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.

Sunday, February 16, 1997
For Mon.-- Tues. Feb 17-18 1997

Let the market tell you what to Do .. Then act..

On the Frenzied Forex Front.

March J-Yen: Early Resistance is near the 8111 to 8119 region where we would sell for a turn and risk 30 pts. JYH has support near 8051 then near the 8029 to 8044 area where we would buy for a day trade and risk a trade under 8017. More support is near 7987.

The March Swiss Franc has Resistance near 6876 where we would be a seller for a turn lower and risk 35 pts. Additional Resistance should appear near 6896 where we would not be averse to selling an early rally...risk a close over 6900 more resistance is near 6933. Early support is near 6836 failure to hold 6836 or above is an indication the SFH will Tumble towards 6809. Support below that is near 6748 to 6755 where traders should buy for a bounce and Risk 20 pts. Trade accordingly.

March British Pounds can be bought near 161.60 for a bounce with 80 pt stop. Resistance is near 164.20 where we would sell for a turn and risk a trade over 166.00 for more than 10 min.

March D- Mark has support near 5880 where we would buy with a risk of 20 pts. More support will appear near the 5851 region. Resistance is near 5960 where we would sell an early rally for a turn, more resistance is near 5978 then 5993. Trade accordingly

The Precious Metals:

We continue to Recommend buying December 1997 Gold Calls Technically speaking April Gold needs to close over 342 today for any upward trade to continue. Resistance is now near 348.50 and 352.5 A close over 353 augers for thrust into 360 ...

March Silver up again....

Support near 522 Where we would buy for a day trade with a stop under 503 or using a close under 509 as a stop. Resistance is near 532 then 549. If March silver opens higher, buy 525 or better and risk 16 cents. The is a chance that we may see 544 to 565 March Silver if it holds. We suggest to sell some longs near 544 if able on Tuesday then buy a set back,,,

Be long and Buy the Dips.... “A close over 522 would augur for a rally to the 535 region...... Trade accordingly....Buy dips and Be long.”..FuturesCom 2-14-1997 A close under 519 is negative and suggests a slip back into the 510 region Where we would buy a two day set back if able....

March Copper has Support near 107.30 and 106.85 where would go long for a day trade and risk a trade under 105.60 More Support remains near 106.10 Resistance is near 108.10 A close over 108.55 is bullish for a test of 109.60 to 110.30 then 111.30...

May Copper is buy near 103.90 with a stop under 101.75 basis the close.... We feel the May Copper’s Destiny is to trade into the 114 region.....

Trade Accordingly

The Exciting Energies April Crude has support near 2183 to 2192 where we would buy an early dip. More support remains near 21.83 21.67 Resistance is near 22.09 to 22.19 then near 22.33 and 22.42. a close over 22.19 augers for a test of 22.60 to 22.74 region where we would sell an early rally and risk 20 pts.

March Crude Oil Crude’s late rally was friendly Support today is near 22.22 where we would buy for a bounce and risk a trade under 22.02 for... a close over 2238 indicates a higher market as Crude tries to pull itself out of the bottom of the barrel .... Resistance is near the region 2267/ 2272. Where longs can sell an Early rally, use a tight stop... Failure to hold 2218 on a closing basis is negative, the result would be a test of 2177

The Grande Grains: March Beans... Support is near 757.5 where we would buy an early break for a bounce, more support is near 753 then 749 3/4 where we would have buys orders waiting... Resistance is near 763 1/2 to 764 1/2 then 777 3/4 and 779 3/4. March Soybeans close over 766 be long for a pop into the 780 region.... Be long and buy dips

Conservative Spreaders should continue to Buy September Beans and Sell November Beans... More hearty Traders can Buy August and Sell Nov or Jan...

March Corn has support near 271 1/2 Resistance is near 275 3/4 A close over 276 1/2 in March Corn augurs for a test of 2811 /2 Trade accordingly.

July Corn has risen the last 6 days in a row... Buy a setback into the 268 1/2 region if able ...then Buy again at 264 and risk a close under 260 for the Pull....

Wheat: July Wheat: We still advocate purchases of Wheat for a rally. Risk a close under 338 for two days. Eventually we see 362 in July Wheat in our opinion....

Softs: March Coffee Finally a lower day... Expect a test of 175.95 to 175.40. Then 173.80 where we would buy for a quick day trade and risk a trade under 172.00. An open under 177.40 and failure to stay on top of 176.90 is negative. If that gives way and March closes under 174.90 a test of 169.60 is likely... Resistance is near 178.10 More Resistance is near 179.90 then 180.40.... Where we would sell for a turn and risk 150 pts

May Coffee has early support at 166.90 then 164.80 where we would buy for a bounce and risk a trade under 163.70.... Resistance is near 167.30 and 169.70. A close under 166.50 augurs for a test to 161.60 then 157.60.... Pick your Poison...

March Cotton still has not closed under 7310.. We remain friendly and suggest to hold longs using a stop close under 7310. Support is near 7260 where we would buy for a bounce and risk 60 pts Resistance is near 7355 ...

May Sugar has support near 1042 where we might like to probe the long side for a day trade use a stop under 10.33 Resistance is near 1082 to 1086 where we would sell for a position with a stop close over 1093 for two days If Mar Sugar closes under 1072 sell short and look for a test of 1030..

May Cocoa has support at 1262 where we would buy for a position and risk a close under 1255. Resistance is near 1301 to 1312...where we would sell for a turn and risk 20 pst.

In the Lively livestock Sector:

April Cattle longs should risk a close under 6552 for two days. Resistance is near 6707 then 6732 where we would sell few to exit and leave some on..... Support is near 6632 then 6587 where we would have buy orders waiting and risk 80 pts. Basis the close

Be long for the pull...

June Hogs The Sell off in Pork on Friday did some technical damage to June hogs.... If June hogs fail to breach 7887 early. Tuesday.. Expect 7770 to trade.... Have sell orders near 7867 to 7887 for a turn towards 7767 then 7687...

Support is near 77.67 where we would buy for a bounce Use a trade under 77.52 for more than 10 min. To protect.... Trade accordingly

Buy April hogs near 7222 for a bounce risk a trade under 7177. for two days...Sell April Hogs near 7392 for a turn only and risk 60 pts

March bellies have resistance near the 76.52 to 76.87 region where we would sell and risk a close Over 7717. Support is near 7502. Failure to hold is an indication of a move towards 7337.

Trade accordingly.

Bonds and SP500: March Bonds Resistance is near 114-11 then 114-22 to 114-30 where we would go short and risk 10 pts. Support is near 113-22 and 113-18 where we would buy for a bounce and risk a 10 pts.... A close under 113-18 is negative for a pull back into the 112-27 region.... Trade accordingly.....

March SP 500 Support is near 811.55 where we would buy an early break and risk 65 pts. More support is near 810.50 then 808.60 below that 802.90 is likely to trade...then 794 .... Resistance is near 813.40 then 815.75 where we would sell for a turn and risk 150 pts. More Sellers should appear near 818.90 then 819.40....

A close under 811.50 is negative....

Happy Trading Bill

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