Note: the Coffee transaction is reported a day late as the data for the Library had not been updated in time. I have the same problem today with Nickel but thought it best to report the trade, even though the charts are only updated through the 5th.
My May position Robusta Coffee (weekly & daily) long was stopped out yesterday at 2035 for the May position versus the rollover purchase price of 2035.2 on 27 February when the March contract expired. I had a tight stop in place because the advance has been steep. However, the Arabica contract (weekly & daily), which has led this move due to drought in Brazil, ended a volatile day with new highs, so coffee has yet to lose its upside momentum.
Today, I decided to participate in the LME’s nickel contract (weekly & daily). To do so, on IG Index for a tax free spread-bet, at least in the UK, I bought ETFS Nickel, paying 1691, including dealing costs. I only opened a small initial position as Nickel has rallied in the last week, albeit from a very low position. If it dips back I may increase my stake.Back to top