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.
 

Thursday March 5th 1998
10:30 PM

On the Frenzied Forex Front

The Forex mkts on the IMM Roll to June as front month on Monday
Traders should cancel all remaining orders for the March Contracts
The March 8th Issue of FuturesCom Bi-Weekly  Investment Outlook II will  include  June Currencies
 
March J-Yen
Support  is at  7779 to 7763  and 7736 Resistance is near 7850 then 7873

March Swiss Franc
Support should appear at  6673 day traders can buy there and risk a trade under  6638  Resistance should begin at  6728 and 6768

March British:
Support is at  161.50 to 160.90. Traders should buy at 161.50 for a bounce, risk a trade under  160.80. Resistance is at 164.20

March D-Mark Recommended Position Long at 5578
Early support is at 5430  and 5418   Resistance is near   5460  then 5504.
 

March Canadian Dollar
Support is near the 7010 and 7002 to the 6990  region. Resistance is near 7050 and 7088.
 

Precious Metals
April Gold
Support is near 291 to 288. Position Traders should weakness at 288.5 and Hold.
Cancel all remaining Orders

Friendly, Buy Dips.

May Copper
Support is at  8035, and 7955 Resistance is at  8480 sell there and 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 627.5 then 620. and 593 Resistance is 644 and 659
Buy this dip
 

                             The Exciting Energies

April Crude Recommended Positions, long at 1603 and 1535 Hold
Early support is at  1529 and 1509  day traders can buy at 1511, risk  20 pts.  Resistance should first appear near 1535  and 1549 , a close over 1535 augurs for a  test of 1564

patience..

April Unleaded Gas Recommended Position long at 5260  Hold
Support should appear near  4890    Resistance is near  4990 and 5015 then 5165.

Friendly, Buy dips.
 

 A close over 5015 augurs for a test of 5200.

April Heating Oil Recommended Position Long at 4445 and 4320 Hold
Support is 4270  and 4205   Resistance near 4315 and 4370
A  close over  4320 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  658 3/4

A close over 657 augurs for a test of 672.

July Beans Recommended Position: Long (2) at 663
Support is at 656 1/4 and 655 3/4
Resistance is  661 1/2   to 663 3/4

A  close over 661 1/2  is Bullish for the season..

May Soybean Meal
Cancel all remaining orders
Support is 175.7 and 174   Resistance is near and 177.5 and 182.

May Soybean Oil
Support is at  2617 and 2607  Resistance is near  2661 and 2691
Cancel all remaining orders

May Corn Recommended Position Long at 271
Support is at  274 and 273 1/4   Resistance is near  278 1/2
Traders should Add or go long on a close over 276.

May Wheat
Support is near  332 1/4  Resistance is near  338 , a close over 332 keeps the posture  positive a close over 338 augers for a test of 344

July Wheat  Long (2) at  342
Support is at 341 3/4 Resistance is near 347 a close over augurs for a ‘pop’ to 353
 
 

                               The Satisfying Softs

May  Cotton
Support is  6747 under that 6695
Resistance is  6845 and  6890

May Sugar
Nearby support is 968 and 939
Resistance is near 975 and 1014
 
May Coffee Recommended Position Long at 156.90
On the Downside, Good Support is at  147.20 should hold If the Coffee Cools off and trades down to 141.70 Traders should go long and  hold.
On the Upside, Early resistance is near 151.15 and  152.05 and 152.20

Pick Your Poison and Keep a Steel 'Cup’ handy.
 
May Cocoa
Resistance is 1607 Beyond that  1630  offer's resistance   Support is near  1585 then 1570.
 

                        The Lively Livestock

April Live Cattle
Support is 6470 under that  support should appear  near  6457  with  6395 under that.
Resistance is near at 6545

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 4890 then 4990 to 5002 Support is near 4790  and  4737
 
The close over 4835  was friendly , trader should exit 2/3 of the long  April Hogs
at 4972  MIT if given the chance ..today only.

June Hogs  Recommended Position Long at 5642
Support is near 5672 and 5687 day traders can buy at for a turn higher , risk only 35 pts.
The close over 5712 augurs  for a test of  5762 then 5827.

Recommended Spread Position long   2 June  Short 2 Oct. at 290 over . Hold

March Bellies Recommended Position Long at 4612
Hold

May Bellies
Support is near 4262  and 4167. Resistance is near  4357 and 4370.
Traders should go long  on a close over 4435 looking for a test of 4772.

'From the Frying Pan into the Fire'
 

             The Sensational Stock and Bond Markets
 

June  30 Yr. Bonds
Support is 118-12 and 118-05 with 117-28 beyond that  117-07 and 116-28
Resistance is near to 118-28 and 118-30 with  More resistance is 119-07 and 119-28 to 120-09.

A close over 118-30 id friendly a close under 117-28 is bad.

March SP500  Recommended positions Short at 1023 and 1035.80

On the Downside, Support is at 1036 and 1032 . The close  under 1042.20 was negative  and indicates a test of 1026.30 to 1022.60 which is critical and should hold. If not 1013.60 is likely.

Traders should cover 1/2 of the shorts at 1013.60 if able.

On the Upside, Early resistance is at 1042.40 where  day traders can sell and your own risk on it. Beyond that 1044.60 and 1046.10 to 1047 offer resistance as does 1054
 
The Dow Jones Industrial Average
Initial support at  8439 and is critical basis the close. Beneath  that 8396 should hold  if upside momentum is going to continue. Some support should appear at 8369 and 8314
Resistance is near  8484 and 8499 beyond that  8510 to 8530  should cap the rally. If not a test of 8560 is likely
 

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

Happy Trading

Bill

Thur  March 5th 1998
11:58  PM

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