Coffee futures, short for 13 lucky days, closed today with an end-of-trade gain of $2,976 on a margin requirement of $2,970 per contract. Doesn’t that seem kind of mystical?
They were a bit deeper into profits at yesterday’s or today’s low but what does that matter? A profit is a profit. And there have been a lot of profits in coffee since I wrote this September 13th:
Indeed, up 360% on swings long and short in less than a month.
The contract, after adding this swing’s 100% gain to that total, is now long on today’s close.