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, March 4th, 1998
12:04 AM
On the Frenzied Forex Front
March J-Yen
Support is at 7969 under that 7954 and 7939
Resistance is near 7992 and 8029 beyond that 8063 and 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 6811 , below that 6809 should hold.
A close under 6781 augurs for a test of 6764 to 6755. Below that traders
should Go long for a bounce at 6741. Risk 20 pts. Resistance should
begin at 6836 and 6850 to 6858 beyond that a test of 6871 is likely
which should yield a ‘pop’ to 6906 to 6919 then 6954. A close
over 7003 augurs for a Thrust to 7074.
Hearty Traders should Buy at 6809 for a day trade,
Traders should continue to expect a weaker Dollar over the next two weeks
March British:
Support is at 164.86 and 164.20 under that 163.74 and 163.20
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 165.20
then 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 5504 and 5492 then 5474 and It should hold.
Resistance is near 5553 and 5579 Beyond that 5606 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 7002 to the 6990 region. 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.
Precious Metals
April Gold
Support is near 295.3 and 291 to 288. Position Traders should
weakness at 288.5 and Hold. Resistance is 303.5 traders
can go long on a close of 303.6 or higher. Additional Resistance is near
310.7, traders can short at 311.5 for a quick turn only, risk a trade over
314.5.
Friendly, Buy Dips.
May Copper
Support is at 7740 and 7705, below that 7490 Resistance
is at 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 374.0 and 368 Buy at 369 for a 2-
day bounce, risk only $ 4.00.
Decline. Nearby resistance is 392 to 394 . A close over
395 augurs for a test of 399 to 404.
Long Term Friendly,
May Silver
Support is near 627 and 613 to 607 where day traders can buy at 609
and risk 10 cents. Resistance is near 646 and 653
Buy this dip
The Exciting Energies
April Crude Recommended Positions, long at 1603 and 1535 Hold
Early support is at 1505 /1506., day traders can buy at 1507,
risk 20 pts. Resistance should first appear near 1542 and 1577
A close today over 1542 is friendly
April Unleaded Gas Recommended Position long at 5260 Hold
Support should appear near 4995 Resistance is near
5135 and 5165.
Friendly, Buy dips.
A close over 5135 augurs for a test of 5345.
April Heating Oil Recommended Position Long at 4445 and 4320 Hold
Support is 4115 Resistance near 4370 and 4415
A close over 4370 is friendly and augurs for a trade
to 4490.
The ‘Grande’ Grains
May Soybeans
Support is at 652 1/4 and 649.
Resistance is near 656 1/2 and 657 3/4
A close over 657 augurs for a test of 672.
July Beans Recommended Position: Long (2) at 663
Support is at 657 3/4 and 655 3/4
Resistance is 661 to 662 3/4
A close over 661 1/2 maintains a friendly posture
May Soybean Meal
Go long May Meal on a close over 182.5
Support is 175.5 and 171 Resistance is near 177.8
and 181.
May Soybean Oil
Support is at 2611 and 2607 Resistance is near
2705 to 2711 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 272 3/4 Resistance is near
275 to 277 3/4
May Wheat
Support is near 338 3/4 and 332 1/4
Resistance is near 344 , a close over 344 augers for a test of
349 3/4 and 355
July Wheat Long (2) at 342
Support is at 344 3/4 and 340 3/4
Resistance is near 354 and 359 to 361
Be long
The Satisfying Softs
May Cotton Recommended Position short at 6825
Support is 6735 under that 6675
Resistance is 6780 and 6820 beyond that 6880
May Sugar
Nearby support is 972 and 942
Resistance is near 1001 and 1022
May Coffee Recommended Position Long at 156.90
On the Downside, Good Support is at 152.40, day traders can buy
at 153.30 stop for a reversal, if elected, exit near 157.
A close over 152.50 is friendly.
If the Coffee Cools off and trades down to 141.70 Traders should go
long and hold.
On the Upside, Early resistance is near 155.25 and 156.90
an extended trade over 157.70 augurs for A test of 164.20 and 165.50 where
resistance remains beyond that 167.00 offers Resistance. Above
that 171.70 and 173.10 to 173.80, beyond that 176.45 should trade.
Still Friendly, Traders Who have Ice Water in their Veins should buy this dip for a turn higher by Thursdays open
A close over 155.50 augurs for a higher mkt.
Pick Your Poison and Keep a Steel 'Cup’ handy.
May Cocoa
Resistance is 1603, above that a trade to 1638 should occur.
Beyond that 1647/1648 region offer's resistance and should
be considered critical. Day Traders can sell at 1647 and risk 20 pts.
Support is near 1574 then 1553.
The Lively Livestock
April Live Cattle
Support is 6465, day traders should buy with ‘Both hands’ at 6467,
risk 50 pts under that support should appear near 6392
with 6330 under that.
Resistance is near at 6537 and 6612
Traders should go long if a close over 6545 occurs.
April Hogs Long 5145 (5015 and 5430 result of unwinding
the spreads.)
Resistance is at 4842 and 4872 Support is near 4777 and 4717
A close over 48454 is friendly.
June Hogs Recommended Position Long at 5642
Support is near 5652, day traders can buy at 5657 for a bounce,
risk only 40 pts.
A close over 5717 augurs for a test of 5892. Eventually a move
to 6100 is likely as the season progresses
Recommended Spread Position long 2 June Short 2 Oct. at 290 over
March Bellies Recommended Position Long at 4612
Hold
May Bellies
Support is near 4157 and 4077 below that Traders
should buy at 4002 for the ‘Pull’ Under that support should
be evident near 3990 Resistance is near 4370, trader
should go long on a close over 4435
'From the Frying Pan into the Fire'
The Sensational Stock and Bond Markets
June 30 Yr. Bonds
Support is 118-11 and 117-26 an eventual test of 117-12 is likely.
Resistance is near 119-02 and 119-12 beyond that 119-26 More
resistance is 120-26
A close over 119-02 is mildly friendly..
Bonds now appear to heading towards 116-15 to 115-18
March SP500 Recommended positions Short at 1023 and 1035.80
On the Downside, Support is at 1054.30, an extended trade under
154 augurs for a test of 1049.20 and 1047.00 beneath that 1041.80
offers good support. Below that 1036 and 1032 offer support. However
a Close under 1047.00 indicates a test of 1024.80 to 1023.30 which is critical
and should hold.
On the Upside, Early resistance is at 1058.10 where traders can
sell at 1058, risk 600 pts. Beyond that 1063.4 should cap any rally with
1068 beyond that.
* A close under 1049.20 is negative, if this occurs traders who have 'Ice Water Running through their Veins' should Go Short or Add.
The Dow Jones Industrial Average
Initial support at 8560 and 8522 to 8499 then 8492.70
to 8484. Beneath that 8476.8. 8492 is critical basis the close.
Beneath that 8445 or 8396 should hold if upside momentum is
going to continue. For today Resistance is near 8620 to 8628 and
should cap the rally.
A close under 8510 is negative.
This Newsletter is Dedicated to Risk, Without Risk there is no Reward.
Happy Trading
Bill
Wed March 4th 1998
12: 41 AM
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