Opinions
Bill Carrigan
iPATH DJ-UBS Coffee
JO-N
COMMENT
Aug 12, 2014
$35.660
Stock price when the opinion was issued
E.T.F.'s
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BUY
Looking at the longer-term chart of coffee, it made a turn higher in about March, and had a pretty good lift from $17 to about $26. It has now pulled back into support at about $21. In general, the commodities are improving. We are seen strength in a whole bunch of different groups. This looks okay here.
E.T.F.'s
Soft commodities have taken a real hit. Chart shows a long downtrend from 2011, followed by a breakout in early 2014. All of the soft stuff went from about $38 down to the low $20’s, but coffee didn’t. Because of this, he would think it goes higher.