Bought Coffee (JO)

Today we had a buy-stop order on coffee trigger at the open.

Several of our recent posts detail why we're turning cautiously bullish on commodities.

Below are two coffee charts. First is the monthly showing a trend-line that's proven supportive for 20 years, followed by the weekly showing a possible breakout:

 

JO is the iPath Bloomberg Coffee Subindex Total Return ETN, an exchange-traded note issued in the USA. The Note will provide investors with a cash payment at the scheduled maturity or early redemption based on the performance of the underlying index, the Bloomberg Coffee Total Return Sub-Index.

Here's a great short cautionary tale about a poster boy for imprudence - "Help! My short position got crushed, and now I owe E-Trade $106,445.56"




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