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Morning Comments (MC) Aug. 13 1999

Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs

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What the Wise do in the Beginning, Fools do in the End."
Warren Buffett

Friday, August 13, 1999

5:58 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8733 and 8725, below that another test of 8683 to 8668 is likely..

Nearby Resistance is at 8762 to 8777 beyond that sellers should appear near 8817.

Sept. D-Mark

Nearby Support should appear at

5430 to 5418 region. A close under 5418 is negative and augurs for a test of 5356 to 5344 and eventually the 5282 to 5256 region

Resistance is at 5492 to 5504 above that sellers should appear near 5526, day traders can sell at 5526 beyond that resistance is at 5553. BW Traders can sell at 5553 and hold for lower prices, risk a close over 5577 for three days in a row..

BW Traders should go short if a close under 5459 occurs.

Sept. Swiss

Nearby Support is at 6673 and 6659 a close under 6659 is negative and augurs for a test of 6618 and eventually Below that 6591 to 6577 offers support...BW Traders can buy at 6591 for a bounce, risk a close under 6577 for two days in a row..

Resistance is at 6707 and 6721 beyond that sellers should appear near 6741 and 6755

Day traders can sell at 6721 and hold for lower prices...

Sept. British Pound

Support should appear near 1.6090 and 1.6026 below that buyers should appear near 1.5986 and 1.5886. BW Traders can buy at 1.5886 and risk a close under 1.5760 for two days in a row.

Resistance is at 1.6150 and 1.6202 then 1.6286. BW Traders can sell at 1.6286 for a turn lower and risk a close over 1.6420 for two days in a row....

Sept. Canadian Dollar

Support should appear near 6741 and 6707

Resistance is at 6755 and 6773 then 6809.

Stay tuned for Forex flashes.

Precious Metals

Dec. Gold

Nearby Support is at 262 to 261.2. day traders can buy at 261.6 and risk $ 1.50 Below that support is at 257.8.

Resistance is at 264.2 and 266.3 then 267.8.

Sept. Copper

Nearby Support is at 7635 , day traders can buy at 7635 and risk 80 pts. Under that good support should appear near the 7515 and 7435 to 7390.

Nearby Resistance is at 7790 and 7835 beyond that sellers should appear near 7950 and 8030.

Trade Accordingly and stay tuned.

Oct. Platinum

Support is at 350. Below that buyers should appear near 345 to 343.5.

Resistance is at 353.5 and 359 and 363.5.

Sept. Silver

On the DownSide support is at 534 to 532 and 528 below that good buyers should appear near 515.

Resistance is at 542 and 545 a close over 545 is friendly and augurs for a test of 552 .

Trade Accordingly and Stay tuned for Flashes...

The Exciting Energies

Sept. Crude

Nearby Support is at 2142 and 2134 under that support is at 2088 to 2080

Resistance is at 2170 and 2185. Beyond that 2219 to 2226 should cap the rally for a bit. BW Traders can sell at 2219, risk a close over 2267 for two days in a row.

Sept. Unleaded Gas

Nearby Support is at 6430 to 6417 Under that good buyers should appear near 6390 and the 6350 to 6337 region.

Resistance should appear near the 6538 and 6590 beyond that 6659 to 6673 should cap a rally.

Sept. Heating Oil

Nearby Support is at 5510 and 5492 under that support is at 5430 to 5417 and

the 5356 to 5344 region.

Resistance is at 5590 to 5610 and 5642 then 5716 to 5725 Day traders can sell at 5717 and risk 100 pts.

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 461 and 464 , a close over 464 is friendly and augurs for a

test of 478.

Support is at 450 and 437 Day traders can buy at 437 and hold for higher prices..

Dec. Soybean Meal

Resistance is at 139.3 and 143 then 145 to 147.

Support is near 135 and 131 under that 129 should contain the decline

Dec. SoyBean Oil

Resistance is at 1689 o 1696 and 1705.

Support is at 1633 and 1615 to 1609 Under that 1576 to 1569 should hold. .

Dec. Corn

Resistance is at 227 and 232.

Support is at 222 1/2 and 217

Sept. Wheat

Support is at 260 3/4 to 259 3/4 below that buyers should appear near 255 and 252 4.

Resistance is at 2641/2 to 266 3/4 beyond that sellers should appear near 272..

The Satisfying Softs

Dec. Cotton

On the DownSide support should appear near 5390 to 5370, day traders can buy at 05390 and risk 50 pts. Below that 5356 to 5344 offers support as does 5290

Resistance is at 5430 and 5462 then 5492 to 5504. A close over 5504 is friendly and ?
indicates a test of 5570 to 5590.

Oct. Sugar

Nearby Support is at 586 to 580. Below that 565 should hold..

Resistance should appear at 601 to 609 and 620.

Sept. Coffee

On the Upside, Resistance is at 9425 to 9445 and 9545. Above that resistance should appear near the 9750

On the DownSide, support is at 9345 and 9295 under that support is at 9250 and 9060 t0 9045 / 9025.

Sept. Cocoa

Support is at 941 to 932 under that buyers should appear near 925 and

the 912 to 907 region

Resistance is at 968 to 975 a close over 975 is friendly and augurs for a test of 994 and the 1000 to 1005 region.

The Lively Livestock

Oct. Cattle

Support is at 6492 and 6472 under that support is at 6412 and 6397.

Resistance is at 6547 to 6567 and 6617 to 6622 BW traders can sell at 6622 for a turn lower, risk a close over 6707 for two days in a row. Beyond that sellers should appear near 6647

Oct. Hogs
Support is at 4467. Below that support should appear near the 4447 to 4427 region Below that buyers should appear near 4397.

Resistance is at should appear near 4497 and 4537 then 4597 Beyond that sellers should appear near 4662.

Stay Tuned for Belly and Hog Flashes.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide nearby support is 113-15 to 113-12 and 113-08 below that support is at 112-30 and 112-15.

On the Upside Nearby Resistance is at 113-25 and 114-05 beyond that sellers should appear near 114-15.

Trade Accordingly.

Sept. SP 500

On the DownSide Nearby Support is at 1298.00 below that support is at 1294.60 and 1289 Below that 1277 and 1274 Under that 1268 should contain a decline..

Nearby Resistance is at 1304 and 1307,l beyond that resistance is at 1309.00 to 1310. A close over 1310 is friendly and augurs for a test of 1322. Beyond that good a test of 1334 is likely.

* BW Traders should go long if a close over 1310 occurs

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,793 and 10,747 under that support should appear near 10,680 and 10,649 to 10,630 and the 10,580 region. Below that support is at 10,475 to 10,464 and the 10,360 to 10,320 region.

Resistance should appear near 10,820 beyond that resistance is at 10,845 and 10,867 Beyond that a test of 10,960 to 11,010 is likely.

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

Happy Trading

Bill

Aug. 13 1999
6:41 AM

BW recommended Open Pos.

Long Sept. Bonds at 116-09

Long Sept. SP500 at 1399.

Long Sept. Silver at 543.5

Long Sept. Wheat at 282 3/4

Long Dec. Cotton at 5301

Long 2 Oct. sugar at 599 avg.
Short Sept. Swiss at 6679

MC recommended Open Pos.

NONE

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.

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