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.

Thur May 07, 1998

5:45 AM

They say there are two sides to everything. But there is only one side to the stock market and it is not the bull side or the bear side, but the right side.
--Reminiscences of a Stock Operator.-

June J-Yen

June Yen should find early support at 7538 and 7512 then 7486. Traders can buy for a position at 7491. Risk a close Under 7487 for three days in a row. Below that support is near 7414 and 7342. Go long for a go long for a good 2-3 day bounce at 7342. Risk a close under 7328 for two days in a row. Resistance should appear at 7601 to 7605 . above that 7612 then and 7675. Beyond that Traders can sell at 7688 for quick turn lower. Risk 20 pts. Beyond that 7719 to 7727 and 7777 offer resistance. Beyond that 7819 should trade. A close over 7836 augurs for a test of 7938. Traders should go short at 7936, risk a close over 7954 for three days in a row.

June Swiss

Support should appear at 6836 then 6821. Below that 6809 and 6791. Beneath that support should appear at 6741 and 6684. Resistance is at 6891 and 6906 to 6919

Traders should Sell short at 6906, and risk a close over 6919 for three days in a row.

Trade Accordingly

June British Pound: Recommended Position Long at 1.6720

Support is at 1.6550. Below that 164.20 offers support. Go long at 1.6420 risk a close under 1.6378. Below that 1.6150 to 1.6090 should hold. Resistance is at 165.88 then 1.6658 to 1.6678 and 1.6720. A close over 1.6720 augurs for a test of 1.6890 and 1.6960.

Traders should go long, add on a close over 167.20.

June D-Mark.

Early support is at 5660/5655 and 5648. A close under 5655 augurs for a test of 5587 to 5577. Buy at 5577, risk a close under 5552, Below that 5505 to 5492 offers support. A failure there indicates a test of 5461 and 5430 buy at 5431 for the ‘pull,' risk a close under 5386. Resistance is at 5690 traders should sell short for a turn lower at 5692. Risk a close over 5729 for two days in a row. More Resistance is near 5740 and 5748.

Trade Accordingly

June Canadian Dollar Recommended Position Long at 6997

Support is at 6955.. Below that 6933 and 6905 should hold. Resistance should appear at 6990 A close over 6995 augurs for a test of 7026. Beyond that resistance is near 7045 and 7074 to 7088.

A close over 6995 is friendly, traders should consider adding or going long if it occurs.

June Gold Recommended Position long at 315.80

Good Support is near 298. Below that traders should have buy orders waiting at 294.50 for a turn higher, risk a close under 288 for three days in a row. Nearby Resistance is at 302.5 and 305. Beyond that 312 offers resistance.

July Copper: Recommended Position Long at 8565

Support is at 8135, buy there risk a close under 8110 for two days in a row. Under that 7965 should hold . Resistance is at 8265 and 8365.

July Platinum Recommended Position Long at 394.

Early Support is near 392.5 and 387, failure there augurs for a slip to additional support near 383.5, buy at 383, risk a close under 380 for two days in a row on all positions.

Nearby Resistance is at 396 and 405 to 407. A close over 396 indicates a rally towards 405.

Long Term Friendly , Buy this Dip

July Silver Recommended Position Long 2 at 624 and 600.5

On the Downside: Support is at 585 and should be considered a buying opportunity. Below that 565 should hold. On the Upside resistance is at 594.5 and 604 then 606 . A close over 606 indicates a rally to 637. Beyond that 657.

Traders should or assume a long position (or add) if a close over 635 occurs.

Be Long

June Crude Recommended Position Long at 1525

Support is at the 1520 to 1502 region and it should hold. Resistance is at 1545 to 1552. A close 1552 over augurs for a test of critical resistance at 1570. Beyond that

1609 offers resistance.

Friendly near term.

June Unleaded Gas Recommended Position Long at 5345 and 5245

Nearby Support is at 5190 and 5140. Below that support is at 5050. If June Unleaded declines to 4857, consider it a buying opportunity and go long for the Pull.

Early resistance is near 5265. Beyond that resistance is near 5315 and 5457.

June Heating Oil

Resistance near 4395 beyond that 4445. A close over 4395 augurs for a test of 4615. A close over 4620 augurs for a test of 4890. Traders can go short at 4915, risk a close over 4930 for two days in a row. Support is at 4245 Under that support should surface near the 4170 to 4160 region.

*Traders should go long using a 4620 stop close only.

I hope a Free Trial to FuturesCom Service will prove to be a useful and Valuable addition to your analysis of the markets. You can Join FuturesCom Now for Three Months, Only $200.00. 
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I have been in the business for over 19 years, traded on the floor of the CME , worked on the CBOT , operated an Arb in Forex , SP500, Gold & Silver. I spent 5 Years in an Office located in  the Meat Packing District( Fulton Market) of Chicago. The president of First American Discount Futures was my phone clerk on the CME/ IMM (I trained him out of college).. and so on.   You can spend a lifetime obtaining the knowledge I can pass on to you .
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July Soybeans Recommended Position long 2 at 663, 1 at 640 and 1 at 639

Early Support is at 653 1/2 and 651. Day traders can buy at 653 1/2 for a bounce. Risk 3 cents. Under that 646 1/2 offers support . Resistance is 658 3/4 and 660 a close over 660 augurs for a test 667. Beyond that 672 /674 offers resistance

Long Term Friendly

August Beans Recommended Position Long at 632 Hold

Spread Long August Short Nov at 24 cents over Hold

July Soybean Meal Recommended Position long 2 at 160.10.

Support is 161.50 under that 158 should contain a break. Resistance is at 165.7 and 166.30

July Soybean Oil

Early support is at 2876 and 2874. Traders should buy at 2874 for a bounce higher. Risk a close under 2857 for two days in a row. Below that support is 2829 to 2820.

Resistance is near 2928 to 2937, beyond that 2968 offers resistance, traders can sell at 2972 for a turn lower, Risk a close over 2990 for two days in a row

July Corn

Support is should appear near 259 3/4 and 256 3/4, below that 254 3/4.Resistance is near 2643/4 and 266 1/2. Beyond that 269 1/2.

July Wheat Recommended Position Long at 342 and 310

Support begins near the 312 3/4 day traders can buy there and risk 3 cents. Below that 306 3/4 offers Support. More Support should appear near 301 3/4 to 300. Resistance is near 318 3/4 and 324 3/4. Beyond that 330.

July Cotton Recommended Position Long at 6465

Support is 6535 and 6525 below that support should appear near 6470. Resistance is at 6575. A close over 6575 augurs for a rally to 6770.

July Sugar

Support is 882 and 877. Below that 852 should hold.

Resistance is near 907 to 912 and 917 to 922 beyond that a test of 932 to 941 then 959 is likely. Traders can sell short at 968 for a turn lower , risk a close over 972 for two days in a row.

July ‘the Monster’ Coffee Recommended Position Long at 143.60

On the DownSide, Early support is at 125.60 under that 124.10 to 123.80 /123.20 offers support. Under that 120.30 and 119.20 offer support. Buy at 119.30 and Hold.

On the Upside, Resistance is 127.55 and 128.10 to 128.75. A close over 127.55 augurs for a test of 130.50 beyond that 132.95 offers resistance.

Trade Accordingly and Keep a Steel 'Cup’ handy.

July Cocoa

Resistance is at 1732/ 1737 and 1740 Early Support is 1707, buy there for a day trade bounce... below that 1696 and 1689 offers support.

The Lively Livestock

June Cattle Recommended position Long at 6937 and 6867

Support is near 6832 to 6807. More support is 6732. Resistance is at 6860 and 6880, a close over 6882 augurs for a test of 6957.

Traders should add /go long on a close over 6957.

Long Term Friendly, Buy Dips.

June Hogs

Support is at 6092 and 6067. Below that 6012 to 5992 should hold. Traders can buy at 6067, risk a close under 5957 for two days in a row. Resistance is near 6142 and 6187 Beyond that 6212 offers resistance. Beyond that 6247.

Trade Accordingly.

July Pork Bellies Recommended Position Long at 5670

On the DownSide Early support is near 5677, day traders can buy at 5657 for a bounce. Below that support should appear at 5527. Traders should buy at 5507 and hold. On the Upside Resistance is near 5782 and 5872 to 5855. An extended trade or close over 5827 augurs for a test of 5967 and 6082.

Trade Accordingly.

June 30 Yr. Bonds Recommended Position Short at 119-30

Early Support is 120-11 and 120-04. A close under 120-04 is negative for a pull back towards 119-11. Below that support should appear near the 118-03 region. Below that support is near 117-24 Where traders can buy for a bounce, risk 20 pts. Resistance is at 120-24 where hearty day traders can sell. More resistance is near 121-11. Above that resistance should appear at 121-18 then 122-04.. Traders should sell at 122-08 for a turn lower, risk a close over 122-18 for two days in a row.

June SP500 Recommended Position Short at 1119.90

On the DownSide, Support is at 1105.90 and 1103.90 this region is critical Below that A close under the 1105.90/1103.90 region indicates a slip towards 1101. A close under 1101 augurs for a slip to 1096.00 and 1089.50.

On the Upside, Resistance is at 1115.50 and 1122.10 . Above that 1130/1133 and 1136 to 1136.60 and 1137.60 offer resistance.

The Dow Jones Industrial Average

Initial support is 9052 and 9044, a slip under 9044 augurs for a pullback towards the 9004 region. A close under 9004 augurs for a test of 8993 to 8989 then 8964 to 8934. Below that 8856 offers support. If that fails a slip to 8798 or lower is likely. Resistance is at 9060 and 9119 , beyond that 9140 to 9156. Above that 9194 and 9236 to 9250.

At this current time I am considering some new longer term positions . If you wish to discuss these trades or need more information please call me at 1-561-433-8389, or E-Mail a reply. In any event don't delay your FREE TRIAL will END and this year should be an exciting one !   click here to pay through my Secured Credit Card Server! or have your card ready and call 1-561-433-8389 Today OR Make your check payable to :   William Chippas 5845 Autumn Ridge Rd.
Lake Worth, Florida 33463   A ship in Harbor is Safe.. But that's not what ships are built for.

Happy Trading

Bill

Thur May 07, 1998
7:04 AM

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