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.

Thur November 20th 1997 6:00 AM

Dec-Yen Recommended Position Long at 8042& 7954
Nearby support is at 7890, below that day traders can buy at 7864 RISK 40 pts Early Resistance is near 7924 and 7943 a close over 7943 augers for a trade to 8042.. 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 7109 and 7106 Below that a test of 7088 then 7053 is likely, under that buy at 7004 and risk 35 points...under that 6959 should hold basis the close ...

Resistance begins at 7156 , 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: Recommended Position Short at 169.60
Support is at 168.36 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 and 170.72 ..above that 171.46 should trade

Trade accordingly..

Dec D-Mark
Early support is near 5747 , 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 5797, beyond that 5854 ...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 306.5 and 305.5 below that Buy April gold at 304.20 More Support should appear near 299.9 and 297..Resistance is 316.. 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 8560 and 8500. Traders should go long if a close over 8965 occurs. Resistance is at 8710 and 8900. Beyond that 8970 to 8990 , above that sell at 9315 risk a close over 9410 for two days in a row..

A close over 8725 is friendly..

January Platinum Recommended Position Short at 396..
Nearby support appears near 388/ 385 below that 377 buy at 377.40, risk a close under 373 for tow days in a row.. Resistance is near 398 and 405

Trade Accordingly

March Silver
Early support is at 525.5 and 514..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 535.5 / 536 ..a close over 536 augurs for a trade to 552. sell at 552, risk a close over 558...

A close under 525 is negative...

Jan Crude Recommended Position Long at 2050
Early support is at 2005 . 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 2022 and 2030 to 2043.. above that 2055 and 2078 a close over 2022 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 5850 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 5950 and 6045 close over 6055 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 5745 and 5655 Buy at 5655, risk a close under 5570...Resistance is near 5745 above that 5780 then 5825 Beyond that 5885 and 5920 ...6160 offers resistance as does 6240, sell at 6265 risk a close over 6340.

Friendly..Buy Dips...

January Beans
Early Resistance is near 721 3/4 beyond that 732 ..traders can sell at 735 for a turn , risk a close over 738 1/2 for three days in a row and stay tuned..
Support is near 707 to 706 and it 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 223.3and 228.8 , above that sell at 232, risk a close over 240

March Soybean Oil
For today support is at 2549 to 2533 and it should 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 2633 to 2655 with 2707 above that..

Dec Corn Recommended Position Long at 276 3/4
Early support is at 270 3/4 , under that, buy at 265 1/4 , risk a close under 259 3/4 for three days in a row. Resistance is near 275 and 282 offer resistance ..traders can sell at 285 use a 291 stop.. basis the close..

A close over 273 3/4 is friendly

March Wheat
Nearby Support is at 352 1/2 and 350 1/2 ..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 358 and 362

Trade Accordingly

March Cotton
Resistance is near 7255 and 7320 sell at 7325 risk a close over 7370
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 1236 and 1261 ..beyond that 1270 should cap the rally sell at 1268 Risk a close over 1277 for three days in a row. Support is near 1222, failure to move over 1236 augurs for a slip to 1194, buy at 1195 risk a close under 1170 for three days in a row.

March Coffee
Early support is near 156.80 and 156.30 then 155.55 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 159.25 to 160.55 beyond that 162.15 is 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 1586 and 1565. Below that Buy at 1538 and risk 30 pts. Resistance is near 1615 above that 1665 and 1686, 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 333.30 and 334.00 above that 335.90 Support is near 329.00 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 6665 and 6650 below that additional support remains at 6627 ansd it should hold ...Resistance is near 6702 and 6722 a close over 6702 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 6722 is friendly

Be long...

Feb Cattle Recommended Position long at 6822
Support is near 6797 and 6752.. A close over 6827 indicates a test of 6902

December Hogs
Early support is near 6277 and 6242, below that traders can buy at 6132 , risk 100 pts Resistance is 6342.

Feb Hogs
Buy at 6160 ,risk a close under 6090 for three days in a row.

Feb Bellies Recommended Position Long at 5945
Support is near 5940 and 5877 with 5852 under 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

Dec Bonds Recommended Position Short at 118-26
Early support is at 118-31 and 118-19/20 belwo tha 117-20 Failure of 118-31 basis the close augurs for a pull back to 117-20 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 119-10 above that 119-20. Traders can sell at 120-06 where resistance should raise it's head, risk 15 pts.

A close under 118-31 is Un-friendly

Dec SP500
On the Downside, Early and critical support is 951.10 and 949.90 , below that 948.60 then 944.70 to 942.90 , below that 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 952.60 Beyond that 954.20 and 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 7689.7 and 7675 /7660 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 /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

11-20-1997 07:54 AM est

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