Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Sorry, but I disagree with this sentiment. We all knew that the price rise from 115 to 125 would show shorts covering, I doubt this is a surprise to anyone in this market. When markets, sentiment, and COT turns it always starts with a report like this. Do we really think the shorts that puked their positions are going to be full of bullets to short this thing again in the face of winter in Brazil? Seems highly doubtful, these were the first shorts out, they see the writing on the wall. Also, the large increase in producer shorts will only lead to less selling when this thing really starts to break out on the upside.