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(March 26, 2002) COCOA: After many weeks of plodding along to ever higher prices, cocoa has finally dropped into a downward adjustment. That correction is about to enter the crucial third week, so the bull trend must resume by April 5, 2002, or the balance of power will have shifted to favor an extended decline. The worst case scenario will be for a two month correction that carries down to the 1250 area. It will be a bullish sign if CCK stays above 1405 on the current dip.

Dave Norton

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