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.
Wed , January 27, 1998
5:00 AM
On the Frenzied Forex Front
March J-Yen
Nearby support is at 7997 and 7954 below that 7939 Below that that 7892 to 7864 should act as Support. If that fails traders should buy at 7718 risk a close under 7657 for two days in a row. Resistance is near 8000 and 8029 beyond that 8089 and 8119 to 8136. Sell Short at 8194 for a turn lower, risk a close over 8209 for three days in a row.
Trade Accordingly
March Swiss Franc Recommended Position long at 6783 & 6906
Support should appear at 6839 below that 6836 to 6815 should hold, traders should have buy orders waiting to Buy at 6836, risk a close under 6809. Resistance begins at 6880 and 6915 to 6930 Beyond that a test of 6980/ 6990 to 7003 then 7023 to 7029 is likely.
A close over 7023 augurs for a Thrust to 7074. A close over 7088 augurs for a 'pop' to 7123 and most likely the 7143 to 7170 region where resistance should appear. A close over 7170 indicates a pop to 7243. Sell there at 7242 for position, risk a close over 7257 for two days in a row
March British: Recommended Position long at 165.50
Support is at 16260 and 161.90 Resistance is near 163.64 and 164.20 A close over 163.64 friendly for a rally to 165.50
March D-Mark Recommended Position long at 5588
Early support is at 5540 and 5531 Below that support should appear near 5504 where day traders can buy at 5505 for a bounce, risk a trade under 5488. Nearby Resistance is at 5577to 5581 then 5631and 5646, beyond that 5678 and 5716 to 5729 A close over 5716 augurs for a pop to 5792 / 5805. Traders should sell at 5834 for a quick turn lower , stay tuned for a stop. In addition Good sellers should appear near 5860, sell at 5860 for a position risk a close over 5912 for two days in a row.
Trade Accordingly
March Canadian Dollar Recommended Position Long at 7002 and 6909
Support is near 6836 and it should hold.
Resistance is near 6890. A close over 6890 augurs for a test of 6919
Trade Accordingly...
Precious Metals
April Gold Recommended Position long at 299
Support is near 298.5 and 294 Below that 287 offers a buying region. Resistance is 303.9 then 307.7 and 309.3 , traders can exit /sell short at 308 then risk / go back long on a close over 310. A close over 310 augurs for a rally back to 317 to 320 Beyond that 330 is likely to be tested.
March Copper
Support is at 7950 and 7865 , traders should buy at 7865 , risk a close under 7820 for two days in a row. Below that 7790 then7750 and 7610 to 7590 should stop the decline , go long March Copper at 7590 for a turn higher , risk a close under 7510.
Resistance is at 8150. beyond that 8190 and 8350, a close over 8225 indicates a rally back to 8540 Above that traders should sell at 8850 risk a close over 8870 for three days in a row.
A close under 8065 is negative.
April Platinum
support is near 377 , buy at 380 a close under 373 for three days in a row. Below that should appear near 374 and 369. Buy at 369 for a 2- day bounce , risk a close under 358. Resistance is 394 and 397. Beyond that 407 should trade. With a possible ‘touch’ of 413 or higher Traders should sell at 423 , risk a close over 425 for three days in a row. Beyond that 440 and 460 should trade.
Trade Accordingly
March Silver
Support is at 587 and 573. Traders should Buy March Silver at 567.5 , risk a close under 544. Below 567.5, buy at 558 for a bounce, risk 10 cents.
Resistance is near 613. The close over 610 is friendly for a test of 637/ 640 then 671, sell at 671 risk a close over 677 for two days in a row.
Buy Dips
The Exciting Energies
March Crude Recommended Position Long at 1656
Support is at 1675, and 1650 Resistance should appear near 1700 and 1725. Above that 1763 offers resistance
March Unleaded Gas
Early support is near 5175 and 5070. Resistance is near 5270 and 5370
March Heating Oil
Support is near 4715 and 4580 . Resistance is near 4830 and 4910
The ‘Grande’ Grains
March Beans: Recommended position Long at 667.
Early support is near 674. Below that Go long at 669 for a bounce , risk 10 cents. Beneath 669 support should appear at 663.
Resistance is near 686. A close over 685 is bullish for a trade to 691. Beyond 692 , 704 offers resistance ,traders can sell at 703 for a quick turn lower, risk a close over 711 1/2 for three days in a row and stay tuned.
Trade Accordingly
March Soybean Meal Recommended Position Long at 195.50
Support should appear at 196.50 and 195.50below that Buy at 192.6 risk a close under 188 for three days in a row. Resistance is near 201.5 , beyond that 209 offers resistance sell at 209, risk a close over 213.5 for two days in a row.
March Soybean Oil
Early support is at 2557 below that Buy at 2557 , risk a close under 2510 for three days in a row. Beneath the 2510 region 2469 offers support as does 2436 , buy at 2461 risk a close under 2419.
Resistance is near 2629. Above that sell at 2663 for a turn lower , risk 100 pts.
March Corn
Support is at 273 to 271 , traders should begin purchases of March corn at 273 3/4. risk a close under 271 for three days in a row.
Resistance is near 281 1/2 and 284 , a close over 284 augurs for a ‘pop’ to 292 and beyond
March Wheat
Support is at 340 and 331 3/4. Traders should Buy March Wheat at 331 3/4 and hold .
Beneath that 329 to 323 should be considered a buying region. Go long at 326, and hold.
Resistance is near 342 and 347 1/2 346, beyond that 353 should trade. A close over 355 1/2 indicates a thrust to 367
Trade Accordingly
The Satisfying Softs
March Cotton Recommended Position long at 6590
Support is at 6479, below that buy at 6417 risk 100 pts. Resistance is at 6535 and 6597 to 6605 A close over 6605 augurs for a test of 6675 and 6705. .
A close over 6535 is friendly.
Trade accordingly.
March Sugar Recommended Position Long at 1203,1169 and 1101
Support near 1101 and below that 1091 should hold. Resistance is 1131 and 1135. A close over 1135 augurs for a 'pop' to 1149 then 1167.
March Coffee Recommended Position long at 178.00
Early support is at 170.35 and 167.70 to 165.50 should hold. Traders should buy at 164.20 , risk a close under 162.50 for two days in a row. Beneath that a decline to 158.20 should be considered a buying opportunity. Buy at 157.60 , risk a close under 153.50 . Beneath that 150.50 to 148.10 offer support.
On the Upside, resistance is near 172.90, a trade over augurs fora pop to 175.25 and 179.90. Beyond that 180.80 to 182.20 ,
When Trading Coffee, one should keep a ‘Steel Cup’ handy.
Trade accordingly
March Cocoa Recommended Position Short at 1576
Traders should use a 1634 Buy Stop Close only Today.
Early resistance is located at 1654 and 1677 Traders should sell at 1677 , risk a close over 1689 for two days in a row. The 1680 / 1696 region offers more sellers, above that 1713 is likely to trade and 1737 should cap a rally. Support is near 1634 and 1584
The Lively Livestock
Feb. Cattle Recommended Position, long at 6622
Traders Should Roll The long Feb Cattle on Open to April
Support is near 6492 and 6477. should hold.
Early Sellers should appear near 6567 and 6622
April Live Cattle Recommended position long at 7170,7150,7130 and 3 at 6845
Support is and 6777 and 6732 . Resistance is near 6855 and 6882 Trade Accordingly.
April Hogs Recommended Position , long at 5787
Resistance is at 5837 and 5852 , beyond that 5887. Support is 5792 and 5772, below that 5677 should hold.
Recommended Spread Position, Long April Short June Hogs, 5 at 817 and 5 at 757
Hold
Feb. Bellies Recommended Position Long at 5447 , 4 at 5090, 4 at 4650
Early support is at 4952 and 4882 under that 4857 offers good support. Resistance is near 5075. Beyond that 5147 to 5172 offers a selling region. However, a close over 5170 augurs for a test of 5227 where sellers should appear.
Friendly, Buy Dips and stay tuned.
The Sensational Stock and Bond Markets
March Bonds
Near Term support is at 120-09 and 119-16 Resistance is at 121-09 and 121-16 , sell at 121-21 risk a close over 122-10 .
Beyond that a trade to 123-09 is likely , sell at 123-09 and hold.
March SP500 Recommended Positions, short at 954.20, 958.40 and 970.50
On the Downside; Support is near 977.90 and 973.70 to 972.10 under that 971.10 and 970.50 . el;ow that 968.80
On the Upside Resistance should appear near 982.10 to 983.70 and 986.20 all offer resistance, sell at 986.20, stay Tuned for the stop. Beyond that 987.70 should cap a rally.
Trade Accordingly and stay tuned for new trades and analysis designed
to take advantage of moves in either direction.
The Dow Jones Industrial Average(cash)
Initially 7777 must hold basis the close if not a dip to the 7696 region then 7555 region is likely. Below that 7513 to 7493 with 7486 basis the close should be considered critical. Below that 7462/ 7457 offers some support. A close under 7462 augurs for a test of 7428 and 7414 which should bring out a few buyers . If not a decline to 7342 and the 7279 region is likely. A close under 7242 is negative for a decline to 7170 , under that 7088 and 7003 should stop the break. If not a test of 6954 is likely.
Resistance is near 7840 to 7854 that should encourage traders. A close over 7880 augurs for a test of 7920 and 7934 to 7954. Beyond that 7969 and the 8005 to 8029/ 8044 should cap a rally
Happy Trading
Bill
Wed January 28, 1998
7: 45 AM
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