November 1st=20 1998
Dedicated to Excellence in Analysis of Futures
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. 
Featuring Bi-Weekly Investment = Outlooks, Special Reports, Morning Comments =
Experienced Since 1979 & Serving Professional Individual Futures Traders World Wide since 1988
5845 Autumn Ridge R
d Lake Worth Florida 33463 USA   561-433-2995 http://www.futurescom.com =20


"A man can have great mathematical ability and unusual power of = accurate=20 observation and yet fail in speculation unless he also possesses the = experience=20 and memory. "
-Reminiscences of a Stock=20 operator- 

Sunday November 1st 1998

06:22 AM

On the Frenzied Forex Front

Dec. Japanese-Yen

Early Support is 8668 and 8576, hearty traders can buy = at 8668.=20 Risk a close under 8576 for three days in a row. Below that 8560 and = 8508 to=20 8499 offer support. Traders can go long at 8499 for a turn higher. Risk = a close=20 under 8484 for three days in a row. Below that support should hold at = 8406 to=20 8391.
Resistance is at 8720, a close over 8720 is = friendly and=20 augurs for a test of 8777 and 8834. Beyond that a test of resistance at = 8934 and=20 9044 to 9060. Is likely.
Above that good sellers should appear at = 9240 to=20 9256. Traders should sell short at 9240 for a turn lower, risk a close = over 9256=20 for two days in a row..

Dec. D-Mark Recommended position short at 6011

Resistance is at 6084 and 6098 to 6113 and 6134. A close = over 6113=20 augurs for a test of 6165 to 6190. Traders can sell at 6165 for a turn = lower,=20 risk a close over 6190 for two days in a row. Beyond that a test of 6257 = to 6270=20 is likely.

Support is at 6035 to 6023 and 5998 to 5984. Traders can go = long at=20 5998 for a turn higher , risk a close under 5957 for three days in a = row. Below=20 that support is at 5945 and 5880. Hearty traders can buy at 5880 and = hold for=20 higher prices.

Dec. Swiss

Resistance is at 7443 and 7498 to 7513. A close over 7513 = augurs for=20 a likely test of 743 then 7587 to 7601 and 7688 to 7694. Beyond that = resistance=20 is at 7709. A close over 7709 augurs for a test of 7763 to 7777 where = good=20 resistance should appear and cap a rally. Traders can sell short at = 7770, risk a=20 close over 7777. For three days in a row.

Traders should go long if a close a close over 7443 occurs. =

Support is at 7428 to 7414 then 7398 to 7393, traders = can buy at=20 7398 and risk a close under 7342 for three days in a row. Hearty Day = traders can=20 Buy at 7342 and hold for higher prices... Below that support is at 7328 = Below=20 that 7298 should hold basis the close for a bit.

Trade Accordingly

Traders should prepare for higher D-Marks and Swiss Francs toward the = Middle=20 of November..

Dec. British Pound recommended position long at 1.6890 =

Support is at 1.640 and 1.6550. Traders should buy at 1.6550 = and=20 hold for higher prices, risking a close under 1.6420 for three days in a = row.=20 Below that support is at

1.6260 and 1.6150

Resistance is at 1.6740 and 1.6890 to 1.6960, A close over 1.6960 = augurs=20 for a test of the 1.7310 to 1.7380 region which should cap a rally for = now.=20 Traders can sell short at 1.7310 risk a close over 1.7400 for two days = in a=20 row.

Dec. Canadian Dollar

Nearby Support is at 6456 and 6430 to 6417 and 6406. A close = under=20 6417 augurs for a test of 6350 to 6337 and 6272 to 6257. Traders can go = long at=20 6272 and hold for higher prices, initially risking a close under 6257 = for three=20 days in a row.


Resistance is at 6483 and 6495 then 6506. Traders can sell = at 6506=20 for a turn lower, risk a close over 6509 for three days in a row. Beyond = that a=20 test of 6577 to 6591 and 6673.

Trade accordingly.

 

Precious Metals

Dec. Gold Recommended position Long at 301 and 298.10 =

Support is at 292.50 and 291.70, a close under 291.70 augurs = for a=20 test of 289 and 288.30. Traders can Buy at 288.30 and risk a close under = 282.10=20 for three days in a row.

Resistance is at 294.30 and 295.70. A close over 294.30 is = friendly=20 and would indicate a test of 297.60 and 302.70 if it holds.

**Traders should go long/ add if a close over 294.30=20 occurs.

Dec. Copper: Recommended position long at 7390

Nearby Support is at 7180 and 7150 . Below that Traders can buy = at 7115=20 for a turn higher. Risk a close under 6970 for two days in a row.

Resistance is at 7380 and 7395. A close over 7395 augurs for = a test=20 of 7580.

* Traders should go long if a close over 7415 = occurs.

Jan. Platinum

Support is at 335 and 334 where it should hold basis the = close.=20 Below that support is at 329 and 327.

Resistance is at 341 and 344. A close over 344.5 augurs for = a test=20 of 350.5.

Dec. Silver

On the DownSide: Support is at 502. Traders can go long at 502, = risk a=20 close under 488 for three days in a row. Below that good buyers should = appear at=20 483.5 and 481 and stop a decline. If that fails Support at 462 should = hold.=20

*Traders should go long if a close over 508 occurs.

On the Upside. Nearby Resistance is at 508, a close over 508 = is=20 friendly for an eventual move towards the 519 to 523 region. A close = over 523=20 augurs for a test of 541. Beyond an eventual test of 550 then 575 is = likely.

Trade Accordingly.

The Exciting Energies

Dec. Crude Recommended Position long 2 at 1439

Nearby Support is at 1438....Below that support is at 1421 = and 1415=20 then 1401.

Buyers should support the mkt. near the 1383 to 1377 region. Under = that 1346=20 should hold.
Be long...

Resistance is at 1453 to 1459 and 1463. A close over 1463 = augurs for=20 a test of 1478 and eventually 1488. Beyond that resistance is near 1496 = and 1529=20 to 1535. A close over 1535 is bullish for a test of 1569 to 1576 and = eventually=20 1609 to 1615..

Trade Accordingly

Dec. Unleaded Gas recommended position long 3 at = 4430.

Support is at 4355 to 4335 Below that support is at 4235 = should=20 hold.

Resistance is at 4505 to 4515. A close over 4505 is friendly = and=20 augurs for a test of 4600 to 4613. A close over 4615 augurs for a test = of 4717.=20 Beyond that 4845 to 4860 offers good resistance, = patience..

 

Dec. Heating Oil

Resistance is at 4015. A close over 4015 augurs for a test = of 4110=20 and most likely 4240 to 4256. A close over 4256 is friendly and = indicates a=20 rally towards 4425 to 4445 and Beyond towards 4600

Support is at 3920 to 3900. Traders should consider a slip = to the=20 3920 region as a buying opportunity and go long if a dip to 3930 occurs. = Below=20 that support should appear at 3860 and 3815. Traders should buy at 3815, = risk a=20 close under 3790 for three days in a row.

Traders should prepare for higher prices into the middle of=20 November.

 

The Grande Grains

January Soybeans.

Support is at 565 1/2 and 562 , traders can buy at 565 1/2 = risk a=20 close under good support at 547 for three days in a row. Below that = support is=20 at 541 1/2. Traders can buy at 541 1/2 for a turn higher, Risk a close = under 534=20 for two days in a row.

Resistance is at 569 3/4. A close over 569 3/4 augurs for a test = of 575.=20 Beyond that a test of 589 and 597 is likely. Be long...

Traders should go long. Add if a close over 576=20 occurs...

Dec. Soybean Meal

Support is near 142.2 and 141.5 then 139.5 Traders can go = long at=20 141.5. Risk a close under 139.5 for three days in a row. = Resistance is at=20 144.8 and 147.5 beyond that good sellers should appear at 150.5. a close = over=20 150.5 augurs for an eventual test of 167...

Dec. Soybean Oil

Support is at 2469 to 2461 under that support is at 2448. =

Traders can go long at 2469 for a good bounce, risk a close under = 2432 for=20 two days in a row. Below that Support should appear near the 2419 to = 2411=20 region.

Below that 2398 should hold.

Resistance is at 2488 and 2492, A close over 2492 augurs for = a test=20 of 2511 to 2519. Beyond that a test of 2532 is likely. A close over 2532 = is=20 friendly and augurs for a test of 2552 to 2568. Beyond that resistance = is at=20 2612 to 2620. Traders can sell short at 2612, risk a close over 2620 for = three=20 days in a row.

Dec. Corn Recommended Position long at 219.

Support is at 218 1/4 and 217 to 216 1/2. A close under 216 = 1/2=20 augurs for a test of 212 1/4 to 211 3/4 Traders can go long at 212, risk = a close=20 under 288 for three days in row.

Resistance is at 221 3/4 to 222 1/2. A close over 223 = indicates at=20 test of 227. Beyond that 231 offers resistance. Beyond that a trade to = 237 and=20 244 is likely...

Dec. Wheat Recommended position long at 290

Nearby Resistance is at 295 3/4 and 296 1/2. A close over = 296 3/4=20 augurs for a test of 301 3/4 to 3021/2. A close above 302 is friendly = for a test=20 of 308. Beyond that a test of 314 and 317 is likely. Traders can go = short at 317=20 for a turn lower, risk a close over 322 for two days in a row.

Support is at 292 and 289 3/4. Below that support is at 284 1/4 = to 283=20 1/2 where a break should contain it self.. Traders can go long at 285, = risk a=20 close under 282 for three days in a row.

 

The Satisfying Softs
Dec. Cotton = recommended position long at 6755, and 6885

Support is at 6755 and the 6670 region. If that fails a decline = to 6610=20 to 6550 should hold.

Resistance is 6785 and 6809 to 6835. A close over 6835 = augurs for a=20 test of 6925. Beyond that resistance at 6990 to 7003 and 7070. A close = over 7080=20 augurs for a test of 7140 to 7170.

March. Sugar Recommended Position long at 786

Support is at 767 to 763. Below that 745 should hold. Under = that=20 support is at 739 to 735 then 712.

Resistance is at 785, a close over 785 is friendly for test = of the=20 791 to 795/ 799

Region where good resistance may appear. However a close over 795 = augurs for=20 a test of 814 to 823 Beyond that resistance is at 847 to 852 then 877 to = 882. A=20 close over 882 augurs for a test of 907 to 912, traders can sell short = at 912,=20 risk a close over 922 for three days in row

Trade accordingly

Dec. Coffee:

On the downside, Early support is at 109.80 to = 109.60. Well=20 Heeled Traders should take a shot and buy at 110.20 or better, risk a = close=20 under support at 107.70 for three days in a row. Below that support is = at 106.80=20 and 105.80, Below that 103.60 to 103.00 should hold. Traders should buy = at=20 103.60 and Hold...

On the Upside, Early Resistance is at 110.10 to 110.20 Beyond = that=20 resistance is at 112.70 and 113.00 to 113.60 then 114.25 and the 116.40 = to=20 116.90 region. Beyond that 117.50 offers resistance a close over 117.50 = augurs=20 for a push to the 119.20 / 120.30 region. Beyond that 123.20 offers = resistance=20 Traders can Go Short at 123.20, risk a close over 123.80 for three days = in a=20 row. Beyond that resistance should be firm at 126.80 to 127.40 and=20 128.50.

Dec. Cocoa

Support is at 1496 to = 1484 where it=20 should hold. Traders can Buy at 1496, risk a close under 1484 for three = days in=20 a row. Under that support should appear at the 1459 to 1451 / 1446 = region. Where=20 it should Hold..

Resistance is at 1512 and 1529 to 1535. A close over 1529 = augurs for=20 a test of 1546 to 1551 Beyond that 1569 to 1576 offers resistance. A = close over=20 1576 augurs for a test of 1595 then 1609/ 1615 to 1625.

**Traders should go long if a close over 1529 occurs.

 

The Lively Livestock

Dec. Cattle 

Support is at 6492 and 6482. A close under 6482 augurs for a = slip to=20 6417 to 6407 Traders can buy at 6417 for a bounce, risk a close under = 6337 for=20 three days in a row.

Resistance is at 6512 and 6527. Beyond that resistance should = appear at=20 6567.

A close over 6567 augurs for an eventual test of 6707 and 6742. = Beyond that a=20 test of 6812 is likely.

* Traders should go long if a close over 6567 = occurs.

Dec. Hogs

Support is at 3735 then 3710 to 3682. Below that 3637 to = 3612 offers=20 support as does 3597. Traders should Go long at 3627 and risk a close = under 3502=20 for three days in a row. Below that 3442 and 3387 should hold...

Resistance is at 3802, a close over 3802 is friendly beyond = that=20 resistance is at 3817 to 3837. However a close over 3837 augurs for a = test of=20 the 3907 region. Beyond that 3937 offers resistance . A close over 3937=20 indicates a test of 4047. Traders can Sell Short at 4047 and risk a = close over=20 4122 for two days in a row. Beyond that resistance is at 4182 and 4242.=20

Recommended Spread Long 5 Feb. Hogs, Short 5 April
-135 Feb. = under=20 April.

Feb. hogs Recommended position long at 4410

Support is at 4352 and 4302, traders can Go long at 4352 , = risk a=20 close under 4252 for three days in a row . Below that 4187 should hold. =

Resistance is at 4422 and 4452 then 4477. A close over 4452 = is=20 friendly and augurs for a test of for a test of 4502 and 4552. Beyond = that 4637=20 offers resistance.

Feb. Bellies recommended = position long 7=20 at 4867.

Support is at 4650 and 4637 below that support is at 4582 to = 4542. Under=20 that 4517 to 4502 should hold basis the close. Below that buyers should = appear=20 near 4487 and 4392 below that 4247 to 4237 should hold.

Resistance is at 4692 and 4717. Beyond that resistance is at = 4775=20 and 4847

to 4887 where good sellers should appear.. However a close over 4857 = augurs=20 for a test of 4917 to 4927 and 4972 to 4995. Beyond that a test of 5057 = is=20 likely.

Patience...-Stay tuned for Updates in the Meat Complex.-

--From the Frying Pan into the Fire--

The Sensational Stock and Bond Markets =

Dec. Bonds

On The DownSide, support is at 128-13 to 128-11, under that = support is at=20 128-03, if that fails 127-03 should hold. Hearty Traders can buy at = 127-04, risk=20 a close under 126-00 for three days in a row. Below that 125-25 to = 125-10 should=20 hold..

On the Upside: Resistance is at 129-03 and 129-12. A close = over=20 129-03 augurs for a test of the 130-03 to 130-11 region. Traders can = sell at=20 130-03 , risk a close over 130-18 for three days in a row. =

Dec. SP500

On the DownSide, Support is at 1104.40 and 1101. Traders = can buy=20 for a turn higher at 1104.50, risk a close under 1101 for three days in = a row.=20 Under that the 1098.50 to 1096 region hold basis the close. Below that = support=20 is at 1090.10 day traders can buy at 1090.10, put your own risk on it. = Below=20 that good support should appear at 1072.30 and 1068 An extended slip = under 1068=20 augurs for a test of 1063 then 1058 to 1057.

If 1058 fails basis the close a dip to 1047 is likely , traders can = go long=20 for a bounce at 1047, put your own risk on it.

On the Upside, Resistance is at 1112.60 and 1115.50 to = 1118.20.=20 A close over 1115.50 augurs for an eventual test of 1127.40 and the 1130 = to 1136=20 region Which should cap the rally for a bit. Traders can sell short at = 1133.50.=20 Initially Plan on Risking a close over 1136 for three days in a row. = Beyond that=20 1150 and 1165 to 1169 offer good resistance.

Stay Tuned for SP500 Updates and Flashes .

The Dow Jones Industrial Average

Support is 8589 to 8564 and 8528, which should contain an early = dip.=20 Under that support is at 8499 to 8484. A close under 8484 augurs for a = test of=20 8427 and 8406 to 8391. Under that 8324 and 8314 to 8300 offer good = support.=20 However close under 8300 augurs for a test of 8223 to 8194 then 8134 to = 8119=20 where it should hold basis the close.

Resistance should first appear at 8629 and the 8668 to 8683 = region.=20 Beyond that 8762 to 8777 offers good resistance. However close over 8777 = augurs=20 for a test of 8856 to 8871 where good sellers should cap the rally for a = bit,=20 beyond that good resistance is near the 8934 to 8964=20 region.

A ship in Harbor is Safe.. But that's not what ships are built=20 for.

Happy Trading
Bill
Sunday Nov. 1st = 1998 11:45=20 AM

Copyright@1998 FuturesCom Investment Publications
All Rights=20 Reserved
FuturesCom is Not Responsible for = Transmission=20 Errors and Omissions.

THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT = WHERE=20 OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS. = REQUIRED PRIOR=20 TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING IS RISKY AND CAN = CAUSE=20 SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING = INVOLVES A=20 HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED = AMOUNTS.=20 SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. = PAST=20 RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SOURCES ARE = BELIEVED=20 TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK = DISCLOSURE=20 IS AVAILABLE.

 

 

 

 

 

 

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