FuturesCom Investment Publications
Morning Comments, November 25,1998
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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We wish everybody a Safe and Happy Thanksgiving !
A Holiday Schedule for Us Markets is at the end of the Morning Comments.

Tues. November 24, 1998

7:49 PM

On the Frenzied Forex Front

Dec. Japanese-Yen

Early Support is at 8223 under that support is 8192 and 8144 traders can buy at 8145 for bounce. Risk a close under 8119 for three days in a row. Below that buyers should appear near 8044 to 8029. Hearty Traders can buy at 8044 for a good turn higher, risk a close under 8044 for two days in a row. If that fails a decline to 7954 to 7939 under that 7864 to 7836 should hold. Traders can go long at 7864 and hold for higher prices.

Resistance is at 8277 then 8292/ 8300 to 8314. Day traders can sell at 8314 for a turn lower, risk 55 pts. Beyond that resistance is at 8352 and 8391 to 8406 beyond that 8484 to 8499 Traders should sell short at 8484 for a turn lower, risk a close over 8499 for three days in a row. Beyond that resistance is at 8560 to 8589, traders should sell short at 8572, initially plan on risking risk a close over 8611.

Dec. D-Mark

Resistance is at 5892 then 5947 and 5957 then 5982 Support is at 5838 and 5788. Day traders can buy at 5788 and hold for higher prices.

Dec. Swiss

Resistance is at 7142 and 7151 Above that resistance is at 7197 and 7206 day traders can sell at 7197, risk 30 pts. Beyond that resistance is at 7242 to 7255 then 7298. Support is at 7099 to 7088 and 7047. Day traders can buy at 7102, risk 30 pts.

Trade Accordingly

Dec. British Pound

Support is at 1.6550 and 1.6420 day Traders should buy at 1.6550 and hold for higher prices Resistance is at 1.6612 and 1.6720. A close over 1.6720 augurs for a test of 1.6890 to 1.6960, traders can short at 1.6960, risk a close over 1.7110 for two days in a row..

Dec. Canadian Dollar

Nearby Support is at 6431 and 6417. Traders can buy at 6418 for a bounce. Risk a close under 6402 for three days in a row.


Resistance is at 6483 and 6532. However a close over 6517 is friendly and augurs for a test of 6577 to 6591. Traders should go long if a close over 6517 occurs.

Trade accordingly.

Precious Metals

Dec. Gold

Support is at 295.60 and the 293.20 to 292.80 region. A close under 292.80 augurs for a test of 290.60. Traders can Buy at 290.40 and risk a close under 287.40 for three days in a row. Resistance is at 297.60 and 299.00. A close over 297.20 is friendly and would indicate a test of 301.80 and 303.60 if it holds.

Dec. Copper:

Nearby Support is at 7055.. Day traders can buy at 7055 for a bounce, risk 100 pts.

Resistance is at 7170 and 7245, day traders can sell at 7235 and risk 100 pts.

Trade accordingly.

Jan. Platinum

Support is at 352 then 347.50 to 344.5 where it should hold basis the close. Traders can go long at 344.5, risk a close under 337. Below that support is at 329 and 327. for two days in a row. Resistance is at 358 and 363.

Dec. Silver

On the DownSide: Support is at 485.5 Below that good buyers should appear at 479. On the Upside. Nearby Resistance is at 496.5, a close over 496.5 is friendly for an eventual test of the 531 region..Trade Accordingly.

The Exciting Energies

Jan Crude

Nearby Support is at 1218 and 1198 to 1156

Resistance is at 1243, day traders can sell at 1243 for a turn lower, risk 30 cents Beyond that resistance is at 1267 and 1284. Trade Accordingly

Jan Unleaded Gas

Support is at 3572 and 3512 Early Resistance is at 3755, a close over augurs for a test of 3955 and 4045.

Jan Heating Oil

Support is at 3385 and 3312

Early Resistance is at 3525 and 3630. A close over 3525 augurs for a test of 3765.

 

The Grande Grains

January Soybeans

Support is at 563 1/2 below that good buyers should appear at 558 1/2 and 555 1/2. Traders can buy at 555 3/4 for a turn higher, Risk a close under 549 for three days in a row. Resistance is at 574 and 578.

Dec. Soybean Meal

Support is at 141.5 and 140.3, day traders can buy at 140.3 risk 4.00 Resistance is at 143.1 and 149

Dec. Soybean Oil

Support is at 2442 Below that Support should appear near the 2419 to 2411 region. Resistance is at 2469 and 2483 to 2492. Beyond that a test of 2512 is likely.

Dec. Corn.

Support is at 215 1/2 and 212 1/2.Resistance is at 220 and 222.

Dec. Wheat
Support is at 275 and 272 where a break should contain it self..

Nearby Resistance is at 279 1/4. A close over augurs for a test of 289.

The Satisfying Softs
March Cotton

Support is at 6270 and 6165

Resistance is 6455 Day traders should sell at 6455, risk 100 pts.

A close over 6480 is friendly and augers for a test of 6735

March. Sugar

Support is at 799 and 791. Resistance is at 823 then 839 to 847

March Coffee:

On the downside, Early support is at 107.20. Below that support is at 106.80 to 106.40 and 105.80, Below that 103.60 to 103.00 should hold. Traders should buy at 103.60 and Hold...

On the Upside, Early Resistance is at 109.60 and 110.10 then 111.20 and 112.35 Day traders can sell at 111.20, risk 270 pts. Beyond that 113.00 to 113.60 region. Should cap a rally if not a push to the 116.20 is likely.

March Cocoa

Support is near 1435 and 141 Where it should Hold.

Resistance is at 1464 then 1484 to 1496

 

The Lively Livestock

Dec. Cattle 

Support is at 6212 and 6177.Resistance is at 6302 and 6377

Dec. Hogs

Support is at 2847 and 2802 under that 2702 should hold..

Resistance is at 2902 then 2927, an extended rally over 2927 is friendly for a test of 3002 day traders can sell at 3002, risk 50 pts.

Feb. hogs

Support is at 3582 and 3512 then 3482 Resistance is at 3657 to 3677.A close over 3657 is friendly and augurs for a test of 3777...

April Hogs

Resistance is at 3962 then 4062, day traders can short an early rally at 4062 risk 50 pts. Support is at 3922 then 3867. Day traders can buy an early dip to 3867, risk 50 pts --From the Frying Pan into the Fire--

Feb. Bellies

Support is at 4202 and 4167 , day traders can buy at 4167 under that 4052 to 3982 Should contain the decline.

Resistance is at 4352 and 4467. A close over 4467 is friendly.
Patience...-Stay tuned for Updates in the Meat Complex.-

The Sensational Stock and Bond Markets

Dec. Bonds
On The DownSide
, support is at 127-19 to 127-15 . day traders can buy at 127-19 for a bounce , risk 15 pts. On the Upside: Resistance is at 128-15 and 128-28

Dec. SP500

On the DownSide, Support is at 1183.45 to 1180.50/ 1179.90, where day traders can buy an early dip to 1183.45 put your own risk on it... however an extended trade under or close under 1183.40 augurs for a slip to 1169.80 and 1164.. with an eventual test of 1132.50 more likely than not...

On the Upside, Resistance is at 1195.50 and 1201.75 to 1203 day Traders should sell short at 1201.75 and hold for lower prices..Beyond that resistance is at 1205.70

Stay Tuned for SP500 Updates and Flashes .

** A close under 1183.40 is negative, traders should sell short if a close under 1183.40 occurs.

The Dow Jones Industrial Average

Support is 9259 and 9140 then 9083 and 9044 Resistance should first appear at 9316 to 9347 and 9445 then 9547.

A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading and have a Safe and Fulfilling Thanksgiving !

Bill


Tues.
 Nov. 25 1998

8:33 PM

Copyright@1998 FuturesCom Investment Publications

All Rights Reserved

FuturesCom is Not Responsible for Transmission Errors and Omissions.

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.

 

Thanksgiving Holiday Schedule

CBOT

WEDNESDAY, NOV. 25 CBT agricultural and metal contracts

close at 12:10 p.m. CST. Financial and

electricity contracts close at 1 p.m.

CST. Stock index contracts close at

3:15 p.m. CST.

CBT afternoon and overnight Project A

trading will be closed.

Trading closes at 12:15 p.m. CST in the

following MidAm contracts: Live cattle;

hogs; Australian dollar; British pound;

Canadian dollar; Deutsche mark; Japanese

yen; Swiss franc; Eurodollar; and U.S.

Treasury bill.

Trading closes at 12:20 p.m. CST in

the following MidAm contracts: New York

silver; New York gold; options on

New York gold futures; and platinum.

Trading closes at 12:30 p.m. CST in

the following MidAm contracts: All grain

and soybean contracts.

Trading closes at 1:20 p.m. CST in

the following MidAm contracts: U.S.

Treasury bond; U.S. Treasury bond

option; and 5- and 10-year U.S.

Treasury notes.

THURSDAY, NOV. 26 All CBT, MidAm day trading will be

closed. Project A trading closed.

FRIDAY, NOV. 27 All CBT financial, insurance and

electricity contracts close at 1 p.m.

CST. Agricultural and metal contracts

will close at 12:10 p.m. CST. Stock index

contracts will close at 12:15 p.m. CST.

Trading closes at 12:15 p.m. CST in

the following MidAm contracts: Live

cattle; hogs; Australian dollar;

British pound; Canadian dollar;

Deutsche mark; Japanese yen; Swiss

franc; Eurodollar; and U.S. Treasury bill.

Trading closes at 12:30 p.m. CST in

the following MidAm contracts: All grain

and soybean contracts.

Trading closes at 1:20 p.m. CST in the

following MidAm contracts: U.S. Treasury

bond; U.S. Treasury bond option; and 5-

and 10-year U.S. Treasury notes.

Trading will be closed in the following

MidAm contracts: New York silver; New

York gold; options on New York gold

futures; and platinum

CME

WEDNESDAY, NOV. 25 All agricultural, currency and interest

rate futures and options close at

noon CST.

Equity, GSCI and E-mini S&P 500 products

close at regularly scheduled times.

GLOBEX2 opens at 2:10 p.m. CST

(regular hours).

THURSDAY, NOV. 26 Exchange trading floors are closed

in observance of Thanksgiving Day.

GLOBEX2 halts at 10:30 a.m. CST and

reopens at 5:30 p.m. CST.

FRIDAY, NOV. 27 All agricultural, currency and interest

rate futures and options, including

GSCI, close at noon CST.

Equity and E-mini S&P 500 products

close at 12:15 p.m. CST..

New York---FINANCIAL AND COMMODITY MARKETS

in New York will be closed Thursday in observance of the

Thanksgiving holiday.

Some N.Y. markets will close early Wednesday. FINEX

closes at noon CST. N.Y. palladium and copper futures close

at noon CST; silver futures close at 12:05 p.m. CST; and

gold and platinum futures close at 12:10 p.m. CST.

The Coffee, Sugar & Cocoa Exchange, New York Cotton

Exchange and the New York Mercantile Exchange will be closed

Friday. ACCESS trade will be closed Wednesday and Thursday

and reopen Sunday at 6 p.m. CST.

The New York Futures Exchange will close at 12:15 p.m.

CST on Friday.

FINEX and the New York Stock Exchange will close at

noon CST on Friday.