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 July 31th 1997 for Friday August 1 1997
6:00 PM EST

'I would Rather Be Out Wishing I was in,
 than In Wishing I was Out'

                   On the Frenzied Forex Front

Sept. J-Yen
Recommended Position Long at 8566 and 8484
Nearby Resistance is at 8520 then 8586, a close over 8520 augurs for a pop to 8586 then 8606 and 8651 where short term traders can exit & sell for a turn, risk a close over 8683 or 50 pts. However a rally to 8762 should also be sold , risk a close over 8808 . Buy for a bounce at 8406, risk a trade under 8381. a close Beyond that augurs for a slip to 8356 where buyers should have orders resting for a long position . Risk a close under 8300.

Trade Accordingly.

Sept. Swiss Franc
Nearby Support will appear at 6615 then 6591, where traders can buy for a bounce, risk 30 pts. Below that 6579 then 6520 offers some support. Resistance is at 6641 then 6679 f sell there for a quick turn m, risk 15 pts. Above that 6691 offers res. Above that 6741 should trade.

Sept. British Recommended Position Long at 164.20
Early Support is near 163.08 then 161.50 and 160.90 where longs can be established for a bounce , risk 100 pts Resistance is near 164.20 , a close over that augurs for a pop to 164.60 then 165.50.

Sept. D-Mark .
Resistance should appear near 5462 then 5488. Beyond that, the 5504 region where short term traders can sell for a turn, risk a close over 5510, A close over 5510 augurs for a thrust to 5548 then 5577 where resistance remains. Eventually a rally back to 5650 should occur. A close over 5550 would indicate this. Support is near 5456 then 5418. Below 5410 a slip to 5373 then 5356 where Buyers should go long for the 'pull' into Sept. Stay tuned and Trade Accordingly.

December Gold Recommended Position Long at 328.80
Resistance is near 331.4 , a close over augurs fopr atest of 334 then 338. A close over 333 augurs for test of 341 then 345..Where Sellers can short the 'Yellow Metal' for a turn and risk a close over 349 for two days in a row. Support should appear at 326.7 then 325 , with more at 320.

Sept. Copper Recommended position long at 110.10 and 106.95
Resistance is near 109.20 , then 109.60 a close over 109.20 augurs for a test of 111.20 to 112.05. Support is 108.05 and 107.20. Below that below that traders should buy at 105.25 for a good bounce
risk 150 pts.

Trade Accordingly

Oct. Platinum Recommended position long at 420
Support should appear near 421.00 then 413 where aggressive traders can buy for a bounce risk $ 5.00, more support rests near 411 where traders should buy for a turn higher risk $3.00 Resistance is near 428 then 430,a close over 428 maintains good posture..a close over 431 is bullish...

Sept. Silver
Support should appear near 431, traders can buy for as bounce, risk 4 cents . more support is near 424 then 419 where long term long term traders can buy for a position, risk a close under 413 for three days in a row.Resistance is near 451.5 beyond that a test of 457 is likely. Then 469, sell at 469 for a turn, risk a close over 476 for two days in a row.

Still Friendly...

Sept. Crude Oil.
Support is 2005 then 1980 Good Support is near 1973 , below that 1925- where traders can buy for a turn higher. Below that 1877 should hold and be bought, risk a close under 1858 for three days in a row. Resistance is near 2023 to 2030, sell threre for a turn lower , risk a trade over 2077. More Resistance is near 2055 , beyond that a close over 2088 augurs for a thrust to 2170 and beyond.

Sept Unleaded
Support is near 6265 More Support is near 6225 then 6125, expect a test of thursday's lows. Below that 5835 where traders should have buy orders resting for a turn higher , risk 100 pts. Resistance is near 6325 and above that 6425 to 6450 offers selling pressure.

A close over 6325 augurs for a test of 6425. Conversely ,a close under 6265 is negative.

Sept Heating Oil.
Support near 5590 then 5550 , below that 5490 is likely to trade. way down there at 5290 is where traders can buy for a turn higher and risk a close under 5190 for three days in a row.Resistance is at 5640 then 5720 Where traders can sell for a turn, risk 150pts. More Resistance is near 5790 then 5840. Sell at 5845 for a turn and risk a close over 5930 for two days in a row. Stay Tuned

Trade Accordingly

August Beans

Sellers should appear at 775 , above that 783 then 791 3/4 offers good resistance sell there for a quick turn for a quick turn lower risk a close over 803 1/2. A close over 804 augurs for a test of 823 then 854.
Support is near 761 then 755 3/4. Good Support is near 747 3/4, buy at 745 for a bounce. More support should appear at 734 to 730, Buy at 734 1/4 risk a close under 722 for three days in a row. If this occurs, a test of 650 is likely..

November Beans Recommended Position Short at 645.
Resistance is near 659 3/4 to 661 1/4 sell short at 661 risk 7 cents.nBeyond that 673 3/4 offers sellers as well as 687.
Support is at 651 then 645 , below that 633 is likely to trade. a close under 631 would indicate a slip to 625 to 617...

A close under 650 is negative.

Dec Soybean Meal Recommended Positon Short at 208
risk a close over 214 for three days in a row.
Support is near 212.5. then 211 and 208...
Resistance is near 216.6 to 219

A close under 212 is negative...

Dec Soybean Oil
Nearby Support is neart 2259 then 2226 Resistance is near 2340 With Good sellers att 2403, sell short at 2411 risk a close over 2461 for three days in a row.

Sept Corn
Resistance is near 268 then 273 where Hedgers should sell 'till the Cows come home'.Traders should sell at 273 risk 4 cents. Support is at 264 3/4 to 262 1/4.
A close under 262 is negative.

December Wheat
Resistance is near 377 then 383 above that, sell at 388 for a turn, risk a close over 393 for three days in a row. Above that 404 should trade. Support is near 371 1/2 then 365 1/2....

A close under 373 is negative....

Trade Accordingly

October Cotton
Support is near 7465 below that 7380 is where traders can cover/buy for a bounce, use a stop close under 7305 for 3 days in a row. Resistance should appear near 7540 then 7625

October Sugar
Support is near 1166 , below that 1159 then 1149 where traders can buy for a bounce, risk a close under 1141 for three days in a row. Resistance is near 1187 then 1192 where traders can sell for a turn, risk a close over 1203 for three days in a row.

September the' Monster' Coffee Recommended position Short at 189.30
Support is near 184.10,a trade under augurs for a test of 180.95 below that 179.25 , a close under 180.90 augurs for a slip to 175.60 then 173.80 buy there for a bounce,stay tuned. Good Support is near 169.60 then 167.00. Buy at 165.50 for the 'pull', risk a close under 162.05 for three days in a row. Resistance is near 186.50 then 188.85 to 189.50. More resistance is near 190.55 then 205.10, 'Hearty' traders can sell at 204.20, risk a close over 205.5 for three days in a row.

A close under 184.10 is negative.

Have your' Steel Cup' Ready

November Orange Juice Recommended position long at 77.25
Resistance is near 7840 then 7945, a close over 7955 augurs for a test of 8215. Support is near 7780 buy there for a turn higher , risk 100 pts. Below that 7765 and 7745 offer mild support with 7595 offering good support. The inability to trade under 7730 indicates a rally back to 7900.....

Friendly

Sept Cocoa Recommended Position Long at 1535
Support is near 1484, buy at 1484, risk a close under 1451 for three days in a row. Below that a slip to 1424 is likely. Resistance is at 1519 then 1543 and 1569 Beyond that 1597. Exit longs / Go short for a turn at 1607, risk a close over 1615 for three days in a row.

Trade Accordingly.

Sept Lumber
Support is near 343.00 then 341.10 . Resistance is near 345.50 beyond that 346.20. with 348.00 offering more sellers.

August Cattle:
Nearby Support is at 6770 then 6755 where traders should buy for a bounce risk a trade under 6745. Resisitance is near 6827 where one should sell for a turn, risk a trade over 6902.

A close under 6747 is negative

Stay Tuned

August Feeder Cattle Recommended Position Long at 8142
Support is at 8097 then 8085 .Beneath that 8047 is where traders should have buy orders waiting to go long, risk a close under 7987 for three days in a row. Resistance is near 8192 then 8217 above that sell at 8280 and risk a close over 8357 beyond that a test of 8397 then 8447 is likely.

Trade Accordingly .

August Hogs
Nearby support is at 8157 then 8057 a close under 8157 augurs for a slip to 8080 thn 7957 where traders can buy for a bounce, risk 75 pts. Resistance is near 8232, then 8257 . If a sharp rally occurs 8312 offers resistance and a place where traders should sell for a turn, risk a close over 8330 for three days in a row.

October Hogs Recommended Position Short at 7450
Nearby Resistance is at 7517 then 7550 to 7577 . Sell short for a position at 7550, risk a close over 7602 for three days in a row. Support is at 7477 then 7450 a close under 7477 augurs for a slip to 7277. A close under 7272 augurs for a test of 7007, where traders can go long for a turn higher risk a close under 6927 for two days in a row..

A trade under 7350 is negative and shorts should be intitiated if this happens. Sell at 7340 stop to add shorts, hold on close under 7370 if this occurs.

August Bellies Recommended position Short 4 avg 8110
Support is near 8582 then 8437 , a close under 8577 augurs for a slip to 8395.
Resistance is near 8707 sell there for a turn lower, risk 100 pts. Above that 8777 is likely to trade, and offer resistance . Failure to close higher than 8667 indicates selling pressure on rallies and an impending break , a close under 8577 is negative...
-From the Frying pan into the Fire-

Sept Bonds
Resistance is near 116-28 then 117-05 , sell there for a turn lower , risk 5 pts.
Good Resistance is near 117.18 to 117-22.
Nearby Support is 116-18 , below that 116-12 then 115-18, a close under 116-18 augurs for a test of 115-18, a close under 116-12 is negative ...movwe to 114-03.

Trade Accordingly

Sept SP500 Recommended postion Short at 944.00 and 943.65 & 962.00
On the Downside, Early and critical support is 956.85 below that 954.20 then 952.60 a close under 956.85 augurs for a pullback to the 948.05 region. Any trade under 948 for any length of time indicates a pull back to 944.50. then 942.60 .
A close under 948.00 indicates a slip to 928.35.may occur ...Buy at 928.35 for a bouncer, stay tuned.
On the Upside, Resistance is firm at 962.50 then 963.10 , above that 964.05, beyond that 965.15. Sell at 965.15 for a turn. Additionally 966.90 offers selling pressure Beyond that 975 is likely to trade.

A close under 956.80 is negative...

Trade Accordingly.

Happy Trading and Have a Safe Weekend.

Bill

(The List of Elected trades will be sent over the weekend..)

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