FuturesCom

FuturesCom Investment Publications

Dedicated to Excellence in Analysis of Futures Markets
Morning Comments (MC) Thur , August 19, 1999

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

Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and More

Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988

5845 Autumn Ridge Rd Lake Worth Florida 33463 Voice 561-433-2995 Fax 561-433-9243 http://www.futurescom.com

Thur August 19, 1999
6:00 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8960 then 8939 Below that support is at 8871 to 8864.

Nearby Resistance is at 9018 and 9045 to 9060

Sept. D-Mark

Nearby Support should appear at 5387 and 5356 to 5344 a close under 5344 augurs for a test of the 5282 to 5256 region and 5211 to 5200..

Resistance is at 5418 and 5430 then 5492 to 5504

Trade accordingly

Sept. Swiss

Nearby Support is at 6577 If it fails there a test of 6543 and the 6509 to 6482 region is likely... Below that 6430 to 6417 should hold . BW Traders can buy at 6430 for a bounce , risk a close under 6417 for two days in a row.

Nearby Resistance is at 6628 and 6659 to 6673, BW Traders can sell at 6659 risk a close over 6673 for three days in a row. Beyond that sellers should appear near 6741 to 6755 and cap a rally..

Sept. British Pound

Support should appear near 1.5938 BW Traders can buy at 1.5938 and risk a close under 1.5886 for two days in a row.

Resistance is at 1.6090 a close over 1.6090 is friendly and augurs for a test of 1..6150 and 1.6226 Beyond that is at resistance 1.6286

BW Traders should go long if a close over 1.6090 occurs... .

Sept. Canadian Dollar

Support should appear at 6707 and contain the decline A close under 6707 augurs for a test of 6673 to 6659.. Aggressive BW traders can buy a dip to 6673 and risk close under 6659 for three days in a row.

Resistance is at 6741 and 6755 then 6773

BW Traders should go long if a close over 6809 occurs..

Stay tuned for FuturesCom's Forex flashes

Precious Metals

Dec. Gold

Nearby Support is at 261.2 Below that support is at 259 and 2556.80 to 255.2 which should hold..

Resistance is at 264.4 and 267.20 beyond that sellers should appear near 268.50 to 269 and 272.40 beyond that sellers should appear near 275.80 to 277.50 and cap a rally

BW Traders should go long / add if a close over 267.20 occurs we see a test of 271.60 to 272.40

Buy Dips

Dec. Copper

Nearby Support is at 7510 to 7490. BW Traders should guy at 7515 and hold risk a close under 7485 for three days in a row.. Below that support is at 7415 and 7335

Nearby Resistance is at 7635 and 7770 then 7895 and 7940 to 7955

BW Traders should go long if a close over 7955 occurs.

Oct. Platinum

Support is at 350 and 345.5 Under that support is at 337..

Resistance is at 355.5 and the 359 region is likely Above that resistance should appear near the 362.3 region A close over 362.30 is friendly ..and augurs for a test of 366.30 to 368.20

BW Traders should go long if a close over 362.30 occurs..

Dec. Silver

On the DownSide nearby support is at 523.to 521 . Below that .support is at 507 to 505. BW Traders can buy at 505 for a bounce. Risk a close under 491 for two days in a row.

On the Upside. Nearby resistance is at 533 and 541 to 543

BW Traders should go long if a close over 543 occurs .

Trade Accordingly and Stay tuned for Flashes...

The Exciting Energies

Oct. Crude

Nearby Support is at 2167 then 2126 and the 2088 to 2080 region. BW Traders can buy at 2088 and risk a close under 2080 for three days in a row , below that support is at 2049 and the 2042 to 2034 region..

Trade accordingly

Resistance is at 2197 Beyond that a test of 2219 to 2226 and the 2267 to 2275 region is likely. BW Traders can sell at 2267 for a turn lower , risk a close over 2275 for two days in a row. Above that 2315 to 2322 offers resistance.

Oct. Unleaded Gas

Nearby Support is at 6259 and 6145 then 6025 and 5957 to 5945

Resistance should appear at 6337 to 6350 and 6418 to 6430

Oct. Heating Oil

Nearby Support is at 5630 then 5553 and 5504 then 5430 to 5418 region. BW Traders can buy at 5430 , risk a close under 5418.

Resistance is at 5792 / 5805 and the 5830 to 5855 region. Traders can sell at 5830 , risk a close over 5880 for two days in a row.. Beyond that sellers should appear near the 6023 to 6035 region aggressive traders can sell at 6023 and hold for lower prices

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 479 and 484 1/2 to 487 However a close 485 3/4 is friendly and augurs for a test of 495 and eventually 508 3/4 then 512 1/2 to 514..

Support is at 465 and the 459 to 457 region..

Dec. Soybean Meal

Resistance is at 144 to 145.9. A close over 145.9 is friendly and augurs for a test of 156.

Support is near 142.4 then138.2 to 137.7

Dec. SoyBean Oil

Resistance is at 1761 to 1774 / 1780 and 1802.

Support is at 1692 to 1686 and 1661

Trade Accordingly and Stay tuned

Dec. Corn

Resistance is at 232. Above that sellers should appear near 236 and 239 then 243

Support is at 225 3/4 then 223.

Dec. Wheat

Resistance is at 289 1/2 and 293.. A close over 293 3/4 is friendly and augurs for a test of 298 to 301 and eventually 305 where resistance should appear. Beyond that resistance is at 309 and 318..

BW Traders should go long if a close over 288 3/4 occurs..

Support is at 283 1/2 and 278 to 275 1/2 under that support is at 271 1/2.

The Satisfying Softs

Dec. Cotton

On the DownSide support is at 5447 then 5405 and 5356 to 5344..

On the Upside Nearby Resistance is at 5492 to 5504. Beyond that resistance is at 5553 to 5577 and 5640 to 5653 a close over 5653 is friendly and augurs for a test of 5729 and 5792 to 5805..

Oct. Sugar

Nearby Support is at 586 to 583. BW Traders can buy at 583 and risk a close under 568 for three days in a row.

Resistance should appear at 609, a close over 609 is friendly and augurs for a test of 623 and the 630 to 634 region. A close over 634 is friendly and augurs for a test of

656 to 661 and eventually 680.

BW Traders should go long if a close over 609 occurs..

Dec. 'The Monster' Coffee

On the Upside, Resistance is at 9285 to 9300 and 9445 to 9460

On the DownSide, support is at 9156 to 9140. Under that 8875 to 8855 should contain a decline...

Stay tuned...

Dec. Cocoa

Support is at 955 and the 941 to 932 region under that 918 to 907 should hold..

Resistance is at 973 and 1000 to 1005 then 1015. Beyond that sellers should appear near 1032 to 1036 region and the 1058 to 1068 region..

BW Traders should go long if a close over 1005 occurs..

Trade accordingly

The Lively Livestock

Oct. Cattle

Support is at 6565 to 6552 then 6492and 6475

Resistance is at 6627 and 6642 and 6707. Beyond that resistance is at 6742

Oct. Hogs
Support is at 4207 . Below that support is at 4122 to 4112 and 4057 to 4047..

Resistance is at 4322 and 4402 then 4437

Stay Tuned for Hog and Belly Flashes.

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide nearby support is at 114-20 and 114-09 then 113-24 to 113-21 and 113-09 under that buyers should appear near 112-20 and 112-11 and contain a decline for a while..Under that 112-00 and 111-17 offer support.. BW Traders can buy at 112-00 and risk a close under 111-17 for three days in a row.

On the Upside Nearby Resistance is at 115-05 and 115-20 .. Beyond that sellers should appear near 116-12 and 116-27

Sept. SP 500

On the DownSide Nearby Support is at 1329 and 1322. MC Traders can buy at 1322 and hold for higher prices... Below that support is at 1310 BW Traders can buy at 1310 for a turn higher put your own risk on it and stay tuned. Under that support is at 1307 to 1304 Where it should hold on a decline basis the close. Below that buyers should appear near 1302.20 and 1300. Under that support is at 1289 and the 1274 to 1268 region...

Nearby Resistance is at 1334 and 1340 to 1341 beyond that a test of 1358.70 then 1361.50 is likely . MC Traders can sell at 1361.10 for a quick turn lower.. Put your own risk on it and stay tuned.. Beyond that resistance is at 1363.70 and 1371.20 ..A close over 1371.20 is friendly and augurs for a test of the 1377 to 1383 region Beyond that sellers should appear near 1399 to 1402...

Stay tuned for Flashes !

Dow Jones Industrial Avg.
Support is at 10,960 and 18,878 under that 10,820 should hold.

Resistance should appear near 11,010 a close over augurs for a test of 11,1155 and 11,189.5 and the 11,300 to 11,360 region.. Which should Cap a rally ...

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

Happy Trading

Bill

Aug. 19 1999
07:35 AM

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.

BW recommended Open Pos

Long Dec. Gold at 261.2

Long Dec. Cotton at 5489

Long Dec Bean Oil at 1703

Short Sept Yen at 8723

Long Dec Coffee at 9750

Long 2 Dec Silver 1 at 525 and 1 at 526.5

Long Sept C$ at 6762

Short Oct Cattle at 6622
Long Dec bonds at 114-23
Long Oct Hogs at 4307

Long Nov Beans at 467 1/2

Long Dec Wheat at 287 1/4

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