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800-422-9903(March 14, 2002) COCOA: MAY COCOA--The bulls continue to reach for the stars as cocoa has now reached its best level since September 1998. Analysts remain confounded by the enduring strength of this market and are looking to fears of an El Nino weather pattern to justify the bullishness. The market is overbought on all time horizons and deserves caution. Our sights are still focused on $1700/mt.
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