72 cents is the 38.2% retrace for the move from 59 cents to 79 cents. I still have a nice 61.8% target for 66 cents. We should get that since people will be in doubt that the coffee trend has started, and they will try to short coffee. Hey Waggie, are you starting to store bags of coffee in your house?
Coffee futures gapped lower yesterday on fund and speculator selling, some of it influenced by locals looking for sell stops underneath the market. The market ws under the increasing impression that Funds were too long, due to their recent participation on the upside. Wednesday, March 11th is the Last Trading Day for March Options in Coffee.
guys, I dont have a futures a/c yet.. is there ANY stock that i could play that would participate in the bull coffee run?
If you read the previous posts, I mentioned a stock named DDRX. I do not know what they do, but if you compare the monthly chart on DDRX since 1997 to coffee on a monthly chart since 1997, the two charts look very similar.
Based in Irvine, California DDRX is a specialy coffee roaster, wholesaler, and retailer. They also sell whole beans and ground coffees on a wholesale basis through a network of distributors in the Office Coffee Service (OCS) market, and to other wholesale customers. The stock trades around $3.50 dollars and has a book value of 3.16 They had Revenues of $53 million last year. Their return on assets and equity is Negative. Diluted EPS was -0.33 cents per share. http://www.diedrich.com
I was looking for CMGI and somehow type in GMCR instead back when it was in teen http://finance.yahoo.com/q/bc?s=GMCR&t=1y&l=on&z=m&q=l&c=^SPX
Great post. Should start a new thread on this one and get some input on what constitutes a meaningful catalyst, or ways to spot one. I think this applies to gold right now (not too high yet), and coffee too (not too low yet, but close).