"If a man is both wise and lucky , he will not make the same mistake twice. But he will make any one of the ten thousand brothers or cousins of the original. The mistake family is so large that there is always one of them around"

--Remenisciences of a Stock operator--

Saturday August 8th 1998

11:08 AM

Sept. J-Yen Recommended Position Long 6 avg 7124

Nearby Support is 6861 to 6854 Beneath that support is 6836 to 6809, Day traders can buy at 6809 for a bounce, risk 50 pts. A close under 6809 augurs for a slip towards 6755 to 6741.

Resistance is at 6906 to 6919 then 6957. A close over 6911 augurs for a test of resistance at 6990/ 7003 with a likely push towards 7143 to 7170 and beyond.

Sept. D-Mark Recommended Position long at 5610

Nearby Resistance is at 5640 and 5653. A trade over 5647 augurs for a test of 5673.
A close over 5673 indicates likely test of 5701 and 5716 to 5729. Beyond that good resistance is at 5792 to 5805 then 5855 then 5880. Traders can sell short at 5880 and hold for lower prices.

Support is at 5623 and 5609 the 5601. Below that support is at 5577. Traders can buy at 5577, risk close under 5553 for three days in a row. Below that support is at 5535 Day traders can buy at 5535 for a bounce A close under 5535 is negative for a slip towards the 5504 to 5490 region. Where hearty traders can go long and hold for higher prices towards the end August.

Buy Dips

Sept. Swiss Recommended Position long 2 avg 6724

Nearby resistance is 6715 to 6724. Then 6741 to 6755. However a close over 6724 augurs for an eventual test of resistance at 6774. An extended trade over 6774 is friendly for a pop to 6809 and 6815 to 6824. Beyond that resistance is at 6836/ 6840. A close over 6740 augurs for a test of 6906 and 6919. Beyond Traders can go short for a quick turn lower at 6990. Risk a close over 7003 for two days in a row.

Support is at 6707 to 6686 and 6673. A close under 6673 augurs for a slip towards 6625 Below that good support is near 6591. Day Traders should buy at 6591 for a bounce, risk 25 pts.

Buy Dips

Sept. British Pound:
Support is at 16218 a close under augurs for a test of 1.6150/ 1.6090. Traders should buy at 1.6150 and hold for higher prices, risking a close under 1.6090 for three days in a

row. Below that support is at 1.5990 and 15.760 to 1.5690.

Resistance is at 1.6318 and 1.6358, beyond that resistance should appear at 1.6420. A close over 1.6420 augurs for a test of 1.6550. Traders can sell at 1.6550 for a turn lower, risk a close over 1.6690 for three days in a row.

Trade accordingly

Sept. Canadian Dollar

Support is near the 6577 to 6566 region. Below that support is at 6533.

Traders can buy at 6533, risk a close under 6483 for three days in a row.

Resistance is at 6591 and 6599. A close over 6591 is friendly for a test of 6616 and 6659 to 6673.Traders should sell at 6659, risk a close over 6673 for two days in a row. Beyond that resistance is at 6741. Traders should sell at 6741 for a turn lower towards the trend. Risk a close over 6755 for three days in a row.

Trade accordingly.

Dec Gold Recommended Position Long 2 at 291.0

Support is at 290.30 and 287.30. Day traders can buy at 287.30, risk $ 4.00. Beneath that support is at 280.3 and 275.80 A close under 282 indicates those support levels may be tested.. Traders should sell calls for premium and protection.. Consult my office to make a plan.

Resistance is at 291.60 and 294.40 to 295.40. A close over 293.70 augurs for a test of 300.30 where good sellers should appear. Traders should go long if a close over 293.70 occurs.

Be long, our eventual target is 314.80

Sept. Copper:

Nearby Support is at 7425 and 7390 below that traders should go long at 7345, risk a close under 7270 for three days in a row. Under that support is at 7170 and 7090.

Resistance is at 7470 to 7510, a close over 7490 augurs for a test of 7690. Beyond that good resistance is at 7760. A close over 7770 indicates a trade higher towards resistance at 7890. Above that resistance is at 8090 , traders should go short at 8090 and hold for lower prices.

Traders should go long Monday and hold. Risk a close under 7240 for three days in a row.

Oct. Platinum Recommended position long at 372.5

Nearby Support is at 379.5 and 373.5. Traders can go long at 379.5, risk a close

under 369 for three days in a row. Below that support is at 373 and 367

Resistance is at 384.5 and 387.5 Beyond that resistance is near 389.5 and 391. A close over 391 augurs for a test of 399 to 403 Traders should Go Short at 399 for a quick turn lower. Risk a Close over 406 for two days in a row.

Bullish long term.

Sept. Silver Recommended Position long at 3 at 562.9

On the Downside: Nearby Support is at 525.5. Below that good buyers should appear at 518.5 to 515.5 , under that traders should go long at 507 for a good 2 to 3 day bounce. Risk close under 491 for three days in a row.

On the Upside. Resistance is at 530. A close over 531 augurs for a test 539 to 542.5 and beyond to 548 and 551.

Well Heeled Traders and Traders who are not long go long or add if a close over 531 occurs.

September Crude recommended position long 2 avg 1397

Support is at 1377 and 1373 ,Below that supports is near the 1355 to the 1346 to 1334 region and it should hold.

Resistance is at 1383 Beyond that resistance is at 1405 and 1415 to 1421. A close over 1421 indicates a test of the 1453 to 1459 region. Where traders should exit all but 1 long at 1455 MIT if able. Beyond that another thrust towards the 1484 to 1496 region is possible.

* A trade over 1383 is friendly, traders should go long / add at 1384 Stop.

Risk a trade under 1320 on that position then hold on a close over 1373

September Unleaded Gas recommended position long at 4249

Nearby Support is at 4315 and 4305 to 4290. A close under 4290 augurs for a test of 4238 to 4215 Traders should buy at 4238, risk a close under 4183 for two days in a row.

A close under 4183 augurs for a test 4090 and 4057. Where it should hold.

Resistance is at 4370 to 4381 then 4414 to 4438 A close over 4438 augurs for a test of the resistance at 4503 to 4515. Above that resistance is near 4695 to 4717, traders can go short at 4715 risk a close over 4845 for two days in a row.

* Traders should go long on a close over 4438

September Heating Oil Recommended Position long at 3748

Early Resistance is at 3682, a close over 3682 augurs for a rally to 3735 with a likely test of 3805 to 3815. Beyond that 3860 offers resistance. A close over 3880 is friendly for a rally to the 4070 /4110 region.

Support is at 3663 and 3615. Below that 3580 to 3555 should contain a break.

Buy dips early in the week.

November Soybeans Recommended Position Long 3 avg 565.5

Support is at 532 and 520 then 523 to 520. A this point the farmers should just dump the stuff....

Resistance is at 541 3/4. A close over 543 is friendly for a rally to 562 and 574. Above that resistance is at 588.

Dec. Soybean Meal Recommended long at 143.0

Support is 139.60/139.40 and 137.70 Below that Support is near 134.60 and 131.4

Traders should go long /add at 138.3 for a good turn higher, risk a close under 137.70 for three days in a row. On all positions

Resistance is at 141.9 then 143.6 A close over 141.9 augurs for a test of 147.4 and

152.30 beyond that good resistance is at 155.

Traders should go long if a close over 142.1 occurs.

Trade Accordingly.

Dec. Soybean Oil recommended position long 2 avg 2444

Support is at 2332 to 2322/2315. A close under 2315 augurs for a test of 2275 to 2267 below that 2226 to 2219 should hold. Traders should Buy at 2219 and Hold.

Resistance is at 2359 and 2370 . A close over 2362 is friendly for a rally to 2411 to 2419 and the 2432 region. Beyond that resistance is at 2461 to 2469 then 2512.

Traders should go long /add if a close over 2362 occurs.

Dec. Corn

Support is at 219 1/4 below that the 215 region should hold. Traders should buy at 219 1/2 for a 2-3 day bounce, risk a close under 214 for two days in a row.

Resistance is at 221 1/2 and 225. A close over 222 augurs for a short covering rally to 229. Beyond that resistance is at 231,

stay tuned , a bit of a rally is expected...

Dec. Wheat

Resistance is at 269 3/4. A close over 270 augurs for a rally to 275 and 279. Beyond that resistance is at 281.

On the Downside Support is at 2671/2 and 263 1/4 Below that support should appear at 257 1/2 and 255.

Traders should buy at if a close over 269 3/4 occurs. Risk a close back under 263 for three days in a row.

Dec. Cotton Recommended Position Long 4 at avg 7285

Support is at 7240 and 7220, beneath that 7115 and 7005 to 6990 offer good support.

Resistance is 7325 and 7350. A close over 7325 augurs for a test of resistance at 7425. A close over 7425 indicates a move towards 7770.

Traders should add/go long if a close over 7325 occurs

Oct. Sugar

Support is at 882 and 877. Traders can buy at 882 risk a close under 877 for three days in a row. Below that support is at 868 and 858.

Resistance near 898. Beyond that good resistance is near the 907 to 910 region. A close over 912 augurs for a test of 938 to 941. Traders should sell at 938 , risk a close over 941 for three days in a row.

Sept. Coffee: Recommended position long at 128.35

On the downside, Early support is at 134.95 and 134.25 below that Traders can buy support at 132.50, risk a close under support at 130.40. Below that 127.40 to 126.80 should hold. Traders can buy at 126.80 for a bounce. Stay tuned for the Stop.

On the Upside, Resistance is at 137.45 and 137.70 /138.30, a close over 138.30 augurs for a touch of 139.85 and 141.50 to 142.10 Beyond that resistance is at 145.30 to 145.90 and 148.70, traders should sell at 148.70, risk a close over 149.60 for three days in a row.

Sept. Cocoa Recommended Position Long 3 at avg 1569

Support is at 1554. Below that support is at 1537 to 1529 and 1509.

Resistance is at 1569 to 1575. A close over 1569 is friendly for a test of 1587 then 1609 to 1615. A trade over 1637 is friendly for a rally towards 1642 to 1655. Beyond that 1670 offers resistance. Traders can go short for a turn lower at 1670, risk a close over 1692 for two days in a row.

Trade accordingly.

The Lively Livestock

October Cattle Recommended Position long at 3 @ 6210.

Support is at 6237 and 6202. Below that 6157 should bring out a few buyers.

Resistance is at 6312 and 6352. A close over 6352 augurs for a test of 6387 and 6467.

Long term Friendly

August Hogs Recommended Position long 2 at 4977

Support is at 5267 to 5242, below that support is at 5142 .

Resistance is at 5342 and 5442. Where good traders should exit at 5442 MIT

Stay tuned for updates.

October Hogs Recommended Position Long 4 at 4402 avg

Resistance is now at 4497. Above that resistance is at 4577 and 4597. Beyond that 4722 offers good resistance.

Support is at 4397 to 4377. Below that Hearty traders can buy at 4297 for a good bounce Below that 4242 should hold basis the close.

Trying to maintain longs for a pop to 4722, exit 1/2 at 4712 MIT.

August Bellies recommended position short at 6467

Support is at 6387 Below that support is at 6247 and 6187

A close under 6187 augurs for a test of 6002.

Resistance is at 6492 and 6547. Beyond that good resistance is at 6972,

In the absence of a morning comment and flashes , traders should have exited all long and assumed a small short at 6467 per the Bi-weekly on 7-25

Stay tuned for Updates in the Pig complex

Sept. Bonds

On The Downside, Nearby Support is 123-24 and 123-23. Below that Day traders can buy at 122-24 for a good bounce, risk 15 pts. A close under 122-24 is negative and augurs for an eventual slip to 121-13. Traders can buy at 121-13, risk a close under 120-08 for three days in a row. A close under 123-26 short term is negative and augurs for a slip towards 122-24.

On the Upside: Resistance is at 124-06/ 124-15 and 124-24. traders can sell short at 124-24 risk a close over 125-08 for two days in a row. Above that resistance is at 125-23 to 125-24 which should cap a rally.

Sept. SP500 recommended position short at 1097.20

On the DownSide, Support is at 1096 . The close under 1096 is negative for a slip to 1084.50 and 1082.00. Below that Support is at 1075.40 and 1068, a close under 1168 is negative for a drop to 1158 and eventually 1149.70 where traders can buy and hold for higher prices.

On the Upside, Resistance is at 1097.80 and 1098.50 to 1101 Beyond that good sellers should show up at 1104.90. Above that resistance is at 1115.50 and 1125.50 and 1128.80 to 1130 should cap a rally , sell at 1130 and hold..

* traders who have 'Ice Water Running through their Veins.' Should Go Short.

On Sunday Eve at 1198.50 if able, stay tuned for flashes.

The Dow Jones Industrial Average

Support is 8598 and should hold basis the close if not an eventual break down towards 8335 and 8180 is likely.

Resistance should first appear at 8663 and 8683. A close over 8683 augurs for a rally to 8762 to 8777 then 8856 and 9044 which should cap a rally for now.

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

Happy Trading

Bill

Sat Aug. 08 1998

06:21 PM

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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.