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.

Saturday, March 21, 1998
3:23:28 PM

June J-Yen
June Yen should find support at 7713 then 7689 to 7675 . Traders go long at 7689 for a 2- day bounce, risk a close under 7670. Additional downside support should appear at 7601 to 7587 Hearty Traders can buy for a position at 7601. Risk a close Under 7570 for three days in a row. Resistance should appear early at 7757 to 7777 and 7790 where short term traders can sell for a quick turn lower and risk a close over 7808.. Beyond that 7836 to 7864 A close or extended traded over 7757 / 7763 is friendly, traders should go long if a close over 7757 occurs. More Resistance should appear at 7914 and 7939 to 7954 beyond that 8057. If a sharp rally occurs Traders can go short at 8194 for a turn lower , risk 50 pts on a closing basis.

June Swiss Franc
Support should appear at 6741 and 6730 below that support should appear at 6793 to 6673 where traders should Go long for a two day bounce at 6675. Risk a close under 6659 for two days In a row. Resistance should first begin at 6755 to 6759.. Traders can Sell there for a quick turn lower , risk a trade over 6791... A close over 6809 augurs for a 'pop' to 6906 / 6937 beyond 6950 and 7002 are likely to trade. A close over 7003 augurs for a Thrust to 7074.

Traders should go long if a close over 6809 occurs.

June British Pound : Recommended Position short at 164.20
Support is at 165.50 then 164.86 and 164.20. Resistance is at 166.70 and 167.70 A close under 165.80 augurs for a test of 164.20..

June D-Mark Recommended Position long at 5475
Early support is at 5478 and the 5461 to 5455 region , with 5430 below that where day traders can buy at for a bounce, risk a trade under 5402. Resistance is at 5492 to 5505 with 5553 to 5577 beyond that. A close over 5505 is friendly , traders should go long if that occurs. Additional Resistance is near 5581 and 5589 early in the week. Beyond that 5597 and 5640 offer's resistance. Traders should sell at 5649 for a quick 'day' turn lower, stay tuned.

Trade Accordingly

June Canadian Dollar
Support is near the 7047 to 7039 region and 7025 to 7003 where traders should buy at 7004 , risk a close under 6990 for two days in a row. Resistance is near 7062 and 7088 to 7097. Traders can short at 7088 for a turn lower, risk a close over 7097 for two days in a row. Beyond that Resistance is near 7143

April Gold Recommended Position long at 388.5
Good Support is near 291.3 and 289. Below that 274 should hold. Day Traders can Buy at 290.8 risk $ 4.00 Resistance is 294.9, a close over 295 is friendly for a rally to 300.8 and 303.7, traders can go long or add on a close over 301.0. Beyond that Resistance is at 310.8 and 314.5

Friendly, Buy Dips.

May Copper Recommended Position Long at 7935.
Early Support is at 7990 below that 7960 and 7865 to 7840. Traders can buy at 7865 for a good bounce , risk a close under 7765 for three days in a row. Resistance is at 8045 to 8120, a close over 8045 is friendly for a 'pop' to 8190 beyond that 8300 to 8355 offers resistance as does 8575.

April Platinum
Support is near 411.8 and 403.5. to 401/399.. Traders should go long at 401 for turn towards the trend higher. risk a close under $ 393. Below that 388 to 382 should stop a decline. Resistance is at 413 to 414. A close over that is friendly. Beyond that 418.5 offer's resistance. As Does 440. If the Platinum Glitters again and Surges the 'Upside' target is 458.20

Long Term Friendly

May Silver Recommended Position Long at 627
On The Downside: Support is at 591 below that 577 should hold. Go long at 577 for a bounce and stay tuned. Beneath 577 the 540 region offers support.
On the Upside resistance is at 616 , a close over 616 augurs for a test of 657.. As long as May silver maintains a posture above 592 this is likely to occur.

Be Long

May Crude
Early support is at 1433 and 1422. Aggressive traders can buy at 1421 , risk 15 cents. Beneath that a trade down to 1376 is likely .. and where more support should surface. Resistance is at 1473 and 1484 to 1496. A close over 1472 augurs for test of 1496 and the 1510 region beyond that 1578 offers resistance , traders can short at 1576 , initially risk a close over 1615. If a trade to 1678 occurs go short for a turn , risk a close over 1697.

April Unleaded Gas
Support should begin near 4927 a failure there augurs for a slip towards 4820 and 4745 below that 4510 should stop a decline. Resistance is near 5130 and 5170 to 5200. Traders should sell short at 5335, initially risk a close over 5415 for three days in a row.

May Heating Oil
Support is near 4080 to 4055 and 3930. Below that 3770 should hold. Resistance near 4280 and 4320 to 4410. Traders can go short at 4410 , risk a close over 4450 for two days in a row.

May Soybeans Recommended Position long at 661 Support is at 638 and 624. Resistance is near 648 and 652 A close over 649 is friendly

July Soybeans Recommended Position long at 663 Early Resistance is at 652 and 654, beyond that 660 and 668 to 672. Support is at 657 and 645, a close under augurs for a test of 641 and 639 , below that 632 should to 632 should hold. A close over 646 is friendly , over 652 augurs for a test of 655 to 662.

Long Term Friendly..

May Soybean Meal
May Meal Closed on contract lows, according to the Weekend Rule it should open lower.. Support is 163.90 , where hearty traders should probe the long side for a bounce, risk a trade under 159.9. Resistance begins at 167.40, a close over that augurs for a test of 170.50 with an eventual 177 more likely than not if it holds. Sell short for a turn lower at 177.30, risk a close over 182.

Traders should go long on a close over 167.40 ...

May Soybean Oil Recommended Position Short at 2724.
Early support is at 2758 to 2756 , a close under augurs for a slip to the 2665 region where traders should have Buy orders waiting for a bounce, buy at 2672, risk a close un-der 2662 for three days in a row. If that fails , a dip to 2571 is likely. Resistance is near 2775 and 2789 to 2799. Beyond that 2857 should trade.

May Corn Recommended Position Long at 271,276 3/4, 279 3/4 and 275. Risk a close under 261 1/4 today only.
Support is should appear near 262 1/2 to 261 Resistance is near 265 1/2 a close over 265 1/2 augurs for a test of 267 and 272. Aggressive traders can buy at 262 1/2, risk 3 cents.

May Wheat Recommended Positions , long at 338 3/4
Support is at 325 3/4 and 319. Resistance is near 329 3/4 and 330 1/2 to 333 A close over 333 augurs for a trade to 338, beyond that 343 offers resistance as does 350.

July Wheat Recommended Position Long at 342
Resistance begins near 339 1/2 , a close over 340 augurs for a test of 343, beyond that 349 and 353 offer resistance. Support should surface at 336 1/4 and 332 3/4. Below that 331 3/4 to 330 and 327 should hold.

May Cotton
Support is 6845 to 6837 under that 6755 should hold. Traders can go long at 6775. Risk 100 pts basis the close. Resistance is 6965 and 7025, beyond that 7120 and 7220 offer resistance. Go short at 7205 , risk a close over 7260 for three days in a row.

May Sugar
Nearby support is 971 and 940 traders can go long at 941 for a quick turn higher, risk a close under 926. Below that 907 to 912 offer support. Resistance is near 1000 and 1005 to 1011 and 1020. Beyond that Sell short at 1032, risk a close over 1037 for three days in a row. Beyond that 1058 to 1068 offer resistance.

May Coffee Recommended Position long at 153.30 and 147.50
On the Downside, Early support is at 145.90 to 145.30 , below that 143.15 offers support buy at 143.20 for a bounce higher ...put your own risk on it and stay tuned ..Below that 142.10 to 141.50 offers support.
On the Upside, Nearby Resistance is 148.40 and 149.60 to 150.10, a close over 150.190 augurs for a test of 15.90 to 153.50 , beyond that a trade to 156.90 and 157.60 is likely with an outside chance of touching 158.70. if a close over 157.60 occurs the next resis-tance region would be near 160.90 and 164.20 then 168.60.

Still Friendly.

Pick Your Poison and Keep a Steel 'Cup’ handy.

May Cocoa
Resistance is 1680, a close over augurs for a rally to 1730 to 1747. Beyond that a trade to 1774 to 1780 should occur. Support is near 1655 and 1642. Traders can buy at 1655, risk a close under 1615 for two days in a row. Below that support should appear near 1609 and 1583 where hearty traders might be tempted to probe the long side ..Buy at 1576 risk a close under 1569 for two days in a row.

Traders should go long on a close over 1680.

April Live Cattle
Recommended Position Long at 6575. Resistance is at 6502 and 6540. A close over 6502 is friendly for a rally to 6657. Additional nearby resistance should appear at 6540 and 6567, beyond that 6657 should trade. Above that 6812 offers resistance. Support is at 6427 and 6390, below that 635 should hold.

June Cattle
Support is near 6657 and 6612. Resistance is at 6737 , a close over 6737 augurs for a 'pop' to 6810.

Traders should go long at 6657 .. stay tuned..

April Hogs
Good Resistance is at 5257 and 5417 Support is near 5072 and 4977. Traders should Go long at 4987 and hold.

June Hogs Recommended Position long (2) at 5762 Support is at 5772 and 5677 where traders should buy for the 'pull' below that 5582 should hold .. trade accordingly. Resistance is near 5857 and 5967 to 6002 with a likely test of 6100 if it holds.

Recommended Spread Position long June short Oct. at 290 June over Oct. Hold.

May Bellies Recommended Position Long (2) at 4490 Hold
The Cold Storage was reported by the USDA at about 55.3 mil lbs and was considered neutral by traders. This week early Support is near 4482 , below that 447 to 4425 offers support, with criti-cal support at 4357 and 4272. Traders an buy at 4382 for a bounce , risk 150 pts. Below that Below that 4187 and 4082 offer good support. Resistance is near 4642 4695 to 4717. Beyond that 4857 and 4952 offer resistance . A close over 4647 is friendly for a rally to 4857. A close over 4957 augurs for a test of 5252.

'From the Frying Pan into the Fire'

June 30 Yr. Bonds Recommended Position Short at 120.31
Near Term support is at 120-26 and 120-14, below that 120-08. A close under 120-08 augurs for a slip to the 119-08 region, A close under 119-08 augurs for a test of 116-31. Resistance is at 121-08 and 121-18 Beyond that a trade to the 122-08 122-14 region is likely, above that sell at 123-123-11 and hold.

June SP500
On the Downside, Early Support is near 1105 to 1104.50 and 1102.60 to 1101.70. A close under 1105 indicates a slip towards 1101.70 then 1096 to 1095.60 below that 1085 and 1082 to 1079.80 offer support. A close under 1080 augurs for a test of 1068 to 1058. Any close under 1058 indicates further selling down to the 1049 which should hold for now..however if it does not 1036 to 1032 should trade.. Below that 1013.60/ 1013.10 region with 1012.00 and 1010. Offer good support. Traders can Buy at 1012.90 for a bounce , stay tuned.

On the Upside, Resistance is at 113.60 then 115.50 to 1117.70, sell short at 1115.50 risk a trade over 1118.20 Beyond that 1130 to 1136 offers resistance ...traders can sell at 1130, risk 400 pts. Beyond that 1136 is likely. above that 1150 is likely to trade.

* A close under 1105 is negative, if this occurs traders who have 'Ice Water Running through their Veins'. should Go Short.

The Dow Jones Industrial Average
Initial support is 8901 below that 8871 to 8856 and 8847 must hold basis the close . A close under 8847 augurs for a test of 8790 to 8777 below that 8762 must hold or a slip to 8683 / 8668 and 8642 may occur. Resistance is at 8934 and 8964 to 9004 Beyond that sellers should appear near 9044 to 9060 and 9140 to 9156 beyond that 9236 may Cap the Rally for a bit..

I will issue recommendations for the Original BI-Weekly ( refer to it as BW-I ) Monday , also an Update on The Pig Special Report will be sent this week.

Happy Trading Bill

Saturday, March 21, 1998 10:42 PM

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