FuturesCom

FuturesCom Investment Publications

Dedicated to Excellence in Analysis of Futures Markets
Bi-Weekly Investment Outlook (BW) Sunday Dec. 19 1999

Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs

Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and More

Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988

5845 Autumn Ridge Rd Lake Worth Florida 33463 Voice 561-433-2995 Fax 561-433-9243 http://www.futurescom.com

"Among the hazards of speculation the happening of the unexpected -I might even say the

unexpectable - ranks high. There are certain chances that the most prudent man is

justified in taking - chances that he must take if he wishes to be more than a mercantile

mollusk--" Reminiscences of a Stock operator.

Sunday, Dec 19, 1999

05:30 AM

The Sensational Stock and Bond Markets

March SP500

On the DownSide Nearby Support is at 1441 and 1437. A close under 1437 is

negative and augurs for a test of 1421 and the 1418 to 1415 region. Under that support should appear near 1399 Below that support should appear near 1383 to 1380 which should stop a decline for a bit. A close under 1383 is negative and augurs for slip

towards the 1377 level and eventually 1363 to 1361.50 Traders can buy at 1361.50 and hold for higher prices.

Nearby Resistance is at 1453 to 1456 and 1459 to 1465.50 Above that Resistance is at 1471.5 and 1479.. Traders can sell at 1471 and risk a close over 1479 for three days in a row. Beyond that sellers should appear near 1484 then 1490 to 1496.. a close over 1496 is friendly and augurs for a test of the 1512.5 and the 1529 to 1535 region where good sellers should appear and Cap the rally. Traders can sell at 1529 and hold for lower prices.

Traders should go short if a close under 1437 occurs

Traders should Stay Tuned for SP500 Flashes

Dow Jones Industrial Avg.

Support is 11,255 and 11,212. A close under 11,255 is negative and augurs for a test of 11,2212 then 11,155 and eventually 11,087 under that support should appear near 11,010 to 10,975 and 10,960.

Resistance should appear near 11,300 to 11,330 and 11,360 which should continue to provide good resistance and cap a rally for the time being. Beyond that sellers should

appear near 11,430 and 11,500. Beyond that sellers should appear near 11,640

to 11,690.

Cash NASDAQ

Support is at 3743 to 3736 , a close under 3736 augurs for a slip to 3682 to 3663 and the 3623 to 3613 region Below that a test of 3588 is likely.

Nearby Resistance is at 3795 to 3806 and 3858 to 3867. Beyond that some sellers should appear near 3909 to 3929 and the 3982 to 3992 region which should cap the rally for a bit. Beyond that resistance is at 4019 and 4046 to 4056

March Bonds

On The DownSide nearby support remains at 91-21 to 91-16. A close under 91-21 is negative and augurs for a test of 90-23 and eventually the 90-07 region

Where Aggressive Traders can buy at 90-07 and risk a close under 89-23 for three days in a row. Below that support is at 89-17 to 89-07 and the 88-26 to 88-21 region

Which should contain a decline for a bit.

On the Upside Nearby 92-06 and 92-17 then 92-22 to 92-29. Beyond that sellers should appear near 93-08 and 93-22 to 93-28 Traders can sell at 93-06 and risk a close over 93-22 for three days in a row . Above that resistance is at 94-06 to 94-12 and 95-09 and 95-22...

Traders should go short if a close under 91-21 occurs.

Trade accordingly...

On the Frenzied Forex Front

March Japanese-Yen

Nearby Support should appear at 9823 Under that support should appear near 9780 and the 9737 to 9706 region where buyers should appear and stop a decline. Traders can buy at 9737 for a good turn higher and risk a close under 9702 for two days in a row .. Below that good buyers should appear near 9674 and 9641 to 9625

Nearby Resistance is at 9837 and 9879 beyond that a test of 9921 to 9937 is likely. However A close over 9937 is friendly and augurs for a test of 9981 and likely the 10021 to 10037 region. Beyond that resistance is at 10070 and the 10104 to 10120 region

Traders should go long is a close over 9837 occurs. ....Stay Tuned for Flashes

March Swiss

Nearby Support is at 6337 and should begin to hold, under that support is at 6302

below that 6270 to 6257 should contain a decline in the near term ..Traders can buy at 6302 and risk a close under 6257 for three days in a row. Under that buyers should appear near 6223 and 6190 to 6165...

Nearby Resistance is at 6386..A close over 6386 is friendly and augurs for a test of 6417 to 6430 and 6457.. Beyond that sellers should appear near 6482 to 6509.

Beyond that sellers should appear near the 6577 to 6591 region. Traders can sell at 6577 and hold for lower prices. Above that sellers should appear near 6626 and 6659 to 6673.

Traders Should go long if a close over 6386 occurs.

Stay tuned for Flashes...

March British Pound

Support should appear near 1.5998. Under that support at 1.5926 should bring out

buyers.. Traders can buy at 1.5928 for a good turn higher , risk a close under 1.5926 for two days in a row. Below that 1.5760 to 1.5690 should hold. Traders can buy at 1.5760 and hold for higher prices..

Resistance is at 1.6090 to 1,6120 . A close over 1.6090 is friendly and augurs for a test of resistance at 1.6150 and the 1.6202 to 1.6226 region. Beyond that resistance is at 1.6286 and the 1.6420 region .. Traders can sell at 1.6420 hold for lower prices. Initially Risk a close over 1.6486 for two days in a row.

Traders should go long if a close over 1.6090 occurs..

Trade Accordingly and stay tuned for Flashes..

March Canadian Dollar

Nearby Support is a 6755 to 6741, A close under 6741 is negative and augurs for a slip to 6707. Below that buyers should appear near 6673 to 6659 and 6626.

Traders can buy at 6659 for a bounce , risk a close under 6624 for tow days in a row.

Resistance is at 6783 and 6809 , Traders can sell at 6809 for a turn lower, risk a close over 6836 for two days in a row. .. Beyond that sellers should appear near 6872 to 6882. Above that sellers should appear near the 6906 to 6919 region ..

Traders should go short if a close under 6755 occurs.

Stay tuned for FuturesCom's Forex flashes

Precious Metals

Feb Gold

Nearby Support is at 285.1 Traders can buy at 285.10 and hold for higher prices.

Below that support should appear near the 282.90 to 2828 and the 277.5 to 275.8

region Under that 272.4 to 271.6 should contain the decline.

Resistance is at 287.4 to 288.3. a close over 288.30 if friendly and augurs for an eventual test of 292.8 to 293.7 and beyond towards the 297 to 299 region

Traders should go long if a close over 288.30 occurs.

March Copper

Nearby Support is at 8405 to 8390 under that buyers should appear near 8315 to 8300 and the 8225 to 8190 region, traders can buy at 8225 and hold for higher prices ..Risk a close under 8115 for three days in a row. Under that 8045 to 8030 should hold.

Nearby Resistance is at 8485 to 8505, a close over 8505 is friendly and augurs for a test of 8560 to 8590 then 8655 and eventually the 8760 to 8775 region Beyond that

sellers should appear near 8855 to 8870 and cap a rally.. Traders scan go short at 8855 for a turn lower and risk a close over 8965 for two days in a row..

March Silver

On the DownSide, support should appear near 523.5 and 521.5 to 520

Traders should buy at 521.5 and risk a close under 512.5 for three days in a row. Below that support is at 499 and the 492.5 to 491 region Aggressive Traders can buy at 492.5 and hold for higher prices.. Under that buyers should appear near the 486 to 484 region .

On the Upside. Nearby resistance is at 528 to 531. Beyond sellers should appear near the 534.5 to 536 region Above that a test of 549 to 555 and the 564 to 565.5 region

is likely. If it holds.

Traders should go long if a close over 528.5 occurs.

Stay tuned for Flashes...

The Exciting Energies

Feb Crude

Resistance is at 2663 to 2672 . A close over 2663 is friendly and indicates a test of

2716 to 2724 and eventually the 2758 to 2772 region.. Above that sellers should appear near 2820 to 2829 and the 2875 to 2885 region then 2928 to 2937 which should cap the rally for a bit..

Nearby Support is at 2642 then 2620 to 2612 and 2590 Traders can buy at 2621 and initially plan on risking a close under 2589 for three days in a row. Below that good buyers should appear near 2568 to 2552 and 2519 to 2511 then 2469 to 2461 and the

2419 to 2411 region.

Trade Accordingly and Stay Tuned For Flashes..

Feb Unleaded Gas

Resistance should appear at 7170 and the 7242 to 7256 region Beyond that a test of 7325 to 7345 is likely.. A close over 7345 is friendly and augurs for a test of 7420 and the 7486 to 7513 region..

Nearby Support is 7140 then 7090 to 7070 . Below that support is at 7005 to 6990 and near the 6885 region which should contain a decline in the near future.. Traders can buy at 6885 and risk a close under 6805 for three days in a row. Below that buyers should be evident near the 6755 to 6740 region and near 6710.

Feb Heating Oil

Resistance is at 6873 then 6905 to 6920 Beyond that sellers should appear near the 6990 to 7005 region. A close over 7005 is friendly and augurs for a test of

7075 to 7090 and the 7140 to 7170 region..

Nearby Support is at 6836 to 6809 then 6755 to 6741 Below that Buyers should appear near the 6673 to 6659 region and should contain a decline in the near term..Traders can buy at 6673 for a turn higher, risk a close under 6575 for three days in a row.

Trade Accordingly. and Stay tuned for Flashes

The Grand Grains

March Beans

Support is at 457 and 451 1/2 to 450 1/4 area. Under that support should appear near 447 3/4 and the 444 3/4 to 442 3/4 region.. Below that buyers should appear near 438 to 437 , Traders can buy at 438 and hold for higher prices.

Nearby Resistance is at 463 3/4, A close over 463 3/4 is friendly and augurs for a test of 4691/2 to 471 ..Beyond that resistance is at 477 1/2 to 478 3/4 above that good

sellers should appear near the 4841/4 region

Traders should go long if a close over 463 3/4 occurs.

Stay tuned for Flashes

March Soybean Meal

Support is near the 142.1 to 141.5 Traders can buy at 142.6 and hold for higher prices.. Under that 138.3 to 137.7 should hold.

Resistance is at 145.3 to 145.9 then 148.4 to 149.6 and 150.8 Beyond that a test of 152.9 to 153.50 is likely.

March SoyBean Oil

Resistance is at 1609 to 1615 and 1642 to 1655 then 1689

Support is at 1576 to 1569 and 1552 then 1535 to 1529 and 1496

March Wheat

Resistance is at 250 1/2. A close over 250 3/4 is friendly and indicates a test of 256 1/2. Beyond that resistance is at 262 1/2.. Above that Sellers should appear

near 269 3/4.

Support is at 241 1/4 and 237 to 235 below that support is at 232 to 231 1/4 and the 227 1/2 to 226 1/2 region which should contain a decline for a bit.

Traders should go long if a close over 250 1/2 occurs

March Corn

Resistance is at 203 1/2 to 204 1/4, a close over 204 1/4 is friendly and indicates a test of 208 to 208 3/4

Support is at 199 3/4 to 198 1/2 under that 195 1/4 to 194 3/4 should hold and contain the decline for a bit.

Trade Accordingly.

The Satisfying Softs

March Cotton

On the DownSide Support is at 4886 then 4856 to 4834 and below that support is at 4786 to 4775.

Resistance is at 4926 , a close over is friendly and augurs for a test 4974 to 4995 and the 5035 to 5065 region Beyond that sellers should appear near the 5127 to 5139

region.

Traders should go long if a close over 4930 occurs.

March Sugar
Support is at 586 to 582 region .. Traders can buy at 586 and risk a close under 582 for three days in a row. Below that support is at 562 to 559 and 538 to 534 which should contain a decline. Traders can buy at 538, for a turn higher and risk a close under 534 for two days in a row.

Resistance is at 593 then 601 to 609, a close over 593 is friendly and augurs for a test of 630 to 634 Beyond that sellers should appear near 656 to 661. Above that good sellers should appear near 682 to 686.

Traders should go long if a close over 593 occurs..

Trade Accordingly

March 'the Monster' Coffee
On the DownSide, support is at 131.10 to 130.40 Which should hold and contain a

decline for a bit Traders can buy at 131.25 and hold for higher prices.. Under that 127.40 to 126.80 offers support Below that buyers should appear near the 123.80 to 123.20 Under that support is at 121.75 and the 120.30 to 119.20 region Below that buyers should appear near 116.90 to 116.40

On the Upside, Resistance remains near 133.40 to 134.6,. a close over 134.60 is friendly and augurs for a test of 137.70 to 138.30 and eventually the 141.5 to 142.10 region .. beyond that a touch of 145.3 to 145.9 and beyond towards 149.6

Traders should go long if a close over 134.60 occurs

Trade Accordingly and Stay Tuned for Flashes

March Cocoa

Resistance is at 847 to 852 A close over 852 is friendly and augurs for a test of the 877 to 882 region. An extended trade or close over 882 indicates a test of the 907 to 912

region. Beyond that good sellers should appear near 932 to 941. Traders can sell at 932 and risk a close over 942 for two days in a row.

Support is at 833 under that 823 to 814 offers support .. Below that buyers should appear near 795 to 791 and the 767 to 763 region. Traders can buy at 776 and risk a close under 763 for three days in a row. Below that support is at 739 to 735..

Traders should go long if a close over 852 occurs.

Stay Tuned for Flashes.

The Lively Livestock

Feb. Cattle

Support is at 6852 under that support should appear near 6807 and 6782 region where Aggressive Traders can buy at 6787 and risk a close under 6727 for three days in a row. Below that support is at 6757 to 6742 and the 6707 region under that 66732 to 6657 should hold.

Resistance is at 6877 and 6902 to 6922, above that sellers should appear near 6987 and the 7002 to 7017 region.. A close over 7017 is friendly and augurs for a test of 7077 to 7087 and 7127 to 7142.

Feb Hogs

Support should appear near 5577 to 5552 and 5507 to 5492.. Under that buyers should appear near 5432 to 5417.. Traders can buy at 5432 and hold for higher prices.

Under that support is at 5357 to 5342 and 5282 to 5257 then 5212.

Nearby Resistance should appear near 5637 to 5652.. .A close over 5652 is friendly and indicates a test of 5717 to 5727 then 5792 to 5802 and eventually the 5857 to 5882

region. Beyond that sellers should appear near 5945 to 5957 and the 6022 to 6037

region..

Feb Bellies

Resistance should appear near 7837 to 7862 , a close over 7862 is friendly and indicates another test of 7937 to 7952 and ,most likely the 8027 to 8047 region . A close over 8047 is bullish and indicates and eventual test of 8192 to 8222 and 8482 to 8502.

Support is at 7777 to 7762 and 7687 to 7672. Traders can buy at 7692 and hold for higher prices... Under that 7602 to 7587 should hold provide support . Below that

support is at 7517 to 7487 and 7427 to 7417 and 7342 to 7327.. Traders who have ice water running through their veins can buy at 7342 and hold for higher prices.. Under that Buyers should appear near the 7252 to 7242 and stop a decline.

Traders should go long if a close over 7862 occurs.

Stay Tuned For Flashes in the Pork complex..

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading

Bill

Dec. 19 1999
12:39 PM

THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT WHERE OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS. REQUIRED PRIOR TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING IS RISKY AND CAN CAUSE SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING INVOLVES A HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SOURCES ARE BELIEVED TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK DISCLOSURE IS AVAILABLE.

FuturesCom Totals as of 12-17-1999

Starting Total value Feb 1997 $ 55,000.00 (BW only)
Combined Value Feb 1998 $ 156,863.95 (BW Only)
Combined Value Feb 1999 $ 510,797.05 (BW and Premier only)
Combined Value 10-08-1999 $ 806,192.10 (BW, MC and Premier)
Combined Value 10-23-1999 $ 845,112.95 "
Combined Value 11-05-1999 $ 921,044.40 "
Combined Value 11-19-1999 $ 905,468.70 "
Combined Value 12-04-1999 $ 957,790.90 "

Current Value 12-17 -1999 $ 1,004,062.25 "

12-17-99 BW recommended Open Pos. and Value
http://www.futurescom.com/bwparc.htm

2-12-99 Value 55,000.00

8-28-1999 Value 73,310.55

9-12-1999 Value                                92,866.35
9-24-1999 Value                                81,150.20
10-08 -1999 Value                               91,406.15

10-23-1999 Value 86,586.60

11-05 -1999 Value 102,430.70

11-19-1999 Value 95,551.35

12-04 -1999 Value $ 113,090.25

12-17 Current Value $ 121,539.10

Recommended Open Positions NONE

MC recommended Open Pos. and Value
http://www.futurescom.com/mcperf.htm

2-12-1999 Value 51,708.10

8-28 Value 92,507.60

9-12 Value                                       102,611.20
9-24 Value                                       103,069.50
10-08 Value                                      113,686.70

10-23 Value 107,552.10

11-05 Value 126,830.70
11-19 Value $124,088.10

12-04 Value $ 132,000.15
12-17 Value $ 144,625.15

Recommended Open Positions 12-17 NONE

12-17-99 Premier recommended Open Pos. and Value
http://www.futurescom.com/premier.htm

2-09-1998 Value 101,863.95

2-23-1999 Value 404,088.95

Aug. 1 1999 Value 549,583.85

Aug 15 Value                                   583,476.55
Aug 28 Value                                   577,238.55
Sept 12 Value                                  593,734.25

Sept 24 Value                                  537,309.25
Oct 08 Value                                    601,099.25
Oct 23 Value                                    650,974.25

Nov 5 Value 691, 783.00
Nov 19 Value $ 685,829.25

Dec 04 Value $ 712,700.50
Dec 15 Value $ 737,898.00

Recommended Open Positions as of 12-17

Long 4 March yen at 9861 avg

Long 5 Feb Gold at 282.1
Long 7 Feb Bellies at 7747 avg
Long 5 Feb Hogs at 5705

Long 2 March Coffee 123.55 avg
Long 7 june hogs at 6400 avg

Long 2 March Silver 527.5

Material Assumptions:
Beginning Value was established at $55,000 Feb. 12 1997.

Each trade is derived from FuturesCom's Bi-Weekly Investment

Outlooks, Morning Comments, Premier Flashes, Flashes and UpDates that pertain to the same. The slippage and fees are computed at $ 50.00 per round turn trade, and charged upon exit. Prices are derived from Entry and exits of related Futures Contracts.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS., SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT , THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKET IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS..

is Not Responsible for Transmission Errors and omissions