when i read the comment "i guess you'd have a lot of oj to drink" oj almost came out of my nose. obviously this applies to any commodity you're trading (e.g. "i guess we can make a lot of bread w/ the 50k bushels of wheat i now own"). re ideas for trading OJ, looking at the chart which is all i do, since the middle of march it has been in a steep downtrend so either short or stay out - no need to try and pick the bottom. for those inclined to pick the bottom, wait for an up day (OJ hasn't had one for 6 days in a row!) then place a small stop below the low of the day.
That's exactly how I interpreted the statement "I guess you'd have a lot of oj to drink" Also, I have seen that OJ hasn't had an up day in the past six days as well! I must say though it looks like an up day for OJ may be just around the corner. Guess we'll have to wait and see
Well, I got in at 141 bought 10 contracts and sold at 146. I think it's gonna go up again tomorrow. I'm not sure though. Gonna keep an eye on it. But how about that Cocoa today!? I bought 20 contracts at 2080 and sold at 2150! Today was a good day in the markets!
I am in at 54 and 39 so i am near breakeven right now , need a little extra pop and will make nice money
what I don't get is who is drinking OJ made from concentrate anyway? All you can find in stores are "not from concentrate".
i'd look to 155-160 to take profits since that's the area it broke down from. it will take a lot to break back through there.
I got short OJ in late January and have had to rollover, took me a few shots at finding the top, but now I just keep my breakeven stops in and watch the weekly bar charts, actually it is automated. I stopped using daily bars on long term commodities 20 years ago, way too many losses and drawdowns were too big, and way too much work. I want to get in near extremes and then stay in it for long haul.