The Hottest Asset On The Planet Could Be Cooling Off
Chris Kimble | Apr 02, 2014 07:48AM ET
Have you enjoyed a cup of Coffee today? Speaking of joy and coffee, the first few months of 2014 were a real joy if you were long Coffee, since it rocketed 100% higher in just two months. The near vertical rally hit the 50% Fibonacci level and 80% of investors became bullish on coffee. The Power of the Patterns suggested for Premium members should establish short positions in Coffee because of this situation.
Over the past couple of weeks, hot coffee has been cooling off and could be breaking a steep support line that would bring in more selling pressure. Keep in mind, small investors remain holding a large amount of bullish contracts at this time.
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