Frank Petricca
Frank Petricca is writer of “Petricca’s Pick” focusing on a Long Term approach for commodity traders that have an interest in Long term accumulation. Frank has worldwide recognition spurring innovation that points to communicating a different way to approach ones investment portfolio using commodity instruments. Contact Frank at 312-690-7763.
Petricca’s Pick 11/09/2023
COFFEE UPDATE
My September 6th Pick was to start coffee accumulation as coffee futures were within my lower 25% parameter.
Clients and Subscribers are now advisee to discontinue accumulation as coffee futures are now trading over the lower 25% of the trading range.
As many of you know that trade with me, the middle of the trading range is where risk/reward considerations diminish.
In the short-term –
Clients and subscribers should note that this most recent $20.00 rally is due to –
A shortage of coffee beans around the world, in particular due to weather problems in India and lack of supply from Brazil and Vietnam.
The Longer-Term fundamentals were detailed in my September 6th post. Please call for details. 312-690-7763.
Again, my objective for coffee in the coming months is $232.50 which would be the UPPER 25% of the range.
That move would be worth approximately $28,000.00 per 1 contract.
Many of you might think my objectives are overzealous…
Please understand these amazing commodity moves occur many times a year in many different markets.
As a matter of fact –
If you take a look at the chart above, you will see that coffee futures made a similar move back in 2021 when coffee futures bottomed $136.25 and traded $246.00 in November of that same year.
It’s all about being committed to a Longer-Term trading mindset.
For more information regarding my Long-Term Strategies please call…Would love to hear from you.
312-690-7763
In the meantime –
Have a great year trading –
Best
Frank.
Questions? Ask Frank Petricca today at 312-690-7763.