Comments on: JO Coffee ETN Trade Idea

By: becky

becky — Mon, 29 Jun 2020 18:02:34 +0000

In reply to vsqar. Good volume on /KC, but on JO it looked like a lot of folks just sold their holdings and ran away. I too think this time it's different

By: jfk

jfk — Mon, 29 Jun 2020 17:55:41 +0000

In reply to vsqar. Most of these low volume products are pump and dump

By: vsqar

vsqar — Mon, 29 Jun 2020 16:38:19 +0000

In reply to rsotc. This looks more like a pump and dump. I see two trades at 10:20 and 10:29. Other than that there is not much volume.

By: pbwilli37

pbwilli37 — Mon, 29 Jun 2020 16:01:43 +0000

In reply to rsotc. Do you see the same set up on weat?

By: rsotc

rsotc — Mon, 29 Jun 2020 15:18:43 +0000

JO gapped above the downtrend line as well as the 30.60 resistance level, rallying up to hit the next resistance level (31.62), followed by the expected reaction/pullback so far. This pullback towards the 30.60 former resistance, now support level, offers another objective entry or add-on to an existing position. JO is an Active Long Swing Trade with the official entry price at today's open (31.01). Note: R1, or first resistance, was previous incorrectly labeled as S1, or first support, on the previous chart with the typo corrected in the updated daily chart below. In my rush to get the trade idea posted before leaving my desk earlier today, the suggested stop was only listed on the chart included with the post but has since been added to the post above, as well as the suggested beta-adjusted position size.