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Trading Coffee (JO)
By Charts Coffee
The blog is called Charts and Coffee. Tonight I am looking at the Coffee ETN (JO). In part because this is a decent trade, perhaps more because I just wanted to discuss trading coffee on my blog. This is thinly traded. Average volume of 2500 shares per day. I'm guessing the spreads are pretty wide meaning you have to be patient getting in and getting out. I like the potential breakout above its trading range at $37.3. I'll be looking to enter this with a limit order at around $37.3. It closed at $38.52 today meaning it will have to retest the breakout in order for me to get into this. I'm not enthused enough about it to chase it up. Risk is easy to manage. My target would be $42.5. Stop set at 35.75 (have to assume you will get killed by the spread on the exit).
This intel first appeared on: http://chartsandcoffee.blogspot.com/2009/01/jo-watching-coffee.html
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