7/7/11 – Coffee Holding Co Inc (JVA) *possible high-tight flag*

This is the first real experiment with the $1,000.00, and so far is quite exciting! I purchased 45 shares Coffee Holding Co Inc (JVA) for $21.80/1 share at approximately 3:20 PM on 7/7/11. Right now (7/8/11), JVA is trading for about $24.70/1 share, which is about +10.5%  for the day from an opening of $22.29/1 share. At one point while I was typing, JVA reached as high as $24.88/1 share for a 14.13% price gain off of my buy point. This stock has been lighting up the boards on my research and my only regret is not noticing this earlier. In June, this stock made a tremendous 100% price run and then began forming a 3-week flag. I bought the stock in a inter-day dip based off of my analysis of the past two days of the stock’s price/volume action. Using my research, I predicted that the stock would dip around 2/2:30-ish and run back up beginning around 3:20/3:30-ish. It did, which substantiated my initial gain of about 2.5% in the last 40 minutes of the market on 7/7/11. The market today, despite horrible jobs data, did not seem to throw JVA off of it’s course. I can only interpret this as a sign of strength.

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