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-

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.

Tuesday November 18th 1997 9:00 PM

Dec-Yen Recommended Position Long at 8042& 7954
Nearby support is at 7917, below that day traders can buy at 7864 RISK 40 pts Early Resistance is near 7955 and 8017 a close over 8017 augers for a trade to 8134.. beyond that 8194 is likely. Beyond that Sell Short at 8314 for a turn lower, risk a close over 8347 for three days in a row.

Trade Accordingly..

Dec Swiss Franc
Early support should appear at 7117 and 7103 Below that a test of 7053 is likely, under that buy at 7004 and risk 35 points...under that 6959 should hold basis the close ...

Resistance begins at 7153 , Hearty Traders should sell at 7177 for a turn lower, risk a close over 7204. A close over 7204 augurs for a trade up to 7249 to 7256 Beyond that.Go short at 7335 for a position risk a close over 7342 for two days in a row .. Beyond that 7587 should cap any further rally...

Pick Your Posion

Dec. British:
Support is at 168.46 below that 16720 should hold , buy at 167.20, risk a close under 166.80.. under that 165.50 should trade A close under 165.30 indicates a decline to 164.20 ....

Resistance is near 169.60 , sell there risk a close over or stop over 170.76 above that 171.46 should trade Traders can go short at 173.10, risk a close over 173.80...however I prefer to only execute this trade this coming week..

Trade accordingly..

Dec D-Mark
Early support is near 5752 and 5744 , below that 5716 offers a buying oppurtunity Traders can buy at 5729 for a bounce, risk a close under 5728 ...below that 5716 should trade...A close under 5716 augurs for a test of 5653 .. if Dec D-Marks Fail.... look to Buy near 5578 for a turn higher , risk a close under 5550..

Nearby Resistance is at 5792, beyond that sell at 5837 , risk a close over 5866 initially. Additional Resistance should appear near 5887 and 5945 beyond that 6000, sell at 6023 for a position risk a close over 6035 for two days in a row.

Trade Accordingly

March Canadian Dollar
Buy near 7055, risk a close under 7003. Traders should go long on a close over 7143, beyond that 7260 offers a selling region, sell at 7260 ,risk a close over 7280..

April Gold
Support is near 305.5 ,Buy April gold at 304.20 More Support should appear near 299.9 and 297..Resistance is 315.. beyond that 320 to 326 offers resistance..A close over 308 augurs for a trade back to 315 then 320...

Conservative Traders Should Buy April 330 Calls to maintain exposure on the long Side.

Dec Copper Recommended Position , long at 8965

March Copper
Nearby support is at 8570 and 8490. Traders should go long if a close over 8965 occurs. Resistance is at 8715 and 8890. Beyond that 8970 to 8990 , above that sell at 9315 risk a close over 9410 for two days in a row..

A close over 8715 is friendly..

January Platinum
Nearby support appears near 387 and 377 buy at 377.40, risk a close under 373 for tow days in a row.. Resistance is near 397, sell at 396 , risk a close over 403..a close over 410 if friendly

Trade Accordingly

March Silver
Early support is at 513 below that 503 / 501, buy at 501 for a good bounce, risk a close under 496. Below that 485 offer good support, buy at 486 , risk a close under 477 for three days in a row...

Resistance is near 521 and 532, beyond that 536 should trade, a close over 536 augurs for a trade to 552. sell at 552, risk a close over 558...

Friendly Buy Dips

Jan Crude Recommended Position Long at 2050
Early support is at 2028 and 2003/1997. Below that 1988 should considered a buying region, buy at 1984 risk a close under 1945 for two days in a row.

Resistance should appear near 2031 and 2047/2053 above that 2078 and 2106 a close over 2031 augurs for a pop' to 2078 beyond that a trade to 2153 is likely.. A close over 2153 is bullish for an assault on 2250 to 2500...

Bullish....

Jan Unleaded Recommended Position Long at 5935
Early support is near 5845 below that 5805 offers support.Day traders may wish to assume longs at 5805for a bounce only , risk a trade under 5730, below that 5690 offers support , traders should consider buying near 5680 for a position ...risk a close under 5635 for tow days in a row..
Resistance is near 5945 and 6055 close over 6070 augurs for a trade to 6190 beyond that 6255 should trade... Sell at 6270 for a turn lower, risk a close over 6340....Stay tuned. Above that 6480 offers resistance as does 6520 ...sell at 6530 ,risk a close over 6590...

Friendly ...Trade Accordingly...

Jan Heating Oil.
Support should appear near the 5770 region with more located near 5730 and 5655 Buy at 5655, risk a close under 5570...Resistance is near 5855 and 5925, Beyond that 6130 and 6160 offers resistance as does 6240, sell at 6265 risk a close over 6340.

Friendly..Buy Dips...

January Beans
Early Resistance is near 721 beyond that traders can sell at 735 for a turn , risk a close over 738 1/2 for three days in a row and stay tuned..
More resistance is near 748 Early Support this week is near 713 Below that 707 to 706 should hold... Buy at 707 risk a close under 695. A slip under 694 indicates a slide to 679

Trade Accordingly...

March Soybean Meal
Support should appear at 220, a close under augurs for a trade down to 216 below that Buy at 214, risk 4.00 Resistance is near 224 and 228, above that sell at 232, risk a close over 240

March Soybean Oil
Early support is at 2629 buy at 2620(not elected yet), risk a close under 2602 Below that 2554 to 2531should hold, if not a trade to 2516 should occur. Buy at 2516 and risk a close under 2508 for two days in a row.
Early Resistance is near 2631 and 2644 to 2655 with 2707 above that..

Dec Corn Recommended Position Long at 276 3/4
Early support is at 275 1/4 below 270 1/4 , under that, buy at 265 1/4 , risk a close under 259 3/4 for three days in a row. Resistance is near 280 and 284 offer resistance ..traders can sell at 285 use a 291 stop.. basis the close..Beyond that a trade to 301 is likely...

March Wheat
Nearby Support is at 358 below that Traders can buy for a position at 351 , risk a close under 346 for three days in a row....below that 338 should hold , go long at 338 , risk 6 cents...Resistance is near 364 above that traders can sell at 371 , risk 5 cents beyond that 375 and 379 offers good resistance as does 383 sell at 383 risk a close over 391 for two days in a row..

Trade Accordingly

March Cotton
Resistance is near 7270 and 7320 sell at 7325 risk a close over 7370 beyond that more reistance is near 7465, sell at 7480. Risk a close over 7535 for two days in a row
Support is at 7170, buy at 7175. Risk a close under 7140 for three days in a row..Below that 7080 should hold , buy at 7080 risk a close under 6990 for two days in a row..

March Sugar
Resistance is near 1234, beyond that 1270 should cap the rally sell at 1268 Risk a close over 1277 for three days in a row. Support is near 1224, failure to move over 1234 augurs for a slip to 1194, buy at 1195 risk a close under 1170 for three days in a row.

March Coffee Recommended Position Long at 151.30
Early support is near 155.80 and 154.75 then 154.15 below that 151.50/151.10 ...below that 149.00 offers support as does 145.60 and 144.35, buy at 144.60 risk ..a trade under 142.00

Resistance is near 156.65 and 159.15 with 162.15 as the likely target... Sell at 162.15 risk a close over 164.20 for two days in a row...Beyond that 168.20 and 169.60 offer resistance . If the Coffee Boils over sell at 172.10 risk a close over 173.30.

Trade accordingly...

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

March Cocoa Recommended Position Long at 1607
Support is near 1576 ..Below that Buy at 1538 and risk 30 pts. Resistance is near 1593/1597 and 1611above that 1661 and 1700 , beyond that 1724, sell at 1731 , risk a close over 1738 for two days in a row. Beyond that a trade to 1774 is likely.

A higher close is friendly...

March Lumber Recommended Position Short at 331.50 risk a close over 337
Resistance is near 333 and 334.70 above that 335.90 Support is near 330.80 and 329.70 below that buy at 320.70 , risk a close under 315..for two days in a row.

December Live Cattle Recommended Position long at 6695 ,6732 (11-03) 6677 (10-06)and 6920 (9-17)Long Dec Short June at -165. (9-02)

Support should appear at 6697, additional support remains at 6677 and 6657...Below that 6622 should hold ...Resistance is near 6727 a close over 6732 augurs for a thrust to the 6772 region. Above that good resistance should appear near 6847, a close over 6847 indicates a test of 6920 ....

A close over 6732 is friendly

Be long...

Feb Cattle
Support is near 6822, buy at 6822 risk a close under 6740 initially. A close over 6897 indicates a test of 6972 and 7012, sell at 7012 for a quick turn lower..risk 70 pts...

December Hogs
Early support is near 6307 then 6282 and 6237, below that traders can buy at 6132 , risk 100 pts Resistance is 6337 and 6437, sell at 6417 ,risk a close over 6487.

Feb Hogs
Buy at 6160 ,risk a close under 6090 for three days in a row...Sell near 6440, risk a close over 6512...

Feb Bellies Recommended Position Long at 5945
Support is near 6035 and 5972 to 5940 below that, buy at 5880 for a bounce risk 80 pts.Resistance is near 6090 and 6155 and 6240. A close over 6090 is friendly for a test of 6155..A close over 6155 augurs for a test of 6240 and 6425. a close under 6022 is negative...
Trade Accordingly and be long...

Dec Bonds Recommended Position Short at 118-26
Early support is at 118-22/118-19 and 117-18 Failure of 118-18 basis the close augurs for a pull back to 117-18 and 116-19 where traders can buy for a turn higher , risk a close under 116-17 A close under 116-17 augurs for a slip to 115-21 , where traders can buy for a bounce , risk a close under 115-04 ... Resistance is at 119-04 beyond that 119-10 and 119-19. Traders can sell at 120-06 where resistance should raise it's head, risk 15 pts.

A close under 118-22 is Un-friendly

Dec SP500
On the Downside, Early and critical support is 935.40 to 934.70 and 933.90 to 931.60 with 923.60 below that, traders can buy at 923.60 and hold, initially risk a close under 922.60 for two days in a row...below that support should appear near 917.60 and the 915.60 to 914 region Buy at 917.60 for a turn higher , risk a close under 913.60 Below that 910.00 offer supports ..failure there indicates a slip to 900.90 Buy at 900.90 risk a trade under 896.40. Good Support should appear at 893.90. Buy at 893.90 , risk a close under 885.90. If that fails a slip to 870 is likely and Support should appear at 861.40 and 858.90 Buy at 861 Risk a close under 856.00 for two days in a row...Failure there indicates a decline to 825 ....

On the Upside Resistance should appear near beyond that resistance should appear near 938.60 and 942.90 to 944.70 , beyond that 949.80 and 951.60 and 952.60 Beyond that 955.50 and 958.304 offer resistance above that resistance should raise it's head near 962.50 to 964.10 sell at 964.00 ..and stay tuned for the stop...A close over 965 indicates a test of 970.60 and 973.70 with an outside chance of a test 980.90 occuring ... Sell at 980.90 and Hold....

Trade Accordingly and Carefully...

The Dow Jones Industrial Average(cash)
Early Support is 7612 offers support as does 7601 and 7587 below that 7513/ 7489 and 7426 to7389..below that 7342/7328 should hold. If not a decline to 7242/ 7226 is lkely. Under that 7137 / 7119 should stop the break.. Resistance is near 7675 and 7689 to 7715/7738 and 7763 to 7777 acting as good resistance...A close over 7777 augurs for a 'pop' to 7805 and 7836 to 7864 where Sellers should appear..and cap the rally ... However it the Dow still rolls forward, 7901 should trade .. above that 7934 to 7954 offers resistance and should cap a rally.

Happy Trading

Bill

11-18-1997 10:51 PM est

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