Luzhou Bio-Chem   

luzhou is very hot ipo item

is my day too... :-) What a long wit for this volcano to be active again.

 

today is my luzhou day?

 

Hi Zhuge_liang and hikitty,

Thanks for highlighting, I get the meaning. :-)

 

Hi hawke009,

Corn sweetener is a sugar substitute. Sugar price fall, switch back to sugar and less demand for corn sweetener. So price of corn sweetener also fall.

 

When sugar price comes down, it will affect luzhou (a corn starch producer, whose product has become a sugar substitute with the recent spike in sugar prices ).  Guess that is the correlation.

 

Hi Zhuge_liang, i'm puzzle. Can't really relate your latest posting with Luzhou. :-)

 

Sugar prices in New York fell to a one-month low on rising production in Brazil and India, the two- largest producers, renewing concerns about a global surplus.



Brazil's cane growers will harvest a record 490 million metric tons this year, 1.2% above a February estimate, the government said last week. Output in India's Maharashtra state, the nation's second-biggest grower, will reach 7.7 million tons, 10% more than forecast in October, the State Co-operative Sugar Factories Federation Ltd. said.



"In the past week, there has been an increase in the production estimate for India," said James Cassidy, head of sugar trading for Fimat USA Inc. in New York. "It implies stock levels will be larger. It's one more negative shadow."



Sugar futures for May delivery fell 1.5%, to 10.36 US cents a pound on the New York Board of Trade, the lowest close since Feb. 13. Prices have dropped 38 percent in the past year on forecasts for higher production and a bigger surplus.



"The overall burden of the supply and demand is starting to weigh on the market" said Anthony Compagnino, partner at East Coast Options Services Inc. in New York.



India's sugar-cane output this year may reach a record 315.5 million tons, up 12% yoy, according to the country's farm ministry. White sugar output has climbed by a fifth to 16.6 million tons in the five months ended Feb. 28, according to the National Federation of Cooperative Sugar Factories Ltd.



Supplies have been crimped in the first half before the start of Brazil's harvest starting in April or May, Fimat's Cassidy said. A surplus will emerge in the second half, he said.



Global production will reach 160.2 million tons this year, leading to a surplus of 7.2 million tons, according to the London-based International Sugar Organization.

 

it has good start all the way to 0.785, but quite sad to see it closed at 0.76 only...

The results SHOULD be good.

 

pretty safe as long as dun break below 64.5!

 

Be cautious... could be on downtrend.

 

Luzhou's company report will be out on 28 Feb.

 

From the TA chart, i can see that the extended support price is 0.735. Hope it could rebound from today...... as i have bought 10 lots at 0.83 last week. Do not drop anymore.....

 

man.. today is a bleeding day.. lesson learnt , don't go in before chinese new year man.. anyway, hold it tight baby.

 

Thanks SG.......

Hi Jackjames.... will the support 69/70c be tested?

 

no problem... but my advice is to use whatever indicators that work best for you.

too many indicators will just confuse the hell out of anyone!

 

Hi Singaporegal, thanks for teh input, i will pay more attention to this indicator...

 

Hi novena_33,

Sorry for the late reply. I was quite sick with flu yesterday and didn't surf SJ at all.

Why do you say Acc/Dist is lagging? It is actually one of the few leading indicators around.

I just use the standard parameters for RSI, Williams %R and Bollinger. No special recipe.

 

yeah, my friend cut loss today also..

will see how these days.

 

I have cut loss at 0.78 this morning....looks weak..may trade sideway...

 

shit, bleeding continues today... break the major resistance at 0.77, now it's 0.755.. still vested ...