FuturesCom Investment Publications
Morning Comments 9-15-1998
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"What the Wise do in the Beginning, Fools do in the End."
Warren Buffett  

Monday Sept. 14th 1998

6:12 PM

On the Frenzied Forex Front

Dec. Japanese-Yen

Support is at 7587 and 7513 to 7486.

Resistance is at 7763 to 7770 and 7839 to 7864. Above that good sellers should

appear at 7902 and 7939 to 7954. Traders should sell short at 7934 for a turn lower, risk a close over 7954 for two days in a row.

Dec. D-Mark Recommended Position short at 5815 and 5945 (avg. 5880)

Nearby Resistance is at 5945 Beyond that good resistance is at 5958 and 6008 to 6014.

Support is at 5908 then 5888. Below that 5858 should hold. A close under 5855 augurs for a test of 5808 to 5792.

Dec. Swiss recommended position short at 7242

Resistance is at 7242 and 7256 then 7328 to 7342 and 7368.

Support is at 7170 to 7143 region , below that and 7098 to 7088 offers support.

Trade Accordingly

Dec. British Pound Recommended position short at 1.6658
Support is at 1.6550 and 1.6420. Below that support is at 1.6380 and 1.6320 then 1.6200 to 1.6150. Resistance is at is at 1.6788 and 1.6890 to 1.6960 Traders can sell at 1.6890 for a turn lower, risk a close over 1.6960 for three days in a row.

Dec. Canadian Dollar

Support is at 6591 then 6577.

Resistance is at 6637 and 6645.

Precious Metals

Dec. Gold Recommended Position Long at 293.80

Support is at 291.90 Beneath that support is at 290.6 and 289.90
Day Traders can buy at 290.90 for a bounce, risk $ 4.00

Resistance is at 293.70 and 297.20. Beyond that resistance is at 300.60 and 303.60 where good sellers should appear. However close over 300.60 augurs for a test of 310.60 to 312.90 and our eventual target of 314.80 to 318.. if it holds.

Dec. Copper:

Nearby Support is at 7515 and 7485. Traders can buy at 7515 for a turn higher. Below that support is at 7315. Traders should buy at 7345, risk a close under 7100 for three days in a row.

Resistance is at 7680 and 7760 to 7770 and 7835 to 7865.

Oct. Platinum Recommended position long at 372.5 and 379.5

Nearby Support is at 365.5 and 362.3 then 359.7
Resistance is at 373 to 375.6 A close over 375 is friendly for a rally towards 387.5.

Dec. Silver Recommended Position long at 4 at 521

On the DownSide: Support is at 491.5 Below that 487.8 should hold. Under that Traders can buy at 480 for a good 2 to 3 day bounce. Stay tuned for a stop.

On the Upside. Resistance is at 498 then 507.5 and 513.5.A close over 507. 5 augurs for a test of 519 to 524. Eventually a test of 547 is not out of the question.


The Exciting Energies

Oct. Crude recommended position long at 1427

Support is at 1421 and 1415 to 1409. Below that 1383 and the 1377 /1368 regions should hold. Traders can buy at 1383, risk a close under 1346 for three days in a row.

Resistance is at 453 to 1459 and 1472. A close over 1459 augurs for a test of 1484 to 1496.

Trade Accordingly.

Oct. Unleaded Gas

Support is at 4315 and 4300 then 4236. Below that 4163 and 4137 should hold.

Resistance is at 4423 to 4446. Above that resistance is near 4505 to 4515. Traders can go short at 4505 for a turn lower, risk a close over 4585 for two days in a row.

Trade Accordingly.

 

Oct. Heating Oil recommended position long at 3830

Resistance is at 4163 to 4180.A close over 4117 is friendly and augurs for a test of 4222 to 4238.

Support is at 4048, day traders can buy at 4048 for a bounce , risk 70 pts. Below that support should appear at 3992 to 3982

The Grande Grains

November Soybeans Recommended Position Long 540 and 516 1/2

Support is at 528 1/4 and 525. Day traders should buy at an early dip to 528 3/4 and plan on a risk of 8 cents. Below that support is at 520 1/4 then 513 1/2.

Resistance is 537 1/2 and 542. If it holds a test of 555 1/4 is likely.

Dec. Soybean Meal Recommended long 143.80 and 138.30

Support is at 131.90 and 129.20 where it should hold.

Resistance is at 134.80 and 135.60 then 137.10 and 138.90 Where good sellers should appear. Trade Accordingly.

Dec. Soybean Oil recommended position long at 2466

Support is at 2552 and 2537 then 2519 and 2513 to 2511. Day traders should buy at 2537, risk 50 pts. Below that 2499 should hold.

Resistance is at 2560 and 2568. Another extended trade or close over 2568 augurs for a test of 2612 to 2620. Where good resistance should appear.

Dec. Corn

Support is at 207 1/2 then 204 3/4

Resistance is at 211 then 214 1/2 to 217 1/2

Dec. Wheat

Resistance is at 265 3/4 and 271

On the DownSide Support is at 261 then 254 to 253 3/4.

Traders can buy at 254, risk a close under 247 for three days in a row.

Trade Accordingly.

The Satisfying Softs

Dec. Cotton Recommended position long at 7385, 7593 and 7428

Support is at 7435 then 7414 and 7385. Below that 7342 should hold basis the close.
Resistance is 7513 . A close over 7515 augurs for a test of 7600 to 7630. Traders should add/go long if a close over 7515 occurs.

Oct. Sugar recommended position long at 739
Support
 is at 704 then 695. Below that 688 to 682 which should hold.

Resistance is at 712 and 724 to 728. A close over 728 is friendly for a test of 735 to 739. Beyond that 753 and 763 to 767 offers resistance.

Dec. Coffee: recommended position long at 111.20

On the downside, Support is at 100.50 to 100.00 then 99.35 to 99.20.

On the Upside, Resistance is at 103.20 to 103.60 then 104.55 and 105.80 to 106.80 .

A close over 103.60 is friendly.

Dec. Cocoa recommended position long at 1616 and 1577.

Support is at 1576 and 1569 to 1566 to 1561.

Resistance is at 1593 and 1604 to 1609 then 1616.

The Lively Livestock

October Cattle

Support is at 6092 then 6057 and 5992.

Day traders can buy at 6092 for a bounce . Risk 80 pts.

Resistance is at 6187 to 6212 and 6290.

October Hogs Recommended Position Long 3 at 4302 avg., 4327, 4057.
Resistance is at 3987 and 3992. A close over 4057 augurs for a test of 4210.

Support is 3867, day traders can buy at 3872 and risk 100pts. Below that 3787 should hold.

Dec. Hogs Recommended position Long at 4057

Support is at 3912 then 3887 and 3867 to 3857 offer good support.
Resistance is at 3987, above that resistance is at 4022 and 4087.

Feb. Bellies recommended position long at 5500, 5550 and 2 at 4825

Support is at 4450 Day traders can buy at 4422 for a good bounce. Below that support is at 4382 to 4367 and 4322, under that and 4272 should hold. Resistance is at 4572. An extended trade over 4572 is augurs for a test of 4722. A close over 4722 is friendly for a test of 4837.

--From the Frying Pan into the Fire-

The Sensational Stock and Bond Markets

Dec. Bonds Recommended Position Short at 127-07 and 127-19

On The DownSide, Support is 128-02 and 127-26 Another slip under 127-26 augurs for a test of support at 127-18 and 127-01. On the Upside: Resistance is at 129-01 to 129-05. Day traders can sell at 129-01. Risk 10 pts. Above that 129-10 offers good resistance as does 129-27 to 130-01.

Dec. SP500

On the DownSide, Support is at 1038.50 then 1036 and 1033 to 1030.

Day traders can Buy at 1036 for a good bounce, put your own risk on it
A close under 1030 augurs for a test of 1021.50 to 1018.50 then 1012.80.

On the Upside, Resistance is at 1044.80 for a turn lower. Stay tuned ..Beyond that resistance is at 1049 to 1051.60. Above that resistance is at 1058 to 1059.10. beyond that 1065.90 to 1068 should Cap a rally for now and be sold, stay tuned .

The Dow Jones Industrial Average

Support is at 7039 and 7901 then 7864 and 7836. Below that 7777 and 7763 should hold. A slip under augurs for a test of 7689 to 7675 and 7646. should hold basis the close. Resistance should first appear at 7954. Beyond that resistance is 7992 and 8029 to 8044. Beyond that 8052 and 8119 to 8134 should cap a rally. .

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

Happy Trading

Bill

9-14-1998 6:39 PM

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