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Strategies & Market Trends : Grain Futures Trading
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To: nicewatch who wrote (211)11/21/1998 1:45:00 PM
From: wiley murray  Read Replies (1) of 645
 
Frank: Thanks for the site. A very interesting site. I was interested in his coffee comments.Have you traded coffee. Very volatile I hear.

Robert Miner's DYNAMIC TRADER WEEKLY REPORT - Nov. 14,  1998 - Page 5 of 7
Trading Strategies and Recommendations For The Period Of Nov. 16-20 
Coffee (Dec.)

Time: Sept.-Nov. A major bottom should be complete in the Sept.-Nov. time period followed by a two-year bull trend.

Support: 113.45-112.00: If Oct. completed a major low as anticipated, Dec. coffee should not close below 112.00, 110.00-108.20

Pattern: Sept. 21 completed Wave-5 low.

Coffee has declined to what should be the maximum price zone for a corrective low.

Intermediate Term Traders (L-10/19, 106.75): Maintain the protective sell-stop at 109.95. The protective sell-stop on the intermediate term position is left relatively far from the current market position. The objective of the intermediate term position is to remain in the trade in the event a consistent bull trend develops.

Short Term Traders: The short-term long position was stopped out on Monday, Nov. 9 at the 120.95 protective sell-stop. We will now look to enter another short-term long position as coffee has declined into the support zone that allows a trade entry with minimum capital exposure. Buy on the close if the close is above the current day's open and the prior day's close. Place the initial protective sell-stop one tick below the recent low.

 
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