FuturesCom Investment Publications

FuturesCom Investment Publications

Dedicated to Excellence in Analysis of Futures Markets
Morning Comments (MC) Monday, August 23, 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

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Courage in a Speculator is merely confidence to act on the decision of his mind

Sunday August 22, 1999
7:45 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Early Support is at 9011 below that support is at 8974 to 8964 and 8934.

A close under 9011 is negative and augurs for a test of 8871 to 8856.

Nearby Resistance is at 9018 and 9045 to 9060 above that good sellers should appear near 9074 to 9079.. Beyond that resistance is at 9118 to 9134.

Sept. D-Mark

Support should appear at 5447 and 5430 under that support is at 5418 and 5407 to 5397.

Resistance is at 5492 to 5504, day traders can sell at 5492 a turn lower, risk 30 pts.

Beyond that sellers should appear near 5547 to 5553..

Trade accordingly

Sept. Swiss

Nearby Support is at 6692 and the 6673 to 6659 region. A slip or close under 6692 is negative and augurs for an eventual test of 6642 and the 6591 to 6577 region..

Resistance is at 6707 and 6741 Beyond that sellers should appear near 6755 and cap a rally.. Day Traders can sell at 6741 and hold for lower prices..

Sept. British Pound

Support should appear near 1.6150 and 1.6090. Below that buyers should appear near 1.6028

Resistance is at 1.6188 and 1.6226 Beyond that resistance should appear near 1.6272 to 1.6286., a close over 1.6286 is friendly and augurs for an eventual test of the 1.6420 to 1.6550 region.

Sept. Canadian Dollar

Support should appear at 6680, Day traders can buy at 6680 and risk 40 pts.. Below that buyers should appear near the 6673 to 6659 region. Aggressive BW traders can buy a dip to 6673 and risk close under 6659 for three days in a row. Under that support is at 6629 to 6626.. where buyers should appear and stop the break..

Resistance is at 6707 then 6733 and the 6741 to 6755 region..

Stay tuned for FuturesCom's Forex flashes

Precious Metals

Dec. Gold

Nearby Support is at 258.6 and 256.8 to 255.2 which should hold..

Resistance is at 261.9 to 262, a close over 262 is friendly and augurs for an eventual test of 266

Dec. Copper

Nearby Support is at 7510 to 7490. Below that support is at 7435 and 7325

Aggressive BW traders can buy at 7345 , risk a close under 7250 for two days in a row..

Nearby Resistance is at 7605 to 7625 and 7670 beyond that sellers should appear near 7720.

Oct. Platinum

Support is at 353.2 and 350.5 Under that support is at 345 and the 343 to 341 region.

Resistance is at 357.5. Above that resistance should appear near the 361.3 to 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 525 and 519.. 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 531.5 and 534.5 to 535.5 Beyond that sellers should appear near 541 to 543. A close over 543 is friendly and augurs for a test of 558. 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 2185 to 2170 and 2155. Below that support is at 2134 to 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

Resistance is at 2193 then 2219 to 2226 and the 2267 to 2275 region. 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

Support is at 6350 to 6337 and 6270 to 6255

Resistance should appear near 6418 to 6430 Beyond that resistance is at 6480 to 6509 and 6577 to 6591 which should cap the rally ..BW Traders can sell at 6577 and risk a close over 6591 for two days in a row

Oct. Heating Oil

Nearby Support is at 5805 to 5792, a close under 5792 is negative and augurs for a test of 5729 to 5716 and 5685.

Resistance is at 5880 and 5945 to 5957.. Beyond that sellers should appear near the 6023 to 6035 region aggressive BW traders can sell at 6023 and hold for lower prices

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 477 1/4 and 480 1/2 to 482 1/2 beyond that resistance is at 485 3/4.. A close 485 3/4 is friendly and augurs for a test of 496 and eventually

508 3/4 then 512 1/2 to 514.

Support is at 471 1/2 to 468 1/2 , day traders can buy at 469 and risk 7 cents.

Below that support is at 457 and 455 to 452 1/2..

Dec. Soybean Meal

Resistance is at 145.3 to 145.9 and 149.6 A close over 149.6 is friendly and augurs for a test of 156.

Support is near 142.4 then 138.2 to 137.7

Dec. SoyBean Oil

Resistance is at 1774 to 1780 beyond that a test of the 1802 to 1822 region is likely.

Support is at 1738 to 1731 and the 1696 to 1689 region Day traders can buy at 1698 and hold for higher prices Below that support is at 1675 and the 1655 region.

Trade Accordingly and Stay tuned

Dec. Corn

Resistance is at 224 1/2 and 227 3/4 to 228 1/2 . Above that sellers should appear near the 230 to 232 region.

Support is at 219 1/2 to 218 1/2 and 215. Below that support is at 213, BW traders can buy at 213 and risk a close under 207 1/2 for three days in a row

Dec. Wheat

Resistance is at 291.1/2 A close over 291 3/4 is friendly and augurs for a test of 296 to 297 1/2 Beyond that resistance is at 303

Support is at 285 1/2 to 284 1/4 under that 279 3/4 offers support.

The Satisfying Softs

Dec. Cotton

On the DownSide support is at 5344 to 5330 and 5282 Day traders can buy at 5330 and risk 70 pts. Below that buyers should appear near the 5230 to 5211/ 5200 regions.

On the Upside Nearby Resistance is at 5356 and 5418 to 5430 , a close over 5430 is friendly and augurs for a test of 5510 . Beyond that resistance is at 5530 and 5553 to 5577.

Oct. Sugar

Nearby Support is at 609 and 601 under that 586 to 581 should hold.. BW Traders can buy at 583 and risk a close under 568 for three days in a row.

Resistance should appear at 620 and the 630 to 634 region then 640.. However a close over 634 is friendly and augurs for a test of 656 to 661 and eventually 680.

Trade Accordingly.

Dec. 'The Monster' Coffee

On the Upside, Resistance is at 9235 then 9315 to 9340 .beyond that sellers should appear near 9445 to 9460 and the 9545 region.. a close over 9545 is friendly

On the DownSide, support is at 9155 to 9140. High Risk Day traders can buy at 9155 and hold for higher prices... Under that support is at 9060 to 9045 and 8954 to 8935 below that 8875 to 8855 should contain the decline.

Stay tuned...

Dec. Cocoa

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

Day traders can buy at 941 and risk 30 pts.

Resistance is at 959 and the 968 to 972 region. Above that sellers should

appear near 985.

A close over 959 is friendly..

The Lively Livestock

Oct. Cattle

Support is at 6522 then 6492 and the 6432 to 6417 region.. BW Traders can buy at 6432 for a turn higher, risk a close under 6337 for three days in a row.

Resistance is at 6567 and 6607 beyond that sellers should appear near 6642

Oct. Hogs
Support is at 4437 and 4397 to 4377 below that 4337 offers support.. Under that support is at 4272

Resistance is at 4532 to 4537 and 4577, beyond that seller should appear near the 4637 to 4652 region.

Stay Tuned for Hog and Belly Flashes.

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide nearby support is at 114-15, day traders can buy at 114-15 and risk 20 pts under that support is at 114-00 and 113-25 below that buyers should appear near 112-25 and contain a decline for a while.. Under that 112-00 offers 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 114-25 to 114-28 beyond that a test of 115-05 to 115-08 is likely.. Beyond that sellers should appear near 115-25 and 116-00

Sept. SP 500

On the DownSide Nearby Support is at 1340. Day traders who have ice Water running through their veins can buy at 1340 and hold for higher prices. Below that support is at 1334 to 1332.30 Day traders can buy at 1334.. put your own risk on it and stay tuned. Under that support is at 1325.20 and 1322 Where a decline should hold basis the close. Under that 1310 to 1309 offer support. 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

Nearby Resistance is at 1341.50. An extended trade over 1341.50 augurs for a test of 1346 to 1348.10. Beyond that resistance is at 1352 and 1355.70. Above a test of 1360.00 to 1361.50 is likely. Where good sellers should appear. A close over 1361.50 is friendly and augurs for a test of 1371.20 Beyond that a test of the 1377 to 1383 region is likely to occur.

Stay tuned for Flashes!

Dow Jones Industrial Avg.
Support is at 11,032.8 and 11,010, below that support is at 10,992.7 to 10,985 and 10,960 under that 10,820 should hold.

Resistance should appear near the 11,155 to 11,168.3 region. Beyond that resistance is at 11,221.7 and the 11,300 to 11,360 region.. Which should Cap a rally for a bit.

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

Happy Trading

Bill

Sunday Aug. 22 1999
10:20 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.

MC recommended Open Pos. NONE

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 at 525.8 avg.

Long Sept. C$ at 6762

Long Dec. bonds at 114-23
Long 2 Dec. Wheat at 288 1/4 avg.
Short Sept. Swiss at 6659
Long Dec. Copper at 7515
Short Oct. Heating Oil at 5830

Long Sept. British Pounds at 1.6188
Long Oct. Sugar at 610

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