Coffee perks, 123.20, pops.
Thursday, October 19, 2017
by Alan R. Palmer of Walsh Trading
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I have hinted the last few articles about coffee and now we held the 123.20 level the last two days before the pop if looking for a mid-week major turn. That may have happened so leave risk stops at 122.30 My only rule is that you must hang onto winners. Why? They can turn into such big winners if you leave your stop in and don't look at it.  Sugar could be close over 14.20-ish close basis. Cocoa- Don't get bulled up up here. this is where the hook like coffee in reverse is. Same indicator. Specializing in providing timely technical advice to the AG business community. Contact me for a free outlook in your specific product. arp@WalshTrading.com 312.957.8248
Alan R. Palmer
Sr. Strategist
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About the author
Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group. Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen. He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques. Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago. Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com
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