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.

FURTHERMORE HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERANT LIMITATIONS., SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT , THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITAIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSITE. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ADVERSLY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKET IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSLEY AFFECT ACTUAL TRADING RESULTS..

Friday, February 07, 1997
1:36:37 AM

“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-

On the Frenzied Forex Front

The March J-Yen has support in the 8044/8059 region where we would buy for bounce and risk a trade under 8012 for ten minutes. Resistance is 8127 then to 8176 where we would sell for a turn and risk only 30 pts. Trade accordingly.

March Swiss Franc: Early support is near 7013 to 7017 where we would buy for a turn, Risk 30 pts. More support is near 6970. Resistance should appear near 7063 and 7113. Where we would Go short for a turn if able risk a close over 7144 or 25 pts.

March British Pound support is near 162.52 where we would go long for a bounce and risk 60 pts after entry. Resistance is near 164.66 to 165.12 Where we would sell for turn with a 60 pt risk.

March D-Mark support is near the 6023 /6035 where we would buy and risk of 20 pts. Resistance is near 6066/ 6089 where we would sell an early rally for a turn with a 30 pt stop. Trade accordingly

The Precious Metals:
April Gold Has support at 343 then 338 where we would go long for the pull and risk a close under 334. Resistance is near 346 then 354

March Silver has support near 481.5 and again at 478.5 Resistance is 489.5 then 504.5 Be long and Buy dips.

March Copper has early support near 108.25 where we would go long with stops under 107.30 Nearby resistance is at 109.70 then 112.65 where we would sell for a short day turn and risk 75 pts.

We still feel Copper will trade higher and prefer to be long...

The Exciting Energies:

We remain Friendly to Crude Today we would Buy March Crude near 2262 risk a trade under 2241, or on a close over 2315. Resistance is near 2338 where we would sell an early rally for a day trade and risk 25 cents.

The Grande Grains:

March Beans.. Support is near 717 1/2 where we would buy for a bounce risk a trade under 711. Resistance is near 732 3/4 then 737

March Corn... Support is near 264 3/4 where we would go long for a bounce. Resistance is near 274 1/2 where we would sell an early rally for a turn and risk only 3 cents.

Trade accordingly.

Wheat: July Wheat: We still advocate purchases of July Wheat. Risk a close under 335 for two days. A close over 342 augurs for a test of 348 to 350. Support today is near 336 which we need to hold. Resistance is near 341 3/4. We prefer to hold our longs and add using the same risk.

The Splendid Softs:
March Coffee Our target remains near 152.90 Resistance is near 153.15 then 154.65 and 156.05. Beyond that look for 161.05 to 163.35. If march Coffee opens above 150.70 Buy with a stop under is 149.50.

However a failure to move higher than 150.65 early would indicate a decline to 147.75 Where we would Buy for the bounce and risk a trade under 146.55. More support is near 144.80 and 143.15 where we would be inclined to buy a few...use a 85 pt stop for money reasons only. Trade Accordingly

Buy March Cotton it should move next. Support is near 7415 where we would be a buyer with a two day stop under 7405 Basis the close. Resistance is near 7465 then 7515 above that it should trade into the 7545 region.... A close over 7520 augurs for a test of 7635. Buy dips and be long....

March Sugar has Support near 1045 where we would by for a bounce use a stop under 1030. Resistance is near 1070 to 1085 where we would go short for 2 day turn and risk 20 pts. Basis the close...

March Cocoa Support is near 1277 where we would buy for a bounce, risk 20 pts. Resistance is near 1304 then 1327 where we would sell for a turn and risk a trade over 1339. .

In the Lively livestock Sector:
Buy April Cattle near 6555 risk a close under 6472 for two days. Resistance is near 6612 then 6627 above that look for a trade against 6687 Be long for the pull...

Trade accordingly

April Hogs have resistance near 7480 where we would sell for a turn with a 75 pt stop... Support is near 7327 where we would buy for a quick day trade and risk 75 pts. Go long on a close over 7412...

June Hogs support is near 7867 where we would buy for good bounce. Resistance is near 79.42 where we would sell for a turn and risk 60 pts.

Trade Accordingly..

Spreader's Continue to Buy August Hogs and Sell July Hogs and hold. Look for July over August at 225 to lift a few.....

Feb Bellies Support is near 7462 where would buy for a bounce and risk a trade under 7392 initially, Resistance is near 77.57 where we would sell. We see Bellies trading 3 cents lower shortly, and prefer to short march for a longer term trade... Sell March Bellies near 76.32 if able risk a close over 7717...

Bonds and SP500:

March Bonds have early resistance near 112-07 then 112-16 where we would sell for a turn With a stop over 112- 22 Additional resistance is near 113-07. Early Support is near 111-16 where we buy for a bounce, risk a trade under 111-03. Trade accordingly.....

The March SP500 has support near 779.20 where we would buy for a bounce and tight 100 pt stop. Below that 777.70 is likely Then 776.30 should hold for now... Buy this dip... Early Resistance is near 786.05 then 786.60 where we would sell for a turn and risk 150 pts. If the March SP500 holds 779.20 look for a rally back into 786 then a pop into 793 .... If it holds 801 will shortly trade....

Look for the Biweekly this weekend....

Happy Trading

Bill

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