Riding The Gravy Train: Coffee and QID Update

Riding The Gravy Train

Beating the market is fun and profitable. This is how we do it.

Wednesday, September 28, 2016

Coffee and QID Update

 
In late November 2015 we turned very bullish on coffee, at around $122 (black arrow on the chart below). 

Click here to see the charts and commentary.



We posted an updated chart in late February of this year, just a few days before the low of the year, as can be seen on the JO chart below (black arrow is our entry point).



In mid-March we noted that coffee had broken a 1-year downtrend.

In early June we had to re-draw the 1-year trend line, shown in green on the chart above.

A week later coffee had shot 20% higher, to $147, and confirmed the break of a 1-year downtrend.

By mid-July coffee went as high as $157, dropped below $140 in August, and in September hit a high above $160 and currently sits over $153
 
JO is the iPath Bloomberg Coffee Subindex Total Return ETN

We remain long-term bullish on coffee, via JO which we entered at $18.91. 


Sunday we announced an intention to enter QID, to effectively short-sell the NASDAQ, if QID traded above $25.20  That hasn't happened yet. 

We're lowering our QID buy-stop level to $24.70 


 
 
 
 
 


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