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.

"Obsevation. experience , memory and mathmatics--These are what a successful trader must depend on. He Must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions maybe about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities--that is try to anticipate them. Years of practice at the game, of constant study, of always remembering, enables the trader to act when the unexpected happens as well as when the expected comes to pass. A man can have great mathmatical ability and unusual power of accurate obeservation and yet fail in speculation unless he also posses the experience and memory "
--Reminniscences of a Stock operator--

The New Bi-Weekly will be issued on Sunday morn...

FRIDAY 11-14-1997 5:00 AM

Dec-Yen Recommended Position Long at 8042

Early Resistance is near 7995 beyond that 8054 and 8119. A close over 7994 augurs for a trade to 8119 and 8134 where resistance remains. Support should appear near 7947 below 7897.

Trade Accordingly..

Dec Swiss Franc Recommended Position Short at 7110 (11-03) & 7204 (11-07)
Support should appear near 7142/7137, a collapse would yeild a decline to 7092 or even then 7010 to 6991 , Buy at 6991 for a bounce risk a trade under 6955. Below that a test of 6836 is likely , buy at 6836 and risk 35 points...

Resistance begins at 7170 then 7192 and 7237 beyond that 7286 offers resistance then 7336.. Go short at 7428 for a position risk a close over 7486 for two days in a row .. Beyond that 7587 should cap any further rally...

Pick Your Posion

Dec. British:
Support is at 16750 and 164.20 A close under 167.50 indicates a decline to 164.20 then 162.60. Resistance is near 169.60 and 173.10 which should cap the rally for now...

Trade accordingly..

Dec D-Mark
Support is near 5773 below that failure there indicates a decline to 5726....
Nearby Resistance is at 5833 then 5880 and 5927

Dec Canadian Dollar

Support should appear near 7088 to 7074, Below that 7059 to 7046 should stop the decline...Resistance is near 7174, beyond that 7192 and 7247 to 7265 offer selling pressure. A close over 7242 augurs for a rally to 7328 , sell at 7337 , risk a close over 7343 for two days in a row.

December Gold
Nearby support is at 304.5 and 302.6 to 298.10 Resistance is 314 beyond that 323.Traders can Buy at 302.5 , risk a close under 297 for three days in a row.

Conservative Traders Should Buy April and 340 Calls to maintain exposure on the long Side.

Dec Copper Recommended Position, long at 8965 (11-04)
Nearby support is at 8810 and 8630. Resistance is at 8940 and 9010 with 9215 above that.. ... a close over 8870 is friendly....

January Platinum Recommended Position Long at 391 ( 10-07)
Nearby support appear near 386.7 below that 382 Resistance is near 391 and 398 , a close over 398 is friendly and indicates a test of 410.

December Silver...
Early support is at 509 and 502, below that 475offers support. Below that traders should buy at 453 for a position, risk a close under 444 for three days in a row. Resistance is near 515 beyond that 527 offers resistance..above that 555....

Friendly Buy Dips

Dec Crude
Early support is at 2059, Below that 2034 then 2008 and 1961 which should considered buying regions buy at 1953 risk a close under 1945 for two days in a row.

Resistance should appear near 2084 and 2109 beyond that 2146, a close over 2150 augurs for a pop' to 2197 beyond that a trade to 2219 is likely.

Dec Unleaded

Early support is near 5910 and 5775 buy there for a bounce only , risk a trade under 5710, below that 5680 offers support , traders should consider buying near 5680 if able...risk a close under 5635. Resistance is near 6010 and 6105 offer resistance , a close over 6135 augurs for a trade to 6260

Dec Heating Oil. Recommended Position Long at 5790
Support should appear near the 5640 region with more located near 5530 Buy at 5555 , risk a close under 5490...Resistance is near 6070 beyond that , sell at 6190 risk a close over 6260...

Friendly.

January Beans Recommended Position Short at 714 (11-03) and 742(11-11)
Early Resistance is near 733 1/2.Beyond that 737 and 747 1/2 . Support is at 726 , a slip under that augurs for a trade back to 719 1/2.

A close under 733 is negative..

Dec Soybean Meal
Support should appear at 231.4 Reistance is near 241 and 246..

Dec Soybean Oil
Early support is at 2620
Resistance is near 2716

Dec Corn Recommended Position Long at 276 3/4 (11-10)
Early support is at 269 3/4 and 265 Resistance is near 274 1/2 and 275 3/4 beyond that 279 should trade...

December Wheat
Nearby Support is at 335, go long at 335 , risk 6 cent. Resistance is near 342 and 345 1/4 beyond that 348 offers resistance.....Trade Accordingly

Dec Cotton Recommended Position Long at 7190 and 7020 (11-10)
Resistance is near 7075 to 7090 beyond that 7140... a close over 7075 augurs for a trade to 7140..
Support is at 6990 and 6920..

March Sugar
Resistance is near 1238 beyond that 1260 ....Support is near 1202 and 1189 ..More Support is near 1163 , buy at 1169 risk a close under 1164 for two days in a row.

December Coffee
Early support is near 161.65 and 158.50 below that 155.30 and 151.50 and 149.60 should hold and be bought ...for a bounce , risk 150.pts Resistance is near 164.65 above that.. 168.90 offer selling pressure .. sell at 168.90 risk a close over 17100 above that 17500 should trade.

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

December Cocoa
Support is near 1609 below that 1576 then 1553 and 1546 ...Below that Buy at 1535 and risk 30 pts. Resistance is near 1642 and 1655, sell at 1665 risk a close over 1690 for two days in a row..Beyond that a trade to 1728 is likely...

December Live Cattle Recommended Position long at 6677 (10-06) 6920 (9-17) and 6732(11-04)
Long Dec Short June at -165. (9-02)
Support should appear at 6612. Resistance is near 6687 and 6712 a close over 6717 , augurs for a thrust to 6747.

December Hogs
Early support is near 6222 below that 6127. Resistance is 6310 and 6322 beyond that 6345..

Feb Bellies

Early Resistance is at 6227 beyond that 6252 to 6270 ...above that 6337 should trade with a trade to 6337 /6352 likely and sellers appearing near 6372..Support is near 6177 and 6165, below that 6082.
Trade Accordingly

Near Term Friendly for a rally back to 6600..

Dec Bonds
Early support is at 118-16 and 117-26 below that 117-16 ..however for today Failure of that level basis the close augurs for a pull back 116-28 .. a close under 116-28 indicates a slip to 116-16 below that 115-14 and 115-07 offer support , a lose under 115-07 is negative and should yeild a decline to 114-22 and 114-05 and 113-22 where traders can buy for a turn higher , risk a close under 112-30 for two days in a row. Resistance is at 118-28 above that 119-16. traders can sell at 119-11 risk a close over 119-22 for two days in a row...Above that resistance should raise it's head near 120-06 sell at 120-06 and risk 15 pts.

Dec SP500 Recommended Position Long at 927.20 (11-11)
On the Downside, Early and critical support is near 923.60 Below that 920.20 and 917.50 under that 915.60 and 914 with 912.10 and 910.0 below that ..an extended failure there indicates a slip to 901.30 and 900.50 Buy at 900.50 risk a trade under 896.40. Good Support should appear in the 891.00 region Below that Buy at 885.60, risk a trade under 881.60 ...If that fails a slip to 868 is likely Support should appear at 868.40, Buy sat 968.40 Risk a close under 866.80 .. below that 859 should hold .. Buy at 859 risk a close under 856 for two days in a row as a Failure there indicates a decline to 825 ....

On the Upside Resistance should appear near 928.70 and 931.60 to 933.20 with 934.70 above that an extended rally beyond 934.70 augurs for a test of the 942.90 to 944.60 region and most likely a test of 947...Firm Resistance is near 947.60 , sell at 948.80 for a turn lower, risk a close over 952.60 , beyond that resistance should appear near 954.20..sell at 954.10 risk a trade over 958.80.. Beyond that 962.50 and 964.10 offer resistance sell at 964.00 ..and stay tuned for the stop...

Trade Accordingly

Happy Trading

Bill

11-14-1997 6:45 AM est

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