17Dec11:15 amEST

Cutting a Gourmet Loss; Chess Moves

13223212613 No dice on the coffee long starter position I took the other day, with the JO ETN failing to hold recent lows. As a result, I closed out my position just above $31.30 from the $32.77 entry I posted the other day for a loss. I am honoring my stop-loss as the thesis for the trade is being proven wrong by the market with price losing Monday's lows. As far as my open positions, the CORN long is in solid shape, as is the UNP short. Still, with the Fed later today I am inclined to show a bit more patience before making my next move.

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