FuturesCom Investment Publications
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and More
Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988
5845 Autumn Ridge Rd Lake Worth Florida 33463 USA 561-433-2995 http://www.futurescom.com

Morning Comments

Friday August 21 1998

5:00 AM

On the Frenzied Forex Front

Sept. J-Yen

Support is at 6961 and 6941 then 6919
Resistance is at 7003 and 7061 then 7077 to 7088.

Sept. D-Mark Recommended Position long at 5610 and 5535

Nearby Resistance is at 5603 and 5616
Support is at 5553 and 5537.

Sept. Swiss Recommended Position long 2 avg. 6724

Nearby resistance is 6701 and 6722

Support is at 6655 and 6650 to 6638..

Sept. British Pound:
Support is at 1.6238 then 1.6150 and 1.6090. Below that support is at 1.6050 and 1.5990. Resistance is at 1.6334 and 1.6420

Sept. Canadian Dollar Recommended Position Long at 6533

Support is at 6508 and 6493 Resistance is at 6542. Then 6565

Precious Metals

Dec. Gold Recommended Position Long 3 avg. 289.80

Support is at 286.4 Day traders can buy at 286.5 for a bounce, risk a trade under 282.0

Resistance is at 290.1 and 294.4. However a close over 293.60 augurs for a test of 300.30 where good sellers should appear.

Traders should go long/ add if a close over 293.70 occurs.

Copper: Saturday's Bi-Weekly Will begin covering December Copper.

Oct. Platinum Recommended position long at 372.5 and 379.5

Support is at 371 then 365.5 and 363.5

Resistance is at 374.5/ 375.5 and 385.5

A close over 376 is friendly for a push towards 384

Sept. Silver Recommended Position long 3 at 562.9 avg., 1 at 507

Traders Should Roll All Sept. Silver to Dec. by the Close

On the DownSide: Nearby Support is at 507.5 and 500.5 then 489

On the Upside. Resistance is at 520 and 533

The Exciting Energies

Oct. Crude recommended position long at 1364

Support is at 1349 and 1305.

Resistance is at 1414 and 1423.

September Unleaded Gas recommended position long at 4249 and 4238
Roll All Positions to Oct. by the Close.

Nearby Support is at 4105 and 4055.

Resistance is at 4205 and 4250.

September Heating Oil Recommended Position long at 3748
Roll al positions to Oct. by the close

Resistance is at 3560 and 3655,

Support is at 3455 and 3350.

The Grande Grains

November Soybeans Recommended Position Long 3 avg. 565.5
and 1 at 540

Support is at 532 1/4 to 527 which should contain a break.
Day traders can buy at 532 1/2 for a bounce risk 5 cents

Resistance is at 546, and 547 1/2. Beyond that resistance is at 560 3/4

Dec. Soybean Meal Recommended long at 143.0, 143.4 and 138.30

Risk a close under 137.70 for three days in a row on all positions

Support is 137.10 Below that Support is near 136.40 and 132.8

Resistance is at 139.5 and 140.6. A close over 140.6 augurs for a test of 148.0

Trade Accordingly.

Dec. Soybean Oil recommended position long at 2376

Support is at 2438 and 2407 Day traders can buy at 2407 for a bounce, risk 20 pts. Resistance is at 2462 and 2469 then 2491

Dec. Corn Recommended Position long at 219 1/2

Support is at 214 3/4 and 216 1/2

Resistance is at 218 3/4 to 219 3/4 and 224 3/4

Dec. Wheat Recommended Position Long at 272 3/4

Resistance is at 273 1/2 and 278 1/2. Beyond that resistance is at 284.

On the DownSide Support is at 270 1/2 then 266 3/4

The Satisfying Softs

Dec. Cotton Recommended Position Long 2 at avg. 7190 and 1 at 7385.

Support is at 7435 and 7375, beneath that 7335 offers good support.

Resistance is 7505 Beyond that resistance is at 7575 and 7620.

Oct. Sugar
Support is at 845 and 832 and 809. Day traders can buy at 809, risk 15 pts.

Resistance is at 856 and 882

Dec. Coffee:

On the downside, support is at 110.10 and 109.60 to 109.20 then 107.20
which should stop a break for today.

On the Upside, Resistance is at 110.70 and 112.20 and 113.00 to 113.60 then 114.20

Dec. Cocoa Recommended Position Long 1560

Support is at 1569 and 1565 which should contain a break.

Resistance is at 1611 and 1619

Trade accordingly.

The Lively Livestock

October Cattle Recommended Position long at 3 @ 6210.
Support is at 5967 and 5887 then 5847 day traders can buy at 5847, risk 50 pts.

Resistance is at 5992 and 6042 then 6112

Long term Friendly

October Hogs Recommended Position Long 3 at 4302 avg. and 1 at 4327

Resistance is at 4357 4442 to 4452.

Support is at 4277 and 4257, day traders can buy at 4257, risk 50 pts.

Feb. Bellies recommended position long at 5500

Support is at 5492 and 5417. Resistance is at 5717 and 5800

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide, Support is at 124-16 then 124-02 and 123-19
On the Upside: Resistance is at 125-02 and 125-11

Traders should have been able to Exit the Recommended Short Sept. SP500 at 1092 this morn on globex.

Sept. SP500

On the DownSide, Support is at 1087.90 and 1082, below that 1068 should Hold.

On the Upside, Resistance is at 1096 and 1098.90 then 1101. Above that 1115.50 should cap a rally today. if Not a test of 1129.10 and 1130 is likely , Beyond that resistance is at 1133 then 1136. Sell at 1130 and hold..

The Dow Jones Industrial Average

Support is 8589 and 8560 then 8499 and 8484.

Resistance should first appear at 8633 then 8668 to 8683 Beyond that resistance is at 8718 and 8762 to 8777. Which should cap a rally today. Above that resistance is at 8795

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

Happy Trading

Bill

08/21/98 6:58 AM

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.