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RJ Ratchford wrote:
> Since Walt has brought his HOT coffee to our attention (one each,
> please), I wish to point out that my analysis indicates we can expect
> the start of this move in Coffee to be on 9/24. TIME DATE !!!!!
>
> Thank you Walt for bringing this market to our attention.
>
> cheers!
> :)
> rick
Rick,
The TREX harmonics will adjust themselves fro each trading day, I will
keep tracking them, and we will see how this all converges on the
24th. Wouldn't it be cool if coffee bottomed on the 24th via Fdates
and also hit the TREX harmonic? :)
Maybe we should all be buying coffe like madmen if this happens :)
For now, the current market position I hold is:
Long 170 calls
Short the Dec Coffee futures from 170.95 (Wanted to defend my calls
just in case the market keeps on dropping. Coffee bulls, don't forget
the rest of the original post:
Right now we know we are high.
I am long 170 calls, and I will sell 180 calls against this position if
the market goes for 185
Im a bull here just in case Coffee blows out through the top when it
hits 185.
If we continue to hang here, a large move down becomes more and more
likely.
In this case I will either liquidate the long call, and prepare to go
short.
or more likely adopt an option
straddle to try and cover both possible moves.
Less aggressive traders might try to play the odds on a large down move.
Remember a few weeks back when I made what appeared to be an uncanny
prediction in The japanese Yen?
Also, go back through some of the CIS posts looking for TREX calls on
the
SP 500. I think you will find the results interesting.
For now, I am playing with Coffee.
So let's see how this puppy plays out. : )
At any rate, it is an interesting trade. I would like to point out
that , right now, I am in the game. The Fib and Gannies
are sitting on the sidelines saying "Watch that duck go! "
:)
Walt Downs
CIS Trading
http://www.cistrader.com
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