Comments on: /KC & JO Coffee ETN 1st & 2nd Price Targets Hit

By: Dean Drummond

Dean Drummond — Fri, 14 Feb 2020 19:12:36 +0000

In reply to nostaticatall. Congrats on the trade & best of luck on the next one!

By: Dean Drummond

Dean Drummond — Fri, 14 Feb 2020 19:12:20 +0000

While I suspect coffee may be in the process of pounding out a bottom around this $1ish long-term support level, there’s just no way to say with certainty at this point. Long-term bottom or not, the recent drop to support with bullish divergences in place & the subsequent trendline breakout offered an objective entry for at least a swing trade & I’m very open to allowing that to morph into a long-term trend trade, should the charts continue to firm up.
Thanks for mentioning rice. I don’t believe there is an ETF/ETN that specifically tracks rice (maybe so?) although I take a look at the charts of /ZR (rough rice futures) asap.

By: Dean Drummond

Dean Drummond — Fri, 14 Feb 2020 17:39:33 +0000

Thanks Randy. I have been adding on the way down having taken profits from the last move up. Where do you think we can go ultimately?
To me it appears we may have started a new bull market. We are putting in higher lows and higher highs for the first time in years.
I haven’t seen you cover it but Rice worth a look too.

By: nostaticatall

nostaticatall — Fri, 14 Feb 2020 17:39:23 +0000

Sold yesterday, little too soon but profitable. Hoping to re enter at a lower price. Thanks @rsotc.