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.

Govt Offces and Banks are closed Monday in Observance of Columbus Day
Currency Futures (Floor Trading)are Closed Monday, however Globex will be open
Bond Futures are also Closed Monday. FuturesCom's Office will be closed on Monday no flashes will be sent .
Please refer to the Bi-Weekly Outlook and This letter for your trading.

Sat Oct 11 1997
4:00 AM NYC time

On the Frenzied Forex Front

Dec-Yen

Nearby support is 8407 below that 8361 then 8314 and 8223 , buy at 8213 for a good turn higher , risk a close under 8191 for three days in a row. Below that 8173, buy at 8173 for a bounce , risk 50 pts. Below that 8044 offers support where traders should have buy orders waiting for a good turn higher , risk 50 pts.

Resistance is 8448 sell at 8448 , risk 20 pts or a close over 8451 initially..Beyond that 8491should trade and offer resistance, sell at 8491 for a turn lower , risk a close over 8499 for three days in a row..Beyond that 8560 to 8589 should trade then 8688 to 8683 offers good resistance.Traders should sell at 8712 , risk a close over 8763 for three days in a row.

Trade Accordingly..

Dec Swiss Franc Recommended Position Long at 6928
Early support should appear at 6911to 6906 below that 6845 offers good support , Buy at 6845, risk risk a close under 6797 for three days in a row. If 6845 fails a trade to 6755 is likely , buy at 6755 , risk a clsoe under 6740.

Early Resistance is at 6961, above that 6998 to 7007. Beyond that a trade to 7062 to 7074 is likely , sell at 7073 , risk a close over 7088 for three days in a row. Beyond that a test of 7113 is likely, sell at 7113 , risk a close over 7145 for three days in a row...Beyond that a test of 7223 to 7242 is likely and where good resistance remains sell at 7223 for a turn , stay tuned....

Trade Accordingly..

Dec. British:
Support is at 161.50 more support is at 160.90 , below that 159.60 then 159.20, buy there risk a trade under 157.60 If not long buy at 158.20 for for a turn higher risk a close under 157.26 for two days in a row. Resistance is near 162.20 then 163.60 Traders should sell at 164.20 for a turn lower risk a close over 165.50 for three days in a row.

Trade accordingly..

Sept. D-Mark Recommended Position Short at 5791
Support is near 5723 and 5702 , buy at 5684 for a position , risk a close under 5680 for two days in a row. Support should also appear near 5640 , 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 5745 above that 5752 then 5802 , Beyond that a trade to 5855 is likely. If The DMZ moves up to 5886 to 5902 sell at 5880 risk a close over 5914 for three days in a row.

Trade Accordingly

Dec Canadian Dollar

Support should appear near 7258 , buy at 7256 , risk a close under 7242 for two days in a row. Resistance is near 7308 then7328 to 7345, beyond that 7363 to 7370 offers resistance. Beyond that a trade is 7399 to 7414 is likely , sell at 7414 , risk a close over 7428 for three days in a row.

December Gold Recommended Position long at 334.4
Nearby support is at 325 then 319 . Resistance is near 335 and 339.5 , with 342 above that .Traders should also consider buying Dec Gold at 341.90 stop basis the close where some resistance remains however if the " Yellow MetaL gets it gander up a rally to 350 is likely , a close over 353 augurs for a rally to 359 sell at 361 , risk a close over risk a close over 365 for three days in a row.

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 9335 then 9285 Buy at 9270 for a turn higher risk a close under 9150 for three days in a row. Below that a trade to 9115 is likely...where value should take hold...

Resistance is at 9505 and 9565. More Resistance is near 9705 and 9905 where traders can sell for a turn lower , risk close over 9940, beyond that 100.80 offer resistance , sell at 100.80 for a turn lower , risk a close over 100.90 for two days in a row. Beyond that 103.25 is likley...

Trade Accordingly

January Platinum
Support is near 429.5, below that support should appear near 418 , then at 412 where traders should have buy orders waiting for a good bounce, risk a close under 406 for three days in a row...Resistance is near 439

Buy Dips...
Trade Accordingly.

December Silver Recommended Position long at 525 & 511
Early support is 514. ....Resistance is near 523 and 533.

Dec Crude Oil Recomended Position long at 2238
Early support is at 2197 then 2173, Buy at 2175 for a bounce , risk 40 pts , more support is near 2151

Resistance should appear near 2222 , a close over 2225 augurs for a test of 2245 then 2291 to 2298

Buy Dips ..

Dec Unleaded Recommended Position Long at 6240

Early support is near 6050 , buy at 6025 and hold. Resistance is near 6150 and 6240 , beyond that 6260 and 6320.

Trade Accordingly

Dec Heating Oil. Recommended Position Long at 6225
Support should appear near 6075 and 6025, buy at 6015 , risk a close under 5850 .

Resistance is near 6160 above that 6290 then 6500..

The ‘Grande’ Grains

November Beans Recommended Position Short at 688
Early Resistance is near 701.5 and 703 with more at 707 Beyond that 709 offers resistance, above that 733.

Support is at 693 and 679 then 674 .

A close under 694 is negative...

Dec Soybean Meal Recommended Position Short at 218
Support should appear at 224 below that 213 , a close under 224 augurs for a pull back to 213. Resistance is near 231 then 237

Dec Soybean Oil
Early support is at 2437 below that 2425 and 2395 offers mild support .. Traders can Buy at 2392 , risk a close under 2352 where support should appear..
Resistance is near 2467 and 2503 to 2519 Sell at 2512 risk a close over 2569 for three days in a row.

Dec Corn Recommended Position Short at 269 1/4 and 280
Early support is at 286 then 283 .. aclose under 280 augurs for a pull back to 272.

Resistance is near 291 then 293 and 296

December Wheat
Nearby Support is at 364 More support should appear near 361 Resistance is near 370 then 375, sell at 375 and hold ...

Trade Accordingly

Dec Cotton Recommended Position Long at 7215
Support at 7135 and 7055 Resistance is near 7225, a close over 7250 should cause short covering and a rally to 7340 to 7370 .

March Sugar
Resistance is near 1228 , sell at 1210 , risk a close over 1213 for three days in a row. Additional Resistance should appear near 1230 sell at 1232 , risk a close over 1238 for two days in a row.

Support should appear near 1188, buy at 1171 risk a close under 1164 for three days in a row. More Support is near 1150 , buy at 1146 risk a close under 1120 for two days in a row. .

December Coffee
Early support is near 163.35 below that 161.90 Buy Dec Coffee at 157. 70 risk a close under 156.90 for two days in a row. More Support should appear near 155.35 then 152.50 ...

Resistance is near at 168.35...above that resistance is near 173.10 Sell at 173.10 risk a close over 174.20 for two days n a row . More resistance is near 180.80, sell at 180.80 , risk a close over 182.30 for two days in a row.

Have your' Steel Cup' Ready.

I am Removing OJ until next week...No recommended Trades are Open .

December Cocoa
Support is near 1661 then 1635 , traders should buy at 1644 for a turn, risk a close under 1640 for two days in a row. More support is at 1615 to 1609 and 1586, buy at 1577 , risk 30 pts.

Resistance is near 1711 and 1757 then 1768 , sell at 1760 , risk a close over and 1782 for two days in a row.

December Live Cattle Recommended Position long at 6865 ,6920 & 6677 Long Dec Short June at -165.
Support should appear at 6682 and the 6622 region, Resistance is near 6757 then 6772

October Feeder Cattle
Resistance is near 7752 beyond that 7822 to 7852 Early Support is at 7677 Below that 7652

December Hogs Recommended Position Long at 6350
Early support is near 6125 and 6077..Resistance is 6217 /6222 and 6282 a close over 6225 indicates a trade to 6325. above that 6407.

Stay tuned ...

Feb Bellies Recommended Position Long at 6387
Early Support is at 6052, below that 5947should hold.

Resistance is near 6097 and 6142 a close over 6142 augurs for a trade to 6250 then 6520

Trade Accordingly.

Dec Bonds
Support is at 114-24 below that 114-04 , buy and 114-04 and risk 10 pts Below that 113-13 offers supports.Resistance is at 115-04 then 115-11 and 115-25 with 116-04 above that .more resistance is near 116-20

Dec SP500 Recommended position short at 968.40
On the Downside, Early support is 976.10 then 973.70 and 972.10 Below that 970.90. The close under 978.00 indicates a possible slip towards 973.70 and the 970.60 region with 969.40 and 967.35 below that... A close under under 967.35 augurs for a trade to 964.10/ 963.60 and the 962.50 region Which should hold ..However failure there indicates a slip towards 958.15/ 957.85 , below that support lies at 954.20 to 953.25 , buy at 954.20 for a bounce.. stay tuned... Below that 952.60 is likely to trade. Failure at 952.60 basis the close indicates indicates a slip to 946.90 to 944.50 where traders should buy for a good turn higher , risk a trade under 942.10.., Below that 934.70 then 929.50 and 927.40 offer support Buy at 929 risk 200 pts Failure to hold 927.40 is negative and should yeild a decline towards the 923 / 918.40 region with 915.60 Below that ... If a Sharp selloff does occur (for what ever reason) 910.05 is the downside target....

Resistance should appear near 978.20 and 982.10 then 983.70 and 985.10 beyond that 987.40 and 991.70 to 992.10 and 993.70

The Dow Jones Industrial Average
Early Support is 8044 with 8029 and 8016 to 8003 as critical , a close under 8029 augurs for a slip to 7991 and 7987.5 then 7954 where support remains.... Resistance is firm near 8055 and 8075 to 8088 with 8119 to 8135 and 8163 above that.

Happy Trading , enjoy the Weekend...

Bill

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