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 REPRESENTAION 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 LIMITATIONS 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..

March 7th, 1997

A trader should not swear eternal allegiance to either a bull or bear side.
His concern lies with being right.

June Yen: JYM has support near the 8318 region where we would buy for a trade, risk 30 pts. More support is near 8263. Resistance begins at 8418 where we would ell for a turn risk 20 pts.
Trade accordingly.

The June Swiss Franc has Resistance near 6826 where we would be a seller for a turn lower and risk 35 pts. Additional Resistance should appear near 6839. A trade under 6774 is negative for a drop into the 6755 region where Early support remains. More Support is near 6726 where traders should buy for a bounce and take some profits on shorts, and Risk 30 pts.
Trade accordingly.

Our long term targets are still much lower.

June British Pounds: Sell near 161.50 risk 80 pts basis the close. Support is near 159.20.

June D- Mark has Resistance is near 5873 where we would sell an early rally for a turn. A Drop under 5852 is negative for a slip into the Support near 5826, where day traders can buy with a risk of 32 pts.

We prefer to sell rallies and stay short waiting for A Hard Wash to cover .....

May Silver Support is near 517 where we would buy for a bounce with a 5 cent risk. More support is near 508. Resistance is near 533 then 553 which we see as an ‘Easily attainable target.’ Buy dips and be long...

July Platinum has support at 382 where we would buy for a turn towards 398/404 where some sellers will appear. If Long from this area use a stop close under 379 for three days to protect. Resistance is near 399 then 410, which we see trading before July goes off the board.

May Copper has performed nicely we would consider buying near 110.70. Longs from this general area use a two day stop under 108.65 to protect. may Copper has early Resistance near 112.70 , a close over 113.00 and the shorts are in trouble ....Indicating a move to contract highs near 115.50 set November 2 1995...

An open over 112.80 is Bullish for a the Beginning of the next leg up....

We Still Believe May copper will trade above 120 before this run is over......

Trade Accordingly

Trade accordingly...

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

July BeanMeal has support near 256.00 where we would buy an early break for a bounce. Resistance is near 262 then 269. Be long for a move over 3.00!! Protection should set under 252 for three days. Trade accordingly...

July Soybean Oil has support near 2570 where we would buy for a position, use a stop close under 2534 lasting thru Monday.

Trade accordingly...

Corn: JULY Recent longs can use a stop under 297 basis a two day close if you can handle it Today Support is near 302.5 where we would buy for a bounce. More support is near 297 1/4 then 292 1/4 Resistance is near 307.5 then 312 close over augers for a test of 326.

An open over 303 and holding above is bullish for a test of 312.

Buy Dips and be long....

Spreaders should start Buying Sept Corn and Selling Dec Corn, then pray for a late planting or late harvest. Last year the Corn Rally caused this Spread to move out to over 40 cents. Currently it sits near 2-3 cents.

Trade accordingly.

Wheat: Acts firmed nicely on the back of the Bean mkt. May Wheat has support near 371. Resistance is near 382 and 389 A close over 377 is friendly for a test of the 389 region.

July Wheat

July Wheat has support at 361 then 355. Longs for the Pull should use a stop under 355 For two days as a stop.

Resistance is near 367 then 372 where traders can sell some longs accumulated at lower levels....A close over 367 is bullish.

May Coffee early Support is near 190.90 where Coffee Traders can buy for a quick bounce. More support is near 187.70 then 185.35 where we would also have buy orders waiting using a stop under 183 to protect. Resistance is near 194.05 then 197.50.

May Sugar has Support near 1086 Resistance is near 1110 where we would go short and risk a close over 1126.

May Cocoa Support is near 1311 where day traders might like to probe the long side for a day trade use a stop under 12.98 Resistance is near 1356 where we would sell for a turn and risk 20 pts.

July Cotton has support near 7670 where we would buy an early break for a bounce and risk a trade under 7640. Resistance is near 7770 where we would sell for a turn and risk 50 pts.

June Hogs: Any remaining Shorts in June near 7955 should now use a 7727 stop to protect gains. Support is near 7627 where we would buy an early break for a bounce. Resistance is near 7762 where we would sell an early rally and try to thread the needle....Risk only 70 pts...

April Hog: Short's in April Hogs near 7467, risk a close over 7122 as a stop or over 7147 to protect.

For today, Resistance is near 7112 where we would sell for a turn and risk 50 pts. Support is near 6912 where we would buy for a trade higher over the next several days...

March Bellies, We will Roll to May this weekend....

Shorts near 8210 the a stop over 7582 to cover. We want to roll to May shortly... For today Resistance is near 7697 where we would sell for a turn and risk 100 pts Support is near 7397 then 7287.

Bonds. Bonds pulled fell into the ‘hole’ again.. Unemployment comes out today so here are the Wide numbers... We suggest you wait until after the ‘Smoke’ clears to enter into a trade... June Bonds Resistance is near 110-29 where we would go short for turn and risk 10 pts. More resistance is near 111-11 where we would sell into a sharp rally after a friendly number risk only 15 pts. Support is near 109-11 then 108.29 where we would buy for a good bounce and risk 10 pts. More support remains below at 107.29 for a rally after a disaster break. Risk only 15 pts.

March SP 500 We will roll to June Analysis over the weekend to get you ready for the next few months...

March SP500 Has early Resistance near the 802.90 Where we would sell for a turn and risk 65 pts. Above that 804.40 should trade. If the Rally continues look for 808.15 then 811.90. Support is near 797.80 then 795.40 where we might probe the long side.. With a tight stop. Under 794.30. More support is near 793.90. If that fails we should see 782.90 and an eventual 779.75 down to 777.70 which should hold any disaster break.

An open under 799.20 is negative for a test of 795.40....

Happy Trading

Bill

FuturesCom