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Microcap & Penny Stocks : Gourmet's Choice Coffee Co. - GMCH -- Ignore unavailable to you. Want to Upgrade?

To: LORD ERNIE who wrote (2140)	7/19/2000 9:39:53 AM
From: George Castilarin	Read Replies (1) \| Respond to of 2161

Does anyone here know much about coffee prices, and how to play them. The frost in Brazil seem like it will sent the prices through the roof. July 18, 2000 CLOSING N.Y. COFFEE: SEPTEMBER EXPLODES TO $1.2200 Coffee futures exploded higher since the opening, reaching a high of $1.2000 and early in the afternoon, September delivery reached the session high of $1.2200, erasing some gains in profit taking by the close. December delivery reached a session high of $1.2485 late in the session, also erasing some of the gains by the close, but both closed with huge gains in wild action as is usual in a weather-related market, traders said. "Severe frosts in Brazilian coffee areas are in the market and participants think that September delivery could easily reach $2.7800 by the end of the month and could even go higher to test the lifetime highs of coffee prices in the New York market (CSCE), of $3.3800, high reached 25 years ago today, on July 18, 1975, when a black frost hit the Brazilian coffee growing areas," an analyst said. "Now, everybody is buying September and December contracts as they see prices being very cheap now and they could easily be duplicated by month's end so they are analyzing how and when the strong rally caused by the black frost in 1975 started, and reached the $3.3800 high," the analyst added.