Cotton Morning Comments 0121

Cotton (fundamentals): As of this month on the 16th, New York Cotton position showed net long speculative 2.6% to 2% of net shorts, an indication of willingness to look at empty stronger, should not be too optimistic market outlook; yesterday Customs data show that in December the domestic total cotton imports 168,000 tons, up 48 percent reduction in the quota in January after the introduction of the market is not yet improved, can be seen sluggish market demand will remain a longer period of time, short-term can not be optimistic about the market outlook. (Technical): the lack of information currently on the market fundamentals in the markets around bad NYBOT Cotton under pressure Tuesday to close down. Zheng yesterday cotton to maintain the disadvantaged concussion sideways trend to continue shrinking positions to reduce turnover, average 60-minute shows explore the market orientation, to participate in a holiday before the caution,轻仓mainly of short-term, not temporary midline approach. (Operation recommendations): short-term bearish participation.