No time to waste! So let’s get right to it …
The iPath Bloomberg Coffee Subindex Total Return ETN (JO) enjoyed a brief rally from mid-July to early August. And after a slight pullback, moved higher every day last week. But this rally is running on borrowed time.
Our E-Wave cycle charts are now forecasting a steeper pullback ahead, followed by choppy, range-bound trading over the next few months. That’s why it makes sense to close out your JO position with a slight gain now, ahead of the next correction in coffee.
Here’s what to do right away:
SELL to CLOSE ALL your shares of the iPath Bloomberg Coffee Subindex Total Return ETN, symbol JO, at $18.25 or better. This order is good-till-canceled.
In the meantime, continue to hold all other positions. And stay tuned for more updates coming your way soon.
Good investing,
Mike
