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THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
800-443-2360

(March 12, 2002) COFFEE: This group has gone from the outhouse to the penthouse this year. Coffee and cotton reached some 40-year lows last year and cocoa about a 50-year low in early 2001. Coffee took off, closing at 5415 for May futures. I mentioned a few months back and almost weekly since that I had seen numerous reports of producers abandoning the crops. And why not, if producing it will guarantee that you will lose about 20 cents a pound. A pull back now should hold over 5070 and futures may see 6500 within a month as traders are finally taking this market more seriously. A trade past 5700 should get the funds buying and this is why I do believe a trade through there will start a quick run to 6500, and possibly 7000.

William Frejlich

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