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

Moonday  August 4th  1997 for Tuesday August 5th
8:00 PM EST

            On the Frenzied Forex Front

Sept. J-Yen
Recommended Position Long at 8566
Nearby Resistance is at 8506 then 8529, an extended trade or close over 8508 augurs for a pop to 8565 then 8583.More Resistance remains 8622 then 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 Support is near 8475 then 8452 Agressive traders can Buy for a bounce at 8413, 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 6593 then 6575 where traders can buy, for a bounce. Below that 6565 offers some support. Resistance is at 6625 to 6665.Above that 6675 offers res.sell there for a quick turn lower ...Beyond that 6725 should trade...

Sept. British Recommended Position Long at 164.20
Early Support is near 162.64 then 161.50 and 160.90 where longs can be established for a bounce , risk 100 pts Resistance is near 163.50 , above that 164.20 , a close over that augurs for a pop to 164.60 then 165.50.

Sept. D-MarkRecommended Position Long at 5356
Resistance should appear near 5400 then 5408. Beyond that 5435 then 5457. The 5504 region offers traders a place to exit/ short for a turn, risk a close over 5510 to get back long, A close over 5510 augurs for a thrust to 5548 then 5577 where resistance remains. Eventually a rally back to 5619 should occur. A close over 5510 would indicate this. Support is near 5358 then 5335 where Buyers should go long for a bounce. Stay tuned and Trade Accordingly.

December Gold Recommended Position Long at 328.80
Resistance is near 328.4 then 332 a close over 332 augurs for a test 338 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 327.1 then 325.5 with more at 322.7

Sept. Copper Recommended position long at 110.10 and 106.95
Resistance is near 107.35 , then 107.75 a close over 107.75 augurs for a test of 109.30 to 110.10. Support is 105.35 and 103.75. Below that below that traders should buy at 103.35 for a good bounce, risk 150 pts .

Trade Accordingly

Oct. Platinum
The Weekend Rule worked again !
Support should appear near 449.5 then 442.5 where traders should buy for a turn higher risk $4.00 Resistance is near 462 . A close over 462 is bullish for a rally to 480.

Sept. Silver
Support should appear near 446, traders can buy for as bounce .More support is near 434 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 458. Beyond that 469offers reistance , sell at 469 for a turn, risk a close over 476 for two days in a row.

Sept. Crude Oil.
Support is 2065 then 2059 Good Support is near 2034 , where traders can buy for bounce, risk, 20 cents Resistance is near 2088. Above that 2109 to 2116 offers some Resistance. However A close over 2088 augurs for a thrust to 2170 and beyond. A close under 2065 is negative.

Trade Accordingly..

Sept Unleaded
Support is near 6585 More Support is near 6535 then 6330. Below that 6240. Resistance is near 6735 then 6780 offers a selling region....Beyond that 6820 to 6835 offers res. sell there risk 100 pts.

Sept Heating Oil. Recommended Position Short at 5845 Risk a close over 5930 for two days in a row.

Support near 5825 then 5805. Below that 5720 is likely to trade. Down below at 5515 is where traders can buy for a turn higher, risk 80 pts. Resistance is at 5895 then 5940 to 5970

Trade Accordingly

November Beans Recommended Position Short at 645.
Resistance is near 647 then 658 to 661. Beyond that 674 3/4 offers sellers.
Support is at 633 3/4 and 630 1/2. A close below that augurs for a trade to 625 then 619.

A close under 647 is negative.

Dec Soybean Meal Recommended Positon Short at 208
risk a close over 214 for three days in a row.

Support is near 209. then 204
Resistance is near 215.7 then 219.7

A close under 209 is bad.

Dec Soybean Oil
Nearby Support is near 2212 then 2166 Resistance is near 2266 With Good sellers at 2292 and 2313. Beyond that 2330. Sell short at 2411 risk a close over 2461 for three days in a row.

Buy a sharp Dip...

Sept Corn
Resistance is near 264 1/2 Then 269. Sell there risk 6 cents. Support is at 259 1/2 and 254.
A close under 259 is negative.

December Wheat
Resistance is near 372 then 378 above that, sell at 388 for a turn, risk a close over 393 for three days in a row. Support is near 366 then 360 , buy for a bounce at 360 risk 7 cents

.A close under 366 is negative....

Trade Accordingly

October Cotton
Support is near 7455 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 7555 then 7615

October Sugar
Support is near 1152 , below that 1149, where traders can buy for a bounce, risk a close under 1141 for three days in a row. Resistance is near 1166 then 1178. Beyond that sell short at 1192 l for a turn, risk a close over 1207 for three days in a row.

September the' Monster' Coffee
Support is near 193.40,a close/trade under augurs for a test of 191.25 below that 186.90 , a extended trade under 191.20 augurs for a slip to 186.90 then 183.30 buy there for a bounce,stay tuned. Additionally 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 194.95 , beyond that 205.10. 'Hearty' traders can sell at 204.20, risk a close over 205.5 for three days in a row.

A close under 191.20 is negative.

Have your' Steel Cup' Ready

November Orange Juice Recommended position long at 77.25
Resistance is near 7770 then 7915, a close over 7920 augurs for a test of 8120. Support is near 76.70 buy there for a turn higher , risk 100 pts. Below that 7585 offers mild support.Then 7490 and 7420.

Sept Cocoa Recommended Position Long at 1535
Support is near 1484, buy at 1484, risk a close under 1475 for three days in a row. Below that a slip to 1429 is likely. Where traders should buy for a bounce risk 35 pts.Resistance is at 1525 then 1529 and 1575 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 354.70 to 353.70 then 348.30 . .Resistance is near 358.60 beyond that 359.70. Above that 361.10 offers resistance. Sell at 361.30 Risk a close over 362.30 for three days in a row.

Oct Cattle:
Nearby Support is at 6962 where traders should buy for a bounce risk a trade under 6917. More support is at 6887 Resisitance is near 7032 then 7107 where one should sell for a turn, risk a trade over 7177.

Trade Accordingly.

October Feeder Cattle
Support is at 81-02 then 8055, below that 8002. buy for a bounce at 8002 risk 70 pts. Restance is at 8157 then 8202 sell at 8200 risk 70 pts.

October Hogs Recommended Position Short at 7450 and 7550
Risk a close over 7602 for three days in a row

Nearby Resistance is at 7602 to 7635 then 7667. Support is at 7557 then 7492. Below that 7450. A close under 7557 augurs for a test of 7492 Then 7442.

Trade Accordingly.

August Bellies Recommended position Short 4 avg 8110
Support is near 8800 then 8715 , a close under 8800 augurs for a slip to 8465.
Resistance is near 9015 sell there to 'add' and for a turn lower, stay tuned. Above that 9127 offers Res.
-From the Frying pan into the Fire-

Bellies are only for traders who have 'Ice Water' in their Veins.

Feb Bellies
Support is at 7830 then 7755 , below that 7600 offers support. Resistance is at 7955 then 8140 sell there for a turn lower ...

A close under 7800 is negative ..Stay Tuned

Sept Bonds
Resistance is near 114-24 then 115-00 , sell there for a turn lower , risk 5 pts. More Resistance is near 115-20
Nearby Support is 114-10 , below that 113-27 then 113-22 to 113-20, a close under 114-20 augurs for a test of 113-20, a close under 113-20 is negative .for a move to 112-24. A close unde 114-28 leaves the Downside Momentum intact...

Trade Accordingly

Sept SP500
On the Downside, Early and critical support is 954.20 below that 952.60 then 949.95 then 948.35. A Trade under 948.15 augurs for a pullback to the 946.20 then 944.50. Below that 941.20 is likely to trade. In Fact Any trade under 948 for any length of time indicates a pull back to 944.50. then 942.60 and eventually 941.20

On the Upside, Resistance is firm at 958.35, then 960.85, beyond that 964.30 offers resistance.,Sell at 964.20 and 965.15 for a turn. Additionally 966.05 offers selling pressure. Beyond that 975 is likely to trade.

A close under 957.55 is negative...

Trade SP500s like Porcupines Make Love..Very carefully.

Happy Trading

Bill

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