I placed an order to buy 1 HGM07 380 Call @9.00 to cover my short call option on copper future last Friday at 10.30 CST. 25 minutes later I sent a cancellation to this order as I thought price keep moving away from me and I decided to fight it out.
There was no confirmation of trade for the...
TradGrab,
You are right, commercials and large traders take opposite positions. So if the traders flat their long positions, price will go lower. Let us see how the price moves in the next few weeks for the Mar07 contract
janvir19,
Yes in the longer term that may be bullish. But now it is just the start of 2007.
Look at COT data, the commercial is net short, index is near zero. Last time index was this low was in Jan/Feb 06, the price of coffee drop from $140 in Feb 06 to $100 in Jul 06. At the extreme...
B1S2,
Go to read this coffee update,
http://www.fas.usda.gov/htp/tropical/coffee.html
it may change your view. Please read the past figures and compare with the price chart, you will see it can be very accurate.