“A loss never bothers me after I take it. I forget it overnight. But being wrong -
not taking the loss- that is what does the damage to the pocket book and to the soul”.
- Jesse livermore-

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 September 20 1997
7:30 AM est

Dec-Yen
Early Resistance next week is near 8297 and 8305 to 8315, above that 8372/8391 offers resistance. Traders should sell an early rally at 8422 , risk 20 pts or a close over 8451 initially..Beyond that 8537 , sell there for a position , risk a close over 8580 for three days ina row..Beyond that 8688 to 8683 offers good resistance.Traders should sell at 8727 , risk a close over 8762 for three days in a row.

Nearby support is at 8223 to 8205, buy at 8212 for a turn , risk a close under 8184 for three days in a row. Below that 8134 to 8119 offers support as does 8044 where traders should have buy orders waiting fora good turn higher , risk 50 pts.

* Traders should be prepared to go long Yen on a close over 8315 or a trade over 8308.

Pick your poison Buy Dips...Trade Accordingly..

Dec Swiss Franc
Early Support should appear at 6860. Buy at 6871 , risk 20 pts or a close under 6860. Below that 6829 then 6817 to 6809 offers support, buy at 6813 , risk a close under 6761, for three days in a row. or a trade under 6730 . more support should appear near 6673 , buy there risk a trade under 6645.

Early Resistance is at 6906 to 6919, a close over augurs for a test of 6960 then 6990 to 7003, sell at 7003 for a turn , risk a trade over 7037. Beyond that a trade to 7074 to 7088 is likely , sell at 7074 , risk a close over 7088 for three days in a row. Beyond that a test of 7145 to 7165 is likely where traders establish shorts at 7170 , risk a close over 8185 for two days in a row...

Traders should go long if a trade over 6914 occurs for more than 15 minutes

Stay tuned for flashes...

Trade Accordingly..

Dec. British:
Support is at 160.12, then 159.20 buy at 159.20 for a turn higher risk a close under 158.15 for three days in a row. More support is at 157.60 , buy there for a turn higher , risk a close under 157.26 for two days ina row. Resistance is near 160.90 and 161.50 offer resistance. Traders should sell at 162.10 , for a turn lower risk a close over 162.90 for two days in a row.

Sept. D-Mark
Support is near 5651 to 5653, buy at 5655 for a position , risk a close under 5640 for two days in a row. Support should also appear near 5601 , where traders can buy for a good bounce , risk a close under 5577.Below that 5553 should trade. Buy at 5553 for a bounce , risk 30 pts.

Nearby Resistance is at 5701 to 5708 with 5716 then 5729 above that, sell at 5729 , risk 20 pts. Beyond that 5751 to 5753 offers resistance , sell at 5753 , risk a trade over 5805. Beyond that a trade to 5830 and 5855 is likely. If The DMZ moves up to 5886 then 5902 sell at 5880 risk a close over 5905 for three days in a row.

Trade Accordingly

Dec Canadian Dollar

Support should appear near 7208 then 7170 to7158 , buy at 7170 , risk a close under 7158 for two days in a row. Resistance is near 7242 to 7258 a close over 7259augurs for a trade to 7328 , sell there , risk a close over 7345 for two days ina row.

December Gold Recommended Position long at 328.80
Nearby support is at 321 then 317 to 315.Buy at 318 and hold. Traders should also consider buying Dec Gold at 324.5 stop basis the close.

Resitance is at 325.3 then 327 . A close over 328.5 augurs for a rally to 335 where good reistance rests. Beyond that 338 offers reistance , above that 341 to 343should trade . Sell at 343 risk a close over 345.

Buy dips..and hold.

Be Long ...Conservative Traders Should Buy April and Feb Gold 360 Calls to maintain exposure on the long Side.

Dec Copper
Nearby support is at 9605, Buy there for a turn higher , risk a 100 pts. Good Support is near 9405, where traders should have buy orders waiting for a turn higher. Risk a close under 9280 for three days in a row. Resistance is at 9805 a close over augurs for a trade to 100.05 Traders should sell at 100.05 for a turn lower risk a close over 102.20 for three days in a row.

Trade Accordingly

Oct. Platinum Recommended Position Long 437
Nearby support appear near 428.5 then 424.5 and 418.5, with 420 as a key level that should hold basis the close for any upward movement to continue. Below that trader should buy at 416 for a bounce , risk a trade under 408.

Resistance is near 434 to 438, a close over 434 augurs for a 'pop' to 444 then 454 prior to expiration.
Buy dips However a close under 428 or 420 is negative..

Trade Accordingly.

December Silver Recommended Position Long at 472
Early support is 463 then 451 buy there for a bounce, risk 8 cents. More Support should appear near 443.5 buy at 445.5 for a position, risk a close under 430 for three days in a row. Resistance is Firm at 473 however a close over augurs for a thrust to 492 where good sellers should appear. Beyond that a test of 503 to 510 is likely, If it holds.. If Silver can get thru the next few weeks without a collapse higher prices are likely...

A close over 473 maintains good posture , over 484 is Bullish..

Traders should consider going long on a close over 473 , stay tuned ..

Trade Accordingly.

Dec Crude Oil
Early support is at 1949 to 1933, Traders should buy at 1953, risk a close under 1920. for three days in a row. More Buyers should apprear at 1933 then 1926 to 1921 where traders should have buy orders waiting for a 2- Day Turn higher , risk a close under 1901 for three days in a row. Resistance is near 1971 then 1991 above that 2023.Traders should sell at 2021 risk a close over 2043 or a trade over 2062

Trade Accordingly..

Oct Unleaded Recommended Position Long at 5740
Early support is near 5655 then 5600 where traders should buy using a stop close under 5490 for three days in a row. More support is near 5530 then 5430 , buy at 5435 for a bounce risk 100 pts.

Resistance is near 5790 then 5835 A close over 5805 augurs for a test of 5890 . Beyond that 5920 to 5945, traders should sell for a Position at 6015 ,risk a close over 6045 for two days in a row.

Trade Accordingly

Dec Heating Oil. Recommended Position Long at 5565
Support should appear near 5450 and 5325. Below that 5280 should hold. Traders should buy at 5420 , risk a close under 5340 for three days in a row.

Resistance is near 5560 then 5640 . Above that 5725 offers reistance, a close over 5745 augurs for a 'pop' to 5840.

A close over 5655 is Friendly

November Beans Recommended Position Short at 628
Early Resistance is near 641 3/4 then 655 1/2 , above that 667 offers resistance.Sell at 667 , risk a trade over 673. Beyond that 680 offers resistance, sell there and risk a close over 685 for three days in a row.

Support is at 627 3/4 , a close under augurs for slip to 613 1/2 and 611 where support lies, traders should have buy orders at 611 3/4 for a turn higher risk, a close under 602 1/2 for three days ina row. Below that 592 is likely and traders should buy at 588 for a turn higher , risk a close under 573 for three days in row.

Dec Soybean Meal
Good support should appear at 199.60 Buy at 201.3 risk a close under 197 for three days in a row.Resistance is near 211 to 212 sell at 213.3 . risk a close over 216 for three days in a row.

Dec Soybean Oil
Early support is at 2378 , a close under augurs for a slip to 2300. Traders should Buy Dec Bean Oil at 2292 for a bounce , risk a trade under 2260.
Below that 2209 should hold. Long term traders should buy at 2209 for the 'Pull'.

Resistance is near 2442, Sell at 2442 risk a close over 2475 for three days in a row. More Resistance is neat 2490 and 2511 to 2519...

Trade Accordingly and Stay Tuned

Dec Corn
Early support is at 260 3/4. A close under augurs for a slip to 256 then 253, traders should Buy Dec Corn at 251 1/2 , risk a close under 247 for two days in a row.

Resistance is near 262 then 263, sell at 262 risk 5 cents. More resistance is near 266 and 269 , sell at 269 Risk a close over 275 for three days in a row. More Selling should begin near 281 then 284 3/4. Traders should sell at 280, 'till the cows come home' risk a close over 288 for three days in row.

A close over 264 is friendly...Trade Accordingly.

December Wheat
Early Resistance is near 368, sell there for a quick turn risk a close over 373. Beyond that 380 offers resistance sell at 380 and risk a close over 385 for three days .in a row. More resistance is at 391 then 397, traders should sell at 397 , risk a close over 406 for two days in a row. Support is near 365 a close under augurs for a slip to 361 where traders should buy for a bounce risk, 5 cents, below that 353 then 348 offers support. If a real failure occurs traders should Buy Dec Wheat at 349 , risk a close under 342 for three days in a row. Stay Tuned...

A close over 372 is friendly...

Trade Accordingly

Dec Cotton
Early Resistance is near 7420 , sell at 7390 risk a close over 7430 for three days in a row. More resistance should appear near 7480 then 7555.

Support should be evident at 7330 then 7265 and 7205, buy at 7215 , risk a close under 7150 for three days in a row.

May Sugar
Resistance is near 1170 to 1174 , sell at 1174 , risk a close over 1192. Additional resistance should appear near 1219 , sell there for a turn , risk 20 pts.

Support should appear near 1155 then 1139 to 1127 , buy at 1127 risk a close under 1101 for three days in a row.

December Coffee
Early support is near 171.35, below that 168.75 offers support buy there for a bounce,risk 350 pts. Below that 166.15 then 167.40 offers support. If The Coffee Cools off to 157.50. Buy it, risk a close under 156.90 for two days in a row.

Resistance is near 175.80 then 176.35, sell at 176.30 risk a close over 179.70 for two days in a row . More resistance is near 181.35 and 185.10 , sell at 185.10 , risk a close over 188 for two days in a row.

Coffee Trading is Not for widows and orphans ....Have your' Steel Cup' Ready.

November Orange Juice Recommended Position Long at 6810
Early Resistance is near 6975, above that 7125 and 7225 . A close over 7240 is friendly. Support should appear near 6750 where traders can buy for a turn higher , risk a close under 6470 for two days in a row.

December Cocoa
Support is near 1635 then 1610 ,where traders should buy for a turn, risk a close under 1605 for two days in a row. More support is at 1576, then 1570 buy at 1572 , risk 30 pts.

Resistance is near 1660 then 1668. A close over 1669 augurs for a pop to 1712 where sellers remain. Traders should sell at 1732 , risk a close over 1752 for three days in a row.

FuturesCom is removing Lumber for a bit .. stay tuned

Oct Cattle: Recommended Position Long at 6972
Support is at 6770.Below that 6725 then 6705 and 6670 offer support. Resisitance is near 6845 and 6870, a close over 6855 augurs for a trade to 6880 where good resistance should appear. A close over 6860 or 6907 friendly for a 'pop' to 6947.

Agressive Traders should Buy Oct cattle at 6770 or Better on Monday... Risk 50 pts.

Trade Accordingly.

December Live Cattle Recommended Position long at 6865
and Long Dec Short June at -165.
Nearby Support should appear at 6880 then 6852 and the 6827 region with 6770 below that. Resistance is near 6927 then 6975and 7010. A close over 6975 Augurs for a 'Thrust' to 7047 then 7072 and 7112.

A close under 6850 is negative...

Spreaders should maintain Positions in long Dec Short June Cattle ,Recommended Spread Position , long Dec cattle , Short Dec hogs should Hold. Stay Tuned.

October Feeder Cattle
Early Support is at 7952, Below that support lies at 7912 buy there risk a close under 7830. Traders should buy orders resting at 7767 for a turn higher..stay tuned. Resistance is near 8047, then 8147 Sell at 8147 risk a close over 8177 for two days in a row. Trade accordingly. Beyond that a test of 8230 is likely.

October Hogs
Nearby Resistance is at 7007 then 7012 sell there for a turn, risk only 40 pts.A close over 7007 augurs for a a rally to 7112. then 7147 sell at 7147 for a turn risk a close over 7247 for two day is a row. Beyond that 7305 offers resistance, sell there for a position risk a close over 7487 for three days in a row.
Support is 6917, buy at 6922 , for a turn higher.Risk a close under 6832 for three days in a row. More support is near 6850 then 6750 which should hold, Traders should go long at 6757 for a turn higher , risk 100 pts.

Trade Accordingly.

Feb Bellies Recommended Position Long at 6430
Support is at 6272 below that 6192 offers support .Below that 6122 offers support, Buy at 6122 , risk a close under 6032 for three days in a row.

Resistance is near 6455 then 6492 More reistance is near 6550 a close over augurs for a 'pop' to 6700 Beyond that 6742 should trade. A close over 6742 augurs for a trade to 6867 ...Beyond that , if the Bacon get's hot Sell at 7025 for a position, risk a close over 7242 for three days in a row

Trade Accordingly ....

A close over 6502 is friendly.

Dec Bonds
Early support next week is at 115-19/18 and 115-12 an extended trade under or close under 115-19 is negative, and indicates a decline towards the 114-21 to 114-19 region where minor support rests. Below that 114-04 is where Traders can buy for a bounce only ,risk 7 pts. Try to maintain the shorts. Under that 113-16 should hold .

Resistance is at 115-30 above that 116-04 and 116-20 offer resistance. Beyond that a trade to 117-23 is likely , sell at 117-22 and risk a close over 118-02 for two days in a row.

Trade Accordingly and Stay Tuned ....

Dec SP500
On the Downside, Early and critical support is 960.20 and 958.35 Below that. Additionally 955.45 then 954.20 offer support. Below that 952.60 then 951.60 offer support. Failure there indicates a slip to 948.65 then 944.55 where traders should buy for a good turn higher , risk a trade under 942.10.. Below that 938.85 to 938.20 offers support. A close under 942.90 indicates a slip to 938.10 , a close under 938 indicates a slip to 929 where support rests , buy at 929 risk 200 pts Failure to hold 929 is negative and should yeild a decline towards the 915.60 region then 912.85 then 905.75 if that doesn't hold Buy at 896.35 for a turn higher no stop for now...stay tuned...
Resistance should appear near 962.50 to 964.10 , sell at 962.50 risk 200 pts. Above that 965.70 offers a selling region Beyond that 967.35 is where traders should sell for a turn , risk a close over 970.65 for two daysd in a row. Above that 969.10 then 970.60 to 973.70 all offer resistance. A close over 970.65 for more than three days indicates a trade to 982.10 , sell at 982.10 , risk 250 pts. Beyond that 992 should trade.

Trade Accordingly

Happy Trading and Remember -When in doubt Get out-

Bill

9-20-1997 1:30 PM EST
FREE TRIAL

FuturesCom's Secured Payment Server
FuturesCom's Price
Special Reports
FuturesCom.com