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September 18th 1998

Friday Sept. 18th 1998
5:00 AM

On the Frenzied Forex Front

Dec. Japanese-Yen

Support is at 7659 and 7601 then 7513 to 7486 and 7459 to 7439.

Resistance is at 7763 to 7770. 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 5958 and 5964. Beyond that 6000 to 6014

Support is at 5900 then 5888. Below that 5858 should hold. A close under 5855 augurs for a test of 5808 to 5792.

Dec. Swiss

Resistance is at 7274 and 7304. Beyond that 7328 to 7342 and 7368.

Support is at 7242 then 7213 and the 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 1,6686 and 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 6524 and 6509. Below that Support is at 6483. Traders can go long at 6509 for a turn higher, risk a close under 6480 for three days in a row.

Resistance is at 6574 and 6577 to 6591.A close over 6591 augur for a test of 6619 to 6624. Traders should sell at 6624, risk a close over 6673 for two days in a row. Beyond that resistance is at 6741.

Precious Metals

Dec. Gold Recommended Position Long at 293.80

Support is at 292.3 and 288. Beneath that support is at 287
Resistance is at 297.20 to 298.80. 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: recommended posittion long ast 7515

Nearby Support is at 7415 and 7385. 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 7560 and 7680 .

Oct. Platinum Recommended position long at 372.5 and 379.5

Nearby Support is at 357.6, below that a dip to 348 should hold.
Resistance is at 367 to 368 A close over 368 is friendly for a rally towards 375

Dec. Silver Recommended Position long at 4 at 521

On the DownSide: Support is at 493 and 487 where it 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 506.5 then 511.
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

Nov. Crude recommended position long at 1477

Support is at 1478 and 1458 then 1434.

Resistance is at 1538 and 1569

Trade Accordingly.

Oct. Unleaded Gas

Support is at 4355 and 4280. Below that 4163 and 4137 should hold.

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

Support is at 4055 and 3990

The Grande Grains

November Soybeans Recommended Position Long 516 1/2

Support is at 520 then 515 1/2.

Resistance is 529 1/2 and 537. If it holds a test of 555 1/4 is likely.

Dec. Soybean Meal Recommended long 143.80 and 138.30

Support is at 129.90 where it should hold.

Resistance is at 133.90 and 135.60 then 137.50 and 138.0 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.

Resistance is at 2590 and 2612 to 2620. Where good resistance should appear.

Dec. Corn

Support is at 205 3/4

Resistance is at 210 3/4 then 215 1/2

Dec. Wheat

Resistance is at 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 and 7414. Below that 7342 should hold basis the close.
Resistance is at 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 686 to 682

Resistance is at 712 and 722.

Dec. Coffee: recommended position long at 111.20

On the downside, Support is at 1005 and 1000 and 9985 to 9850

On the Upside, Resistance is at 103.20 to 103.60 and 105.80

Dec. Cocoa

Support is at 1496 and 1484.

Resistance is at 1529 and 1535.

The Lively Livestock

October Cattle

Support is at 6227 to 6212 then 6162 and 6102.

Resistance is at 6257 to 6270 then 6337 to 6350

October Hogs.
Resistance is at 4157 and 4187 and 4217 then 4237 to 4252.

Support is 4112 and 4107 then 4047 to 4047, under that 3997 should hold.

Dec. Hogs

Support is at 4012 then 4002 under that 3907 to 3892 should hold.
Resistance is at 4092 to 4102 above that resistance is at 4132 and 4202.

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

Support is at 4737 under that 4587 to 4512 should hold Day traders can buy at 4587 for a good bounce. Resistance is at 4812 and 4887 An extended trade over 4887 augurs for a test of 5032.
--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 128-05 and 127-17 On the Upside: Resistance is at 129-05 and 129-17 Day traders can sell at 129-17. Risk 8 pts. Above that resistance Is at 130-05.

Dec. SP500

On the DownSide, Support is at 1030 then 1021.80 and 1018.50. a slip under 1018.50 augurs for a test of 1012.10 and support near 1005.80 and 1000.

On the Upside, Resistance is at 1033 to 1036 / 1037.80 . Above that resistance is at 1044.10 and 1053.80 then 1058 to 1059.10. beyond that 1065.90 to 1068 / 1069.70 should Cap a rally for now and be sold, stay tuned .

The Dow Jones Industrial Average

Support is at 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 is at 7901 and 7939 to 7954 beyond that 8039 to 8044 offers good resistance above that 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

9-18-1998 6:15 AM

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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.