FuturesCom Investment Publications
Morning Comments 9-2-1998
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Thursday Sept. 3rd 1998

7:05 PM

On the Frenzied Forex Front

Sept. Japanese-Yen

Support is 7487 then 7428 and 7410, below that 7328 should hold.
Resistance is at 7513 and 7529, above that good resistance is at 7587

Sept. D-Mark

Resistance is at 5787 to 5805 then 5837. Above that 5865 and 5880 offer resistance Traders can sell short at 5880 and hold for lower prices.

Support is at 5765 then 5737 to 5729 and 5719.

Sept. Swiss recommended position short at 7074
Resistance is at 7074 to 7088 and 7138.

Support is at 7051 and 7038. A close under 7038 augurs for a test of the 7003/ 6990 region.

Sept. British Pound: Recommended position short at 1.6420
Support is at 1.6620 and 1.6550 to 1.6420.

Resistance is at 1.6890 to 1.6960

Sept. Canadian.

Support is 6500 and 6467.
Resistance is at 6517 and 6535.

Precious Metals

Dec. Gold Recommended Position Long 3 at avg. 289.8

Support is at 287.2 and 283.9 then 280.1

Resistance is at 292.7 and 297.2

Dec. Copper:

Nearby Support is at 7505 and 7425. Below that 7370 should hold.

Resistance is at 7570 and over 7635 then 7705.

Oct. Platinum Recommended position long at 372.5 and 379.5

Nearby Support is at 365.5 and 362.5 to 360.5

Resistance is at 372.5 and 374.5. A close over 372.5 is friendly for a test of 380 and 382.5 Bullish long term

Dec. Silver Recommended Position long at 4 at 521

On the DownSide: Nearby Support is at 488 then 477,

On the Upside. Resistance is at 497.5 and 507.5 beyond that a test of 523 is likely.

The Exciting Energies

Oct. Crude recommended position long at 1348

Support is at 1456 and 1450 then 1440. Under that 1425 to 1414 should hold

Resistance is at 1475 and 1490 to 1500 and 1524.

Oct. Unleaded Gas

Support is at 4205 and 4170 then 4105 where it should hold today

Resistance is at 4302 and 4370 to 4402.

Oct. Heating Oil Recommended Position long at 3544

Resistance is at 4087 and 4155.

Support is at 3955 and 3926. Below that 3858 to 3816 should contain a break today,

The Grande Grains

November Soybeans Recommended Position Long 540

Support is at 517 1/2 and 515 3/4

Resistance is at 529 3/4 and 532 3/4

Dec. Soybean Meal Recommended long at 143.80 and 138.30

Support is at 132 and 129.5

Resistance is at 133.70 to 134.20 then 137.3.

Trade Accordingly.

Dec. Soybean Oil recommended position long 2437 and 2366

Support is at 2433 and 2419 then 2411 to 2396.

Resistance is at 2461 to 2469 then 2496 and 2511

Dec. Corn

Support is at 203 3/4 and 201 3/4 Resistance is at 208 1/4 and 211 1/4.

Dec. Wheat

Resistance is at 259 3/4 and 265. Support is at 253 1/2 to 252 1/4

The Satisfying Softs

Dec. Cotton Recommended Position Long at avg. 7288, 7385, 7593

Nearby Support is at 7451 below that 7401 should contain a break today.
Resistance is at 7501 to 7513 and 7550, Beyond that a test of 7600 is likely.
A close over 7601 augurs for a test of 7760 to 7770.

Oct. Sugar

Support is at 745 and 731 to 723

Resistance is at 763 and 791.

Dec. Coffee: recommended position long at 113.05

On the downside, support is at 113.00 and 111.30 to 111.00 then 109.60. Traders can buy at 110.10 for a good turn higher, risk a close under 105.80 for three days in a row.

On the Upside, Resistance is at 113.60 to 114.05 then 116.00 to 116.90. Above that good resistance should appear near the 119.00 region.

Trade Accordingly.

Dec. Cocoa Recommended Position Long at 1569

Support is at 1599 and 1586.

Resistance is at 1609 to 1615 to 1619 Above that good resistance is at 1640 to 1649.

The Lively Livestock

October Cattle

Support is at 5772 and 5767 below that 5747 should hold.

Resistance is at 5847 and 5917 to 5922.

October Hogs Recommended Position Long (3) 4302 avg., 4327, 4057.
Resistance is 3757 and 3787 beyond that resistance is at 3852.

Support is at 3702 and 3662 then 3612

Dec. Hogs Recommended position Long at 4057
Support is at 3772 and 3737, below that 3672 should contain a break.

Resistance is at 3797 and 3807 beyond that resistance is at 3872.

Feb. Bellies recommended position long at 5500, 5550, 2(4817)

Support is at 4707 and 4677, below that 4577 and 4507 should hold.
Resistance is at 4855 to 4872 and 4942. Beyond that resistance is at 5002.

--From the Frying Pan into the Fire--

The Sensational Stock and Bond Markets

Dec. Bonds recommended position short at 127-07

On The DownSide, Support is 126-27 to 126-23

On the Upside: Resistance is at 127-5 and 127-27 which should cap a rally today

Sept. SP500 recommended position long at 1052,1036 and 1002.50(2)

On the DownSide, Support is at 973.70 to 972.30 day traders can buy at 972.30 for a good bounce, put your own risk on it, preferably under 970.50 where some support should appear, below that 964.10 to 962.50 offer support.

On the Upside, Resistance is at 985.1 to 983.70 then 992.10 to 993.70 and 997.60.

Dow Jones Industrial Avg.
On the Upside resistance is at 7716 then 7763 to 7777.

On the DownSide support is at 7675. Below that 7601 to 7587 should hold.

Happy Trading

Bill

Thur Sept. 3 1998

08:15 PM

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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.