Did anyone follow me on my Coffee (JO) Trade? I was a bit early on jumping the gun but held on and have been adding to my position. I may take a breather at the 50ma and if so, I will likely add.
I like the looks of the On Balance volume and the divergence in the CMF and MACD near the YCL.
Previous post on Coffee:
Has Copper found a Bear Market Low and are we seeing another signal that Inflation is winning the battle over Deflation? On this longer front, Time will Tell but my second chart gives you my perspective.
In the short term, my first chart work shows that Copper is bouncing out of a shot term Trading Cycle low and perhaps a longer 5-6 month Intermediate Cycle as well.
Freeport McMoran (FCX) was up 6% today and Rio Tinto (RIO) almost 7%. RIO is also paying a 4% dividend even at its current price point which makes it a nice buy and hold for an IRA account.
Does it have a Cycle? Talk about catching a falling knife… Wheat (WEAT) has been in just a brutal 9 year Bear Market as my first long term weekly chart clearly shows. So why am I posting on it? WEAT has broken out of a 6 month downtrend within the … Continue reading →
One of the minor commodities I track is Coffee which you can trade in the Futures market or use the JO ETF (Cup of JO). I am thinking Coffee may have found it’s Yearly Cycle Low today and it may well double in price by the Spring of 2017 based … Continue reading →
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