FuturesCom Investment Publications
Morning Comments 3-08-1999
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Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Sunday March 7, 1999

9:47 AM

On the Frenzied Forex Front

June Japanese-Yen

Support is at 8261 to 8254 and the 8223 to 8194 region which should contain a

Decline in the near term.

Resistance is at 8285 to 8291 and 8300 to 8314.. above that sellers should appear near 8354.

A close over 8300 is friendly and augurs for a test of the 8391 to 8406 region...

June D-Mark

Support should is at 5554 Below that Buyers should appear near 5513 to

5504/ 5491. Resistance is at 5580 and 5604.. a close over 5580 augurs for a test of the 5640 to 5653 region.

June Swiss

Support is at 6857 then 6839 and 6809. Day traders can buy at 6809 for a bounce, risk 30 pts. Below that support is at 6755.

Resistance is at 6887 and the 6906 to 6919 region. Beyond that a test of 6939 is likely. A close over 6887 is friendly ...

June British Pound

Support is near 1.6014 below that 1.5938 should hold..

Resistance is at 1.6090 and 1.6150 then 1.6238..

June Canadian Dollar

Nearby support should appear at 6561 and 6544 then 6529...below that

BW Traders can buy at 6482 for a turn higher risk a close under 6430.

Resistance is at 6591 to 6594 beyond that Resistance is at 6620 and 6677

BW Traders should sell at 6677 for a turn lower, risk a close over 6715 for two days in a row.

Precious Metals

April Gold

Support is at 288.2 and 287 to 285 BW traders can buy at 285 and hold for higher prices.. Below that support is at 282

Resistance is at 290.8 and 292.8 then 296.5 Beyond that resistance is at 304.

BW Traders should go long if a close over 292.8 occurs.

May Copper

Support is at 6275 and 6225 below that buyers should surface near 6165

Resistance is at 6420 and 6485.. A close over 6420 is friendly and augurs for an eventual test of 6615.

April Platinum

Support is at 374.0 and 370. Below that support is at 362.

Resistance is at 379.5 to 380.5 and 383.

A close over 381 indicates a test of 389.

May Silver

On the DownSide: Support is at 513.5 and 510.5 to 509.

On the Upside. Resistance is at 520.5 to 522.5. Beyond that sellers should appear near 530 to 531.5.

A close over 522.5 is friendly and augurs for a test of 546 if it holds...

The Exciting Energies

April Crude

Nearby Support is at 1327 and 1321 to 1317. Below that 1304 to 1296 should hold.

Day traders can buy at 1296 for a bounce, risk 45 pts.. Below that 1274 to 1264 offers support.

Resistance should appear near 1346 and 1367 beyond that sellers should appear near 1377 to 1383 Hearty Day traders can sell at 1377 for a turn lower, risk only 20 pts.. Trade Accordingly

April Unleaded Gas

Support is at 4123 and 4072. Below that buyers should be evident at 3992 to 3964

Day traders can buy at 3992, risk 100 pts...

Resistance is at 4163 and 4238 then 4305 to 4315. Beyond that Day traders can sell at 4370 and risk 80 pts..

April Heating Oil

Support is at 3469 a close under augurs for a test of 3310

Resistance is at 3495 to 3515 beyond that 3640 offers resistance. Day traders can sell at 3665, risk 100 pts.

 

The Grande Grains

May Soybeans

Support is at 461 to 460.5 below that

Nearby Resistance is at 468 1/4 and 474 1/2/ 475.. A close over 469 is near term friendly..

July Soybean Meal

Support is at 130.4. and 128.5 Day traders can buy at 130.5, risk $ 4.00 below that 123.5 should hold

Resistance is at 133.6 to 134.5 and 135.5 beyond that a test of 137.5 is likely.

July Soybean Oil

Support is at 1767 and 1747 then 1726

Resistance is at 1813, a close over 1813 is friendly and augurs for a test of 1867

May Corn

Support is at 215 and 212 then 209 1/2

Resistance is at 217 and 219 then 222.

BW Traders can go short at 222 for a quick turn lower, risk a close over 227 1/2 for two days in a row.

July Wheat

Support is at 276 1/2 and 272 3/4 below that 268 3/4 should hold...

Resistance is at 278 3/4 and 281 1/2. A close over 278 3/4 is friendly and augurs for a test of the 285 to 288 region.. Trade accordingly.

The Satisfying Softs

May Cotton

Resistance is at 6280 and 6301 beyond resistance is at 6400 and 6565 to 6590.

Support is at 6254 and 6200 to 6165. Day traders can buy at 6200 for a quick bounce..stay tuned,,,Under that buyers should appear near 6101 to 6080.

May Sugar

Support is at 562 to 559 and 544 to 538.

Resistance is at 578 and 582 to 586. A close over 586 is friendly and augurs for a test of 618..

May Coffee

On the DownSide, support is at 106.80 under that 105.80 to 105.60 offers support . Day traders can buy at 105.80 and hold for higher prices.. Put your own risk on and

stay tuned. below that 104. and 103.10 should hold

On the Upside, Resistance is at 107.70 and 108.10...An extended trade over 108.10 is friendly and indicates a test of the 109.60 to 110.10 region and 110.60.

May Cocoa

Nearby Support is at 1221 then 1212 and 1202 to 1192.

Resistance is at 1232 to 1238 and 1262.

 

The Lively Livestock

April Cattle

Support is at 6757 to 6742 a clip under augurs for a test of 6712 and 6677...Below that 6637 should hold..

Resistance is at 6787 and 6822 then 6862 and 6907 to 6917.

April Hogs

Resistance is at 4287 and 4327 to 4342 above that good sellers should appear near 4417 and 4442.

Support is at 4242 and 4217 . Under that 4142 to 4112 should hold. BW Traders can buy at 4112 and hold for higher prices.

.

From the Frying Pan into the Fire--

May Bellies

Support is at 5202 and 5122 below that 5082 to 5052 should hold...Day traders can buy at 5052 and hold for higher prices... Below that 4947 should contain a decline and bring out good buyers.

Resistance is at 5212 and 5257 to 5282. Beyond that a test of 5352 and 5412 is likely.. Stay Tuned for Flashes..

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 119-25 and 119-07 to 119-04 then 118-25 and 118-27.. BW traders can buy at 119-04 for a turn higher, risk a close under at 118-19 for two days in a row. Below that support is at 117-24.

On the Upside: Resistance is at 120-17 above that sellers should appear near 120-25 Beyond that resistance is at 121-25.

March SP500

On the DownSide

Support is at 1274 and 1271.40 / 1271 under that 1268 to 1264 offers support .

A close under 1271 is negative and augurs for a test of 1253.

On the Upside, Resistance is at 1279.30 and 1289 to 1293 beyond that, 1303.40 to 1304 and the 1307 to 1309 region offers good resistance and should cap the rally.

June SP 500
Support
is at 1290.15 to 1289.80/ 1289 , a slip or close under 1289 augurs for a test of the 1285.80 /1284.00 region. Below that buyers should appear near 1274 to 1268.

Resistance is at 1301.80 and 1304. BW Traders Who have Ice Water running through their veins can sell at 1304 and hold for lower prices.

A close under 1290 is negative.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 9707 and 9668 under that buyers should appear near 9641 to 9625

Below that 9542 to 9526 offers support.

A close under 9668 is negative..

Resistance is near 9737 to 9379 . Above that 9821 to 9837 should Cap a Rally for a bit. Beyond that resistance is at 9921 to 9937.

A ship in Harbor is Safe.. But that's not what ships are built for.

3-7-99 12:00 PM

Happy Trading

Bill

B W Recommended Open Pos.

Long April gold at 288.3

Long July Bean Oil at 2098 and 2043
Long May sugar at 656

Long May beans at 493 and 471 1/2

Long May Copper 6335

Short April Cattle at 6802

Long May Cocoa at 1268

Short June C$ at 6569

Long May Silver at 561.5 and 535
Long April Platinum at 380.10
Long June Yen at 8407 and 8224

Long June Swiss at 6957
Short March SP500 at 1253

Short June SP500 at 1283

long May Coffee at 107.00

MC Recommended Open Pos.

Long May Sugar at 586

 

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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.