OJ Futures
- Thread starter criveratrading
- Start date
sequoia , it is a bull call spread.
Interesting data out of Noaa today:
EL NIÃO/SOUTHERN OSCILLATION (ENSO) DIAGNOSTIC DISCUSSION
issued by
CLIMATE PREDICTION CENTER/NCEP/NWS
12 July 2007
Synopsis: ENSO-neutral conditions are expected to continue during the next 2 months, with ENSO-neutral or La Niña conditions equally likely thereafter.
Guess Hurricane potential looks pretty tame. Question is, has this been factored in yet?
Interesting data out of Noaa today:
EL NIÃO/SOUTHERN OSCILLATION (ENSO) DIAGNOSTIC DISCUSSION
issued by
CLIMATE PREDICTION CENTER/NCEP/NWS
12 July 2007
Synopsis: ENSO-neutral conditions are expected to continue during the next 2 months, with ENSO-neutral or La Niña conditions equally likely thereafter.
Guess Hurricane potential looks pretty tame. Question is, has this been factored in yet?
out of my call spread, liquidated it at 685 pts. loss of 80 pts on the spread.
not liking what i'm seeing and recognizing i have no edge here than wait/pray/hope for a hurricane ; which, is pretty dumb.
technically the market internals could warrant a bounce; but the non commercial net short doesn't seem all that burdensome.
NOAA easing up on La Nina conditions.
Tight 06/07 crop already factored in ; and 07/08 crop so far seems to be in a good shape.
Granted, will be interesting to see if Brazil plays any role in domestic pricing but mkt feels to me the funds could probably push this down more and get shorter.
sux
not liking what i'm seeing and recognizing i have no edge here than wait/pray/hope for a hurricane ; which, is pretty dumb.
technically the market internals could warrant a bounce; but the non commercial net short doesn't seem all that burdensome.
NOAA easing up on La Nina conditions.
Tight 06/07 crop already factored in ; and 07/08 crop so far seems to be in a good shape.
Granted, will be interesting to see if Brazil plays any role in domestic pricing but mkt feels to me the funds could probably push this down more and get shorter.
sux
Hi guys,
Here's my lattest OJ analysis :
t last ! Orange Juice hit bottom on 120 and bounced, finally confirming our last analysis ! Juice breaks out 135 and should now aim more interesting levels... Don't peel your position now, some extra portions are to be served soon !
OJ made a nice breakout and violently crossed the 20 days moving average (MA20) and mid-june resistance. Now is the challenge : OJ should try to rally next resistance, that is 145/150 zone before 168 more ambitious objective. Some oblique has to be broken first and some resistance is expected between 50 days moving average (MA50) and the mid-term down oblique resistance. Over there, 150 should be easily reachable.
Indicators are bull, DMI gave a nice buy signal and MACD is up. MA20 is flattening and should soon go up.
PROPOSED STRATEGY :
Buy level : > 135
Objectives : 150 then 168
Stop loss : < 128
Potential Profit : 11.1% and 24.4%
Potential loss : 5.20%
Risk / Reward ratios : 2.14 and 4.71
Sequoia Trading Club
Here's my lattest OJ analysis :
t last ! Orange Juice hit bottom on 120 and bounced, finally confirming our last analysis ! Juice breaks out 135 and should now aim more interesting levels... Don't peel your position now, some extra portions are to be served soon !
OJ made a nice breakout and violently crossed the 20 days moving average (MA20) and mid-june resistance. Now is the challenge : OJ should try to rally next resistance, that is 145/150 zone before 168 more ambitious objective. Some oblique has to be broken first and some resistance is expected between 50 days moving average (MA50) and the mid-term down oblique resistance. Over there, 150 should be easily reachable.
Indicators are bull, DMI gave a nice buy signal and MACD is up. MA20 is flattening and should soon go up.
PROPOSED STRATEGY :
Buy level : > 135
Objectives : 150 then 168
Stop loss : < 128
Potential Profit : 11.1% and 24.4%
Potential loss : 5.20%
Risk / Reward ratios : 2.14 and 4.71
Sequoia Trading Club
getting a sell signal on OJ.
update...support looks tenuous.