Nasdaq 4388/4422, $RUT 1170/1178; $VIX 11.5/12.1
    about 15 hours ago
  • Intraday support/resistance: $SPX 1957.6/1976.4, $DTX 812.8/822.2, $DJIA 16878/17022, Nasdaq 4367/4444, $RUT 1165/1185: $VIX 11.7/12.85
    1 day ago
  • Market Movers: Tech Breakouts & Commodity Breakdowns -- July 6 $AAPL, $BBRY, $MHG
    2 days ago
More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.