FuturesCom Investment Publications
Morning Comments
(MC) April 19, 1999
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"Among the hazards
of speculation the happening of the unexpected -I might even say the
unexpectable - ranks high. There are certain chances that the most prudent man
is justified in taking - chances that he must take if he wishes to be more than
a mercantile mollusk--"Reminiscences of a Stock
operator.
Monday April 19, 1999
4:00 AM
On the Frenzied Forex Front
June Japanese-Yen
Nearby Support is at 8499 to 8484 and 8469, Day traders should buy at 8469 for a turn higher, risk 40 pts. Under that support is at 8406 to 8391. Below that 8352 should hold. Resistance is at 8551 then 8560 to 8589, a close over 8589 augurs for a test of 8650 to 8668.
June D-Mark
Support
is at 5453 Below that support is at 5430 to 5418 where BW traders can buy at 5425 for a bounce, risk a close under 5418. Below that 5356 to 5344 should contain a decline in the near future..
Resistance is at 5485 to 5493 then 5504. Day Traders can sell at 5493 for a turn lower.. Risk 20 pts. .. A close over 5505 is friendly and augurs for an eventual test of 5553
BW Traders should go long if a close over 5577 occurs.
June Swiss
Support
is at 6655 then 6631Resistance is at 6707 and the 6725 to 6741 region. Beyond that 6755 should Cap a rally today, Day Traders can sell at 6755 for a turn lower ...
June British Pound
Support
is near 1.6090 and 1.6046 then 1.5936Resistance is at 1.6150 and 1.6206.
June Canadian Dollar
Support
is at 6755 and 6741. A close under 6748 is negative.Resistance should appear at 6788 and 6809 to 6836.
Stay tuned for Forex flashes
Precious Metals
Aug. Gold
Support
is at 286.90 and 285.50, below that 283.30 should hold.Resistance is at 288.3, a close over is friendly and indicates a likely test of 292.8
Trade accordingly
May Copper
Support
is at 6870 then 683 to 6810, day traders can buy at 6870 for a turn higher,under that support is at 6755 to 6740 and 6720.
Resistance is at 6925 and 6990 to 7015 then 7125 and 7205.
July Platinum
Support
is at 362 and 359 under that 353 should hold.Resistance is at 365.5 and 367.
Hold.
May Silver
On the DownSide
: Support is at 503.5 and 500.5. Under that support is at 491.5.On the Upside. Resistance is at 507.5 a close over 507.5 is friendly and indicates a test of 516.5 and beyond.
The Exciting Energies
June
CrudeNearby Support
is at 1721 day traders can buy at 1722 below that support is at 1705 to 1696 and 1689 under that 1655 to 1642 should hold...Nearby Resistance is at 1738 and 1746. Above that 1755 offers resistance region.
A close over 1738 is friendly and indicates a test of 1774 to 1780 and 1797..
June Unleaded Gas
Nearby Support
is at 5306 and 5282 to 5255 day traders can buy at 5255 and hold for higher prices. Under that support is at 5155.Resistance is at 5345 to 5356 and 5418 and 5505.
June Heating Oil
Support
is at 4295. Below that support is at 4265 Under that Buyers should appear at 4120 to 4110 and 4070 which should contain a decline.Resistance is at 4445 then 4485. A close over 4485 is friendly and augurs for a test of 4580.
The Grand Grains
July Soybeans
Support
is at 492 1\2 to `489 1/2 and 481. Day traders can buy at 489 3/4,risk 10 cents.
Resistance is at 499 and 503 1/4 beyond that sellers should appear near 507 to 509
July Soybean Meal
Support
is at 134.60 to 133.3 below that 130.5 to 128 should hold.Resistance is at 136.6 to 138.0.
July Soybean Oil
Support
is at 1946 to 1939 and 1909 to 1902.Resistance is at 1965 and 1988 to 1996 then 2025 to 2034.
July Corn
Support
is at 222 to 220Resistance is at 228 and 230
July Wheat
Support
is at 263 1/2 to 260.Resistance is at 267 3/4 and 269 3/4
The Satisfying Softs
May Cotton
On the Upside resistance
is at 5815 and 5855 to 5880On the DownSide support is at 5755 and 5695 to 5655 and 5600..
July Sugar
Support
is at 479 and 471 to 468Resistance is at 487 and 490 to 493 then 497
May Coffee
On the DownSide,
support is at 9935 to 9880 and 9790 to 9735, under that support is at 96.35.On the Upside, Resistance is at 100.00 and 101.30. A close over 100.50 augurs for a test of 101.90 and eventually 103.20 to 103.60
BW Traders should go long if a close over 100.50 occurs.
July Cocoa
Support
is at 1078 to 1068Resistance is at 1101 to 1105 and 1128.
The Lively Livestock
June Cattle
Support
is at 6312 then 6287 and 6212.Resistance
is at 6362 to 6372 and 6437 top 6447.June Hogs
Support
should appear near 5422 and 5377 to 5352 then 5277Day traders can buy at 5377 and hold for higher prices.
Resistance is at 5472 then 5522 to 5547 and 5572.
From the Frying Pan into the Fire--
May Bellies
Support is at 5507 then 5452 and 5327
Nearby Resistance is at 5602 and 5657 then 5752 to 5807 offers resistance
Stay Tuned for Flashes the Pork Complex.
The Sensational Stock and Bond Markets
June Bonds
On The DownSide nearby support is at 121-03 where BW traders can buy at 121-03 for a turn higher, risk a close under 120-27 for three days in a row. Under that support is at 120-14 to 120-11
On the Upside: Resistance is at 121-21 and 122-11 to 122-14.
June SP 500
Support is at 1322 to 1321.70 a close under 1322 augurs
for a test of
1310 and 1307 to 1305.80 and 1304.
Resistance should appear near the 1334 then 1337.70 and 1339.00 to 1340.
Beyond that 1346 and 1353.60 offer resistance. Above that resistance is near the 1361.50 region.
Stay tuned for Flashes
Dow Jones Industrial Avg.
Resistance is near 10510 and the 10,580 region. Beyond that sellers should appear near 10,680 to 10,706 region which should cap a rally.
A ship in Harbor is Safe.. But that's not what ships are built for.
Happy Trading
Bill
April 19 1999
5:02 AM
B W Recommended Open Pos.
Long June Swiss at 6782
Long May Copper at 6555
Long July Silver 489.5
and 503.5
Long May Silver at 504
Long Aug. Gold 283.90
Long 2 July
Platinum at 363
Long May Cotton at 6065 and 5965
Long June hogs 5442
Long June Cattle at 6477 and 6422
Long July Wheat at 295 3/4 and 304
Long July Beans at 480
Long May Corn 227 1/2
Long May Coffee at 105.10
Long 2 July Sugar at 517
Long July Cocoa at 1129
Long June D-marks at 5492
Long June Unleaded
Gas at 5320
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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.