CHOC, NIB - Raising & Setting Stops

Today's market action brought a blessed Easter gift to prudent investors and speculators, as the DJIA was down over 800 points at the day's low.

After a bounce, at the close of trading the senior index was down 459 points or almost 2%.

Exactly as we've expected, the prevailing trend in global equities is downward and should remain so for weeks and months to come.  Years? 

There will be major rallies, but they will prove to be bull ... traps. 

Pehaps it's just too much Easter chocolate, but we're feeling overweight on cocoa. 

We're once again raising our stop on CHOC, now to $37.40 which represents a 30% gain from our entry last year.

We'll also set a stop on one of our two positions in NIB, at $29.80 which is 27% above our entry.

We'll leave our other NIB position open without a stop for now.

Cocoa is up over 30% since we posted this observation more than a year ago, when we had a "$2500 minimum" target that's now exceeded by today's high at $2647.



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