CEO of Excelso Coffee, Ed Field, reveals all the factors that go into each perfect cup of Field Coffee and Tea.
Yesterday, December closed down 320 points at $1.78 even. To the best of my knowledge, there was no breaking news. But from 8:30 to 9 a.m., December dropped 450 points to 1.78 (about 3,000 lots traded). It then continued down to the low for the day of 176.40. This move downward was a breakthrough of the support level at 1.81. The next support level is 1.75.
However, with no more negative (bullish) news, we could see the market quickly drop below 1.60. Monday could be a small up day or a dramatic down day, depending on where the bears looking. Now I feel I am out on a limb and the saw is between me and the tree. Not good! We will see what happens.