commodity profit taken and one position increased
I was up late last night and decided discretion was the better part of valour on my coffee position so I decided to take the profit on the March contract. My sell order was executed at 124.95 against my purchase at 121.80 opened on November 19th.
Seeing silver trade below $14 I increased my position in the March contract on belief that the best time to buy commodities is when they are short-term oversold rather than following a rally. My position was opened at $13.938. The risk is that the breakdown is sustained and that silver does not move back above $14 but rather extends the downtrend.
