Hello Criver I am not familiar with the spread call mechanism you're describing. Would you please explain it ? Thnx sequoiatradingclub
sequoia , it is a bull call spread. Interesting data out of Noaa today: EL NIÃO/SOUTHERN OSCILLATION (ENSO) DIAGNOSTIC DISCUSSION issued by CLIMATE PREDICTION CENTER/NCEP/NWS 12 July 2007 Synopsis: ENSO-neutral conditions are expected to continue during the next 2 months, with ENSO-neutral or La Niña conditions equally likely thereafter. Guess Hurricane potential looks pretty tame. Question is, has this been factored in yet?
out of my call spread, liquidated it at 685 pts. loss of 80 pts on the spread. not liking what i'm seeing and recognizing i have no edge here than wait/pray/hope for a hurricane ; which, is pretty dumb. technically the market internals could warrant a bounce; but the non commercial net short doesn't seem all that burdensome. NOAA easing up on La Nina conditions. Tight 06/07 crop already factored in ; and 07/08 crop so far seems to be in a good shape. Granted, will be interesting to see if Brazil plays any role in domestic pricing but mkt feels to me the funds could probably push this down more and get shorter. sux
Hi guys, Here's my lattest OJ analysis : t last ! Orange Juice hit bottom on 120 and bounced, finally confirming our last analysis ! Juice breaks out 135 and should now aim more interesting levels... Don't peel your position now, some extra portions are to be served soon ! OJ made a nice breakout and violently crossed the 20 days moving average (MA20) and mid-june resistance. Now is the challenge : OJ should try to rally next resistance, that is 145/150 zone before 168 more ambitious objective. Some oblique has to be broken first and some resistance is expected between 50 days moving average (MA50) and the mid-term down oblique resistance. Over there, 150 should be easily reachable. Indicators are bull, DMI gave a nice buy signal and MACD is up. MA20 is flattening and should soon go up. PROPOSED STRATEGY : Buy level : > 135 Objectives : 150 then 168 Stop loss : < 128 Potential Profit : 11.1% and 24.4% Potential loss : 5.20% Risk / Reward ratios : 2.14 and 4.71 Sequoia Trading Club
Hello guys, I had sold my position around 140. I am back on FCOJ today around 131... Swing trading as usual on derivative product, still aiming to 150. sequoiatradingclub
Imagine being long OJ from 135's and holding to 170s then 205s. Inventories are down 17% from a year ago. A little Florida freeze could really get prices moving. Just a thought.
Nice bear flag on the weekly chart which seems to have completed to the downside. I'm looking for a print below 130 to get short. I can see this running to 85 -90 area.