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This is a discussion on Orange Juice within the Softs forums, part of the Commodities category; Always wanted to trade Orange Juice futures since seeing Trading Places with Eddie Murphy ! Looks like a good risk/reward ...

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Old Mar 2, 2004, 11:30am   #1
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Smile Orange Juice
Always wanted to trade Orange Juice futures since seeing Trading Places with Eddie Murphy !

Looks like a good risk/reward opportunity with this contract .. Major key-day reversal (contract reached new all time low yesterday but closed above previous days range) I am buying with a stop below the previous low .. looking for a run up to 70 maybe?

Peter
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Old Mar 2, 2004, 11:51am   #2
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When do you get frost in Florida?
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Old Mar 2, 2004, 1:31pm   #3
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Spot on Oatman
Fear of early March frost apparently makes this contract do well during 1st half of March!! If you had bought OJ K on 3rd trading of march and sold on 11th, you would have made 12 out 15 times a good return. Stopped out only 3times and made a total of 41 pts.
In my books ccertainly worth looking at.

Longer term I would agree that downtrend may yet take a bit more time before its reversed.

PeterTT, watch out those scums in OJ pit; they'll take any vulnerable stop out. I guess the only way to make money in the horrific bear market of past few years. All thanks to Mr Atkins!! 32mio americans are on low carb diets and that doesn't include OJ. In stead they are/were hooked on beef (LC)
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Old Mar 2, 2004, 1:44pm   #4
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I once heard a veteren commodities trader say :

"I've never traded Orange Juice and I never will."

Apparently his mother taught him to trade, and said that if he ever was tempted to trade OJ, he should go take a lie down and think again!

Can't recall his name.

I wonder why he was warned off this market?
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Old Mar 2, 2004, 1:54pm   #5
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Apparently a lot of com traders think it very volatile. and prefer to trade other things.
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Old Mar 8, 2004, 12:02pm   #6
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Seems like it's happening again. Any news out on OJ? Good weather in Florida? OJK4 down to 6220, probably taking out most vulnerable stops. On course to new lows or correction of initial advance from bottom.

If the low holds, I will turn bullish!
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Old Mar 8, 2004, 12:17pm   #7
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I know a few people who have been scaling into this for some time now waiting for the reversal. I agree that it looks a good bet. Think March is a little late for frost. Florida season is over by Feb, real frost scare is Dec/Jan time. Now eyes turn to Brazil crop that will be around June/July.
What does the forward structure look like? If flat then even better I would think.
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Old Mar 8, 2004, 12:25pm   #8
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fwd structure is still quite/very steep, does not seem to have signs of any reversal:
K 6265 -125
N 6500 -140
U 6915 +40 up on the day?
X 7035 -65
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