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.
 
 

Thu, February 26, 1998

March J-Yen Recommended Position Long at 7963
support is at 7719 to 7716 with 7689 to 7675 beneath that.
Hearty  Traders can buy for a position at 7719. Risk  a close Under 7670 for three days in a row.  Resistance is near  7822 to 7845 then 7909 to 7922  A close or extended traded over 7865 is friendly, traders should go long if that occurs.  Additional Resistance should appear at 7963 and 8019 beyond that 8122.  If a sharp rally occurs Traders can go short at 8223 for a turn lower , risk  50 pts basis the close.

March Swiss Franc
Support should appear at 6809 and 6797 to 6781.  A close under 6781 augurs for a test of 6755. Below that traders should  Go long for a bounce at 6741. Risk 20 pts. Resistance should begin at  6893 and 6906 to 6919 then 6944.  A close over 7003 augurs for a Thrust to 7074.

Traders should expect a weaker Dollar over the next two weeks

March British:
Support is at 163.20 under  that 162.34.
Below that Support is near 161.50 to 160.90. Traders should buy at 161.50 for a bounce, risk a trade under  160.80. Resistance is at 165.50 and 167.30.   Beyond that sellers should appear near 169.60. Sell short at 169.40, risk a close over 169.96 for two days in a row.

March D-Mark Recommended Position Long at 5578
Early support is at 5499  and 5495. It should hold.  Resistance is near  5581 and 5596  Beyond that 5602 and 5640 offer's  resistance. Traders should sell at 5640 for a quick 'day' turn lower, stay tuned.

Trade Accordingly

March Canadian Dollar
Support is near the  7019 and 7002 to 6990  regions . Traders can buy at 6990 , risk a close under 6970 for three days in a row. Resistance is near 7074 and 7088.  Traders should short at 7086 for a turn lower, risk a close over 7089 for three days in a row. Beyond that Resistance is near 7143
 

Friendly, Buy Dips.

May Copper Recommended Position Long at 7600
Support is at  7350 and 7070  below that  traders can buy at 7060 for a good  bounce , risk a close under 6990 for three days in a row.  Resistance is at 7835.  Traders should have gone long on a close higher that 7515.
Beyond that 7865 offer's resistance, a close over 7880 indicates a rally back to 8070, and 8300 . above that traders should sell short at 8480 risk a close over 8500 for two days in a row.

April Platinum
Support is near  371.5.  Below that support should appear  near 370.4  and 368 Buy at 369 for a 2- day bounce , risk  only  $ 4.00 . Below that 344 should stop any
decline.  Nearby resistance is  390.4, a close over 391 augurs for a test of  399 to 404.

Long Term Friendly
 
March Silver
Recommended Position /long at  627 and 601 last eve, cancel all stops until further notice.
Support is at  568 and it  should hold.  Resistance is near 629  A close over 630 is friendly and augurs for a test of 696 ..
 

May Silver
Support is near 590   Resistance is near 647 , a close over augurs for a test of 669 and 694
Be Long

                             The Exciting Energies

April Crude Recommended Positions , long at 1603 and 1535
Early support is at  1540  Resistance should first appear near 1555 and 1570 to 1590

April Unleaded Gas Recommended Position long at 5260
support should appear near  5115 and 5050  Resistance is near  5155 and 5250.
Friendly , Buy dips.
 A close over 5160 augurs for a test of 5345.

April Heating Oil Recommended Position Long at 4445 and 4320
Support is  4230 and 4170 Resistance near 4375, a close over   4370 is friendly
and augurs for a trade to 4490.
 
 

March Beans: Recommended Position Long at 677 1/2 and 651 , Traders should roll to July (for a longer term trade )on open

May Soybeans
Support is at  654 3/4   Resistance is near 668. A close over 668 augurs for a thrust towards 678

May Soybean Meal
Go long May Meal on a close over 182.5.
Support is 174.9 Resistance is near 179 and 186.

May Soybean Oil
support is at  2617 / 2589 region where traders should have Buy orders waiting for a bounce, buy at  2590, risk a close under 2568 for three days in a row. If that fails , a dip to 2514 is likely, buy at 2519 risk a close under 2510 for two days in a row.
Resistance is near 2758 to 2775,  Traders should sell at 2757, risk a close over 2798 for two days in a row.

May Corn Recommended Position Long at 271
Support is  at  266.   Resistance is near  275 a close over 275.  augurs for a ‘pop’ to 280 / 281.

March Wheat Recommended Positions , long at 331 1/2 and 326
Traders should Roll to July Wheat on Open ( for longer Term)

May Wheat Recommended Position long at 329 3/4
Support is near 324 and 312. Resistance is near 336 and 341. Beyond that 347 and 359.

May Cotton  Recommended Position Long at 6610 and 6575
Support is 6607 to 6580,  Resistance is 6700 , beyond that 6825, exit and short at 6825 , risk a close over 6920 for three days in a row.
 

May Sugar
Nearby support is 954  and 917. Resistance is near 994 and 1002
 

May Coffee
On the Downside,  support is at  169.60 to 168.90. Below that 166.70 and 164.20 should hold,  more support should appear near 163.50 and 161.50/ 161.10. Closing under 160.90 augurs for a slip to 156.35 Aggressive Traders should have buy orders waiting at  156.90, initially plan a risk on a close under 153.50.
If the Coffee Cools off and trades down to 141.70 Traders should go long and  hold.
On the Upside, resistance is near 171.70 and 173.10  to 173.80, beyond that 176.45 should trade.
A close  over 176.45 augurs for a rally to 181.20  with a likely test of  182.20 where resistance remains. Above that  190.20 to 190.90 should cap a rally for a bit.
If the Coffee Boils over and trades to 212.60 Traders should sell and  risk a close over 213.40. for two days in a row

Still Friendly..

Pick Your Poison and Keep a Steel 'Cup’ handy.
 
May Cocoa
Resistance is 1594 Beyond that  a trade to 1642 /1655  should occur.
Support is near 1556 and 1535 to 1529.  Below that support should appear near  1522 then 1496 to 1483.  A close under 1483 augurs for a  slip to  1459 to 1453, buy at 1452  risk a close under 1436 for two days in a row.
 

April Live Cattle
Support is 6377 and 6342.   Resistance is near at 6452 and 6492. A close over 6492 is friendly for a short covering rally to 6627. Traders should go long if a close over 6545 occurs.

April Hogs  Long at 5145
Resistance is at 4932 and 4972 Support is near 4832

A close over 4887 is friendly

Recommended Spread Position long April Short June at 820  and 865 under.
HOLD

March Bellies Recommended Position Long at 4612
Hold

May Bellies
Support is near  4110 and  3937 Traders should hold buy at 4002 for the Pull  Resistance is near 4422 and 4487 to 4512, a close over 4427 is friendly for a rally to  4557 to 4575.

'From the Frying Pan into the Fire'

June  30 Yr. Bonds
Support is 119-22 , a close under is negative for a slip towards 118-22
Resistance is near 120-22 , day traders should sell at 120-27 and risk 10 pts.
More resistance is 121-21.

March SP500  Recommended positions Short at 1023 and 1035.80
On the Downside, Support is near  1039.70 then  1031.50, below that 1028.80/ 1028.60 is critical and should hold basis the close. As should 1024.80, a close under 1024.80 augurs for a slip  to the  1013.60/ 1013.10 region with  1012.00 and 1010.4  under that.
A slip under 1008.90 augurs for a trade to 1004.30 and the 1003.70/ 1003.40 region  with 1002.10 below that.  Failure of 1004.20 basis the close indicates a  decline to 991.80
On the Upside, Resistance is at 150.60  Beyond that 1057 to 1058
offers, traders can sell at 1058, risk 600 pts. Beyond that 1068 is  likely.

* A close under 1039.70 is negative, if this occurs traders who have 'Ice Water Running through their Veins'  should Go Short.

The Dow Jones Industrial Average
Initial support at  8408 and 8403 being  critical basis the close. Beneath  that 8390 should hold , if upside momentum is going to carry , below that 8223 should contain a break however if the Dow fails at 8223 basis the close a  slip to 81143 to 8119 is likely. Resistance is near  8464 and 8884 to 8499 offers resistance as does 8532 which should cap the current rally  Beyond that  sellers should appear near 8560 to 8589

This Newsletter is Dedicated to Risk, Without Risk there is no Reward.

Happy Trading

Bill

Thu February 26, 1998
7:55 AM

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