Good Eve,
The Value of our Bi-weekly Investment Outlook II on Feb. 9 of 1998 was 55,000 the Final value on Feb. 12 of 1999 was over 106,000. While the Value of our Premier Trades Service increased from 101,000 to around 400,000 during the same period.
Not Bad...considering the whole process began in Feb. of 1997 at 55,000 !!
As we continue in our efforts to provide traders with what we feel is the BEST Trading Service available we have a couple of subtle yet important changes to announce
The name of the Bi-weekly Investment Outlook II will now be just Bi-Weekly Investment Outlook.
We are now tracking the Bi-weekly Investment Outlook $ 55,000, the excess will be used to track the Morning Comments day trades and any up to minute flashes such as SP 500 Day trades ect. Flashes for these recommended trades will be Titled 'MC Flash' and may or may not include the particular market in addition some flashes may not be sent during the Early Morning hours but will be tracked,we do sleep sometimes !
It's important to note that the Morning Comments will contain day trades and the BI-Weekly WILL NOT. However the morning Comments will continue to contain the BW recommended trades and be noted as such with a BW
Bi-weekly Flashes will be titled 'BW Flash' and may or may not include the particular market.
We will list of the open positions for the BW at the end of the MC for your review.
Special Reports will be tracked along side the Bi-weekly as always.
As a side note we want to congratulate to an ex Boss and friend, Scott Gordon for his election last year to the post of Chairman of the Board of Governors for the CME and express our sympathies to the family of a friend Jack Savage who recently passed away. Jack was named in William Eng.'s 'Fifty Rules of trading' as one of the Young Turks along with Richard Dennis and others.
I just read a book review by jacks ex wife Terry Savage( founding and the first woman trader on the CBOE and early of the IMM ) of ' Masters of the Futures' by another Friend and former of the Merc's board Scott Slutsky who I spent a lot of time with in the Swiss Pit many years ago. I will read it soon and let you know how it is.I would rather be out of a market wishing I was in than in wishing I was out...
Monday, Feb. 15, 1999
08:30 PM
On the Frenzied Forex Front
March Japanese-Yen
Support is at 8499. Under that Traders should buy at 8489, risk a close under 8484 for three days in a row. Below that 8406 to 8391 should hold. Traders can buy at 8391 for a turn higher, risk a close under 8314.
Resistance is at 8668 to 8671 and 8683. Beyond that resistance is at 8762 to 8777..Traders should sell at 8762 risk a close over 8777 for three days in a row.
Above that resistance should appear near 8856 / 8871 and the 8891 region.
Traders should sell at 8856 , risk a close over 8871 for three days in a row.
Beyond that resistance is at 8934 to 8964
March D-Mark
Support should appear near the 5729 to 5716 region where traders can buy at 5716 and hold for higher prices. Risk a close under 5707 for three days in a row. Below that Buyers should appear near 5653 to 5640
Nearby Resistance is at 5757 and 5772 then 5807. Traders should sell at 5757 ,, risk a close over 5807 for two days in a row.. A close over 5807 is friendly and augurs for a test of 5855 to 5880. Beyond that a test of 5945 to 5957 is likely. Traders should go long if a close over 5832 occurs. Trade Accordingly.
March Swiss
Support is at 7005 to 6990. Traders can buy at 7005 , risk a close under 6990 for two days in a row. Below that 6955 to 6944 should contain the break towards the end of Feb.
Resistance is at 7055 and the 7105 region. Traders should sell at 7074 , risk a close over 7105 for two days in a row. Beyond that resistance is at 7141. Where sellers should appear, Traders can go short at 7141, risk a close over 7170 for two days in row. Above that a trade towards the 7206 and 7216 to 7221 regions is likely.
March British Pound
Support is near 1.6250. a close under 1.6238 augurs for a slip towards 1.6150 where traders can buy at 1.6150 , risk a close under 1.6090 for three days in a row.
Resistance is at 1.6356 and 1.6420, a close over 1.6420 is friendly and augurs for a test of 1.6550 to 1.6612. Beyond that 1.6720 offers resistance, traders should sell at 1.6720 for a turn lower. Risk a close over 1.6780 for two days in a row.
Traders should go long if a close over 58 occurs.
March Canadian Dollar.
Support should appear at 6670 then 6636 Traders can buy at 6636 , risk a close under .6590. Below that support is at 6577 and 6555 to 6544. Below that 6509 to 6486 should contain any break. Traders can buy at 6509 for a bounce, risk a close under 6486 for three days in a row.
Resistance is at 6683, beyond that Resistance is at 6742 to 6755. A close over 6755 is friendly and augurs for a test of 6809 to 6836 then 6906.
Traders should go long if a close over 6755 occurs.
Precious Metals
April Gold
Support is near 288.6, traders can buy at 288.3 and hold for higher prices..Below that support is at 287.60 and 283 where it should hold. A close under 283 augurs for a test of 279 to 276. Traders can buy at 277.6 risk a close under 275.7 for three days in a row.
Resistance is at 292 and 293.7 a close over 293.7 augurs for a test of 296.8 and 299. where good resistance remains. Beyond that resistance is at 309.
Traders should go long if a close over 293.7 occurs.
May Copper
Support is at 6529 a slip under augurs for a test of 6415 and 6330
Traders can buy at 6335 for a turn higher, risk a close Under 6125 for two days in a row. Below that 6020 should contain the decline...
Resistance is at 6730 to 6755. Traders can sell at 6730 , risk a close over 6755 for three days in a row. Beyond that sellers should appear near 6815 and 6930. Traders can go short for a turn lower at 6915, risk a close over 6945.
April Platinum
Support should appear near 369 a slip under augurs for a test of 363 and 357.
Traders should buy at 364, risk a close under 357 for three days in a row.
Below that support is at 349.5.
Resistance is at 372 and 377 to 382. Traders can sell at 382 for
a turn lower. Risk a close over 390.5 for three days in a row. ...
May Silver
On the DownSide: Nearby Support is at 560 , aggressive traders can buy at 560.5 and hold for higher prices... Below that support is at 555 Traders can buy at 555 for a good bounce, Risk a close under 543.5 for two days in a row . Below that good buyers should appear near 530 Traders should buy at 531 and hold.
On the Upside. Resistance is at 572 to 577 A close over 577 is friendly and augurs for an eventual test of 594.5 with a likely touch of 610 if it can hold..
Traders should go long if a close over 572.5 occurs.
Buy Dips
The Exciting Energies
April Crude
Nearby Support is at 1192 and 1173 to 1167 where it should hold, Traders can buy at 1167 for a bounce, risk a close under 1146, Below that 1101 should contain a break.
Resistance is at 1203 and 1217 to 1225. However close over 1217 is friendly and indicates a test of 1268 to 1274 then 1304 to 1319. Beyond that traders can go short at 1334, risk a close over 1347 for three days in a row.
Traders should go long if a close over 1217 occurs.
Trade Accordingly
April Unleaded Gas
Support is at 3670 to 3662 Traders can buy at 3670 for a turn higher, risk a close
under 3612 for three days in a row. Below that buyers should appear near 3563 and 3505. Traders can buy at 3505 for a turn higher risk a close under 3480 for 2 days in row.
Early Resistance is at 3870. Traders can go short at 3870 for a turn lower, risk a close over 3930 for three days in a row. Beyond that resistance is at 3992 and 4150.
April Heating Oil
Support is at 2937 to 2920, Traders can buy at 2920, risk a close under 2870 for three days in a row. Below that 2775 offer support and should stop a decline.
Resistance is at 3119, a close over augurs for a test of 3205. Beyond that resistance is at 3325 and the 3430 region...Traders can sell at 3430 for a turn lower ,risk a close over 3445 for three days in a row.
Trade Accordingly.
The Grande Grains
May Soybeans
Support is at 493 and 487. Below that 479 to 477 should hold.
Traders should buy at 493 , risk a close under 485 for three days in a row.
Resistance is at 501 1/2 and 504 A close over is 504 friendly and augurs for a test of 511 and most likely 523.
Traders should go long if a close over 501 1/2 occurs.
July Soybean Meal
Support is at 130.9 and 129.5. Below that 127.5 and should hold. Traders can buy at 127.5 risk a close under 123 for three days in a row. Under that 119.2 should contain the decline.
Resistance is at 132.8 to 133.6 . a close over 133.6 is friendly and augurs for a test of resistance near 138. Beyond that resistance is at 143
Traders should go long if a close over 133.6 occurs. Risk a close under 130.4 for two days in a row.
July Soybean Oil
Support is at 2097 and 2088 to 2080. Traders can go long at 2098 for a turn higher, risk a close under 2080 for three days in a row. Below that Buyers should appear near 2050 and 2042 to 2034. Traders can buy at 2050 ,risk a close under 2033 for three days in a row.
Resistance is at 2123, a close over 2123 is friendly and augurs for a test of 2170 to 2199. A close over 2197 is friendly and augurs for a test of 2267 and eventually 2411. Traders can go short at 2411 for a turn lower, risk a close over 2419 for three days in a row.
Traders should go long if a close
over 2123 occurs..
May Corn
Support is at 220 3/4 and 218 3/4 then 216. Traders can go long at 216 for a turn higher, risk a close under 211 for two days in a row. Below that 198 3/4 should hold.
Resistance is at 225 3/4. A close over 225 3/4 is friendly and augurs for a test of the 229 to 231 region. Traders can go short at 230 for a quick turn lower, risk a close over 232 3/4 beyond that a test of 237 is likely.
July Wheat
Support is at 271 1/4 and 265. Below that 262 to 259 offers support and should bring out buyers Traders should buy at 259 3/4, risk a close under 255 for three days in a row.
Resistance is at 279 1/2, A close over augurs for a test of 287. Beyond resistance is near the 294 region. Traders should go long if a close over 279 1/2 occurs.
Trade accordingly.
The Satisfying Softs
May Cotton
Resistance should appear near 5772. A close over 5772 is friendly and augurs for a test of 5880 and 5945. Beyond that 6112 offers resistance.
Support is at 5725 and 5680 to 5622. Traders can go long at 5680,
risk a close under support at 5535 for three days in a row. Below that
buyers should appear near 5425.
May Sugar
Support is at 656 then 634 to 630. Traders can buy at 656 for a turn higher, risk a close under 630 for three days in a row. Below that 609 to 601 should hold.
Resistance is at 665 and 682 to 686, a close over 686 is friendly
for a test of 704 to 712 Beyond that a test of 739. Traders can sell at
739 for a quick turn lower, risk a close over 767. Beyond that resistance
is at 791 to 795.
May Coffee
On the DownSide, support is at 106.80 and 106.20 Aggressive Traders should go long at 106.80 and hold for higher prices. Below that support is at 105.80 and the 103.80 to 103.20 region. Traders can buy at 103.80 and hold for higher prices.
On the Upside, Resistance is at 108.10 to 108.70 an extended trade over 108.75 augurs for a test of 110.10 and 111.15 which appears likely to occur. Beyond that 115.00 offers resistance.
Trade Accordingly.
May Cocoa
Nearby Support is at 1268, traders can buy at 1268 for a turn higher, risk a close
under 1232 for three days in a row. Below that support is at 1203 to 1192.
Resistance is at 1274 a close over 1274 is friendly and indicates
a test of 1321 to 1334. Beyond that resistance is at 1362 and 1377 to 1383,
traders can sell at 1377, risk a close over 1383 for three days in a row.
The Lively Livestock
April Cattle
Support is at 6737 and 6672 to 6652, A close under 6652 is negative and augurs for a test of 6427. Traders can Buy at 6427, risk a close under 6347 for three days in a row. . Below that support is at 6257 and 6117.
Early Resistance is at 6807 and 6812. Traders can sell at 6802 for a turn lower. Risk a close over 6882 for two days in a row. Beyond that resistance is at 6917 and 6990 to 7002.
April Hogs
Resistance is at 4677 and 4692. Traders can sell at 4692 for a turn lower, risk as close over 4727 for three days in a row. Beyond that resistance is at 4792 which should cap a rally. Traders can sell at 4792 and hold for lower prices...
Support is at 4592, a close under is negative and augurs for a test of 4492 to 4477 and eventually the 4427 region, Below that support is at 4217. Traders can buy at 4227 and hold for higher prices.
From the Frying Pan into the Fire--
March. Bellies
Support should appear near 5567 and 5500. Below that support is at 5382 and 5352. Traders can buy at 5352 for a bounce, risk a close under 5262 for three days in a row. Below that traders can buy at 5137 and hold for higher prices. Under that support should appear near the 4927 to 4857 region. Traders can buy at 4927 and hold.
Resistance is at 5652 beyond that good sellers should appear near
5682. Traders can sell at 5682 for a turn lower,risk a close over 5802
for three days in a row. Beyond that sellers should appear near 6012. Traders
can sell at 6012 and hold for lower prices.
The Sensational Stock and Bond Markets
March Bonds
On The DownSide nearby support is at 122-16 to 122-13 , a close under augurs for a test of 121-13 and 121-06 traders can buy at 121-16 for a turn higher, risk a close
under 121-06 for two days in a row. Below that support is at 120-14.
On the Upside: Resistance is at 123-13 /123-16 and 123-25 traders can go short at 123-16 for a turn lower risk a close over 124-03 for three days in a row . Beyond that resistance is at 124-16 and 124-23. Beyond that resistance is at 125-16.
March SP500
On the DownSide
Support is at 1238 to 1235 regions. Traders can buy at 1238 , risk a close under 1232 for two days in a row. Below that a test of the 1219.30 and 1218 is likely. A close under 1218 is negative and indicates a test of the 1203 to 1192 region where good buyers should appear and hold the mkt. for a bit.
On the Upside, Resistance is at 1249.50 and 1253 to 1257.20 Traders can short at 1253. for a turn lower, put your own risk on it and stay tuned.. Beyond that resistance is at 1265 to 1268 and 1271 then 1274. A close over 1274 is friendly and augurs for a test of 1285 and 1304. Traders Who Have Ice Water Running Through Their Veins can go short at 1304 and hold for lower prices, initially plan on risking a close over 1311.5 for three days in a row. Beyond that 1319 should bring put sellers.
Stay tuned for Flashes
Dow Jones Industrial Avg.
Support is at 9232
to 9195 and the 9156 to 9140 region. Below that support is at 9087 and
the 9060 to 9044 region. Below that 8964 should hold. ..If not a decline
to 8871 to 8856 and eventually 8777 is likely to occur.
Resistance is near 9316 and 9347, a close over 9347 is friendly and augurs for a test of 9429 to 9438 and 9444. A close over 9445 is friendly and indicates a test of 9526 to 9542 beyond that 9625 to 9642 offers good resistance. A close over 9642 augurs for a test of 9707 to 9737 Above that, 9821 to 9837 should Cap a Rally for a bit.
A ship in Harbor is Safe.. But that's not what ships are built for.
Tuesday Feb 16 1999
Happy Trading
Bill
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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.