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Lower Still? *PIC*

It is clear that funds remain in control and, IMO, have plenty of sideline ammunition to keep new spec longs in check. Relentless defensive selling continues deeming any new pops ephemeral. Failure at the daily 40sma continued the downtrend and leads us to where we are today, teetering on yet another trendline currently at 12035 which will likely be broken, not violently, but more likely grinding through as roasters take advantage of sub-$1.20 beans. My opinion is that hard sweeps to the downside should be bought into to play reversions, but longer term long outright positions should be monitored closely. April ATM strads should be cheap today should we have a quiet morning (sub 200ish) and may be worth the premium to scalp the gamma. Other than that, greener pastures are currently elsewhere (cotton, cocoa, etc). Nor'easter today in the NYC area so be safe for those affected. On we go...

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Lower Still? *PIC*
Re: Lower Still?