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Morning Comments 8-13-1997
Current Recommended Trades /exits suggested from Bi-Weekly Outlooks and Flashes
Open prior to 8-09(BW)
SIU L 8-05 450
COU L 7-17 1535
JOX L 7-28 7725
GCZ L 7-31 328.80
COTV L 8-08 7380
SUV L 8-08 1145
8-09(BW) ACTION DATE ENTRY EXIT DATE
JYU L 8-11 8672
SFU L 8-11 6610
BDU S 8-11 112-25 112-14 8-11
WZ L 8-11 379 3/4
HOU L 8-11 5470
SPU S 8-11 938.80 933.80 8-11
SX L 8-11 617
OJX L 8-11 8200
DMU L 8-11 5388
LHV L 8-11 7225 7280 8-11
HGU L 8-11 105.8
KCU L 8-11 203.65
BOZ L 8-11 2185
PBQ S 8-11 8480 8170 8-11
SPU S 8-11 942.40 934.30 8-12
LHV S 8-11 7180
FCV L 8-12 7965
HUU S 8-12 8365
LCV L 8-12 6967
CU S 8-12 268 1/2
SPU S 8-12 945.65 938.60 8-12
SPU L 8-12 923.65
PLV L 8-12 437
SX L 8-12 808
August 13 1997 1:00 AM est
Sept. J-Yen Recommended position
Long at 8672
Near term resistance is at 8640 them8662 above that 8683 then 8740.More
Resistance is near 8795 then 8834 beyond that 8934 offers resistance, beyond
that 8965 should trade. A close over 8965 augurs for a trade to 9044 to
9060 . Traders should Sell at 9068 for a 2-day turn lower, risk a close
over 9060. Beyond that 9266 is likely , then 9480 where Position traders
should sell and risk a close over 9526 for three days in a row.
On the Downside Nearby Support should be evident at 8597 buy there for
a bounce, risk a trade under 85607 A failure at 8617 would augur for a
slip to 8564 where minor support rests, below that traders should buy at
8484 for a turn higher , risk a close under 8480. Beyond that augurs for
a slip to 8406 where buyers should have orders resting for a long position
. Risk a close under 8355 for two days in a row.
Trade Accordingly.
Sept. Swiss Franc Recommended
Position Long at 6610
Support should appear at 6550. Below that 6529
offers some support. Buy there for a bounce risk 30 pts. Early Resistance
is at 6606 then 6629 beyond that 6650 to 6673 , then 6697 a close over
6697 augurs for a trade to 6747 sell there for a quick turn risk a close
over 6797 for three days in a row. Above that 6817 is likley then 6836.
Sept. British:
Early Support is at 156.90 below that 155.06 offers
support ,buy there for a turn higher risk a close under 153.50 for three
days in a row. Resistance is near 159.76 then 160.90 sell there for a turn
, risk a close over 161.50 for three days in a row.
Sept. D-Mark Recommended Position
long at 5388
Resistance should appear near 5392/5394 , a close
over augurs for a pop to 5438 then 5488 above that 5553 offers resistance,Short
term traders can sell short at 5553 for a turn, risk a close over 5577
initially.Stay tuned. Beyond that 5633 is likely. Support is near 5356
then 5344, buy there for a bounce, risk a 20 pts
Trade Accordingly.
Precious Metals
December Gold Recommended Position
long at 328.80
Long term traders should have buy orders waiting
to assume longs for the 'pull' at 326.90 risk a close under 315.0 for three
days in a row. More Support is at 321.2 .Resistance is near 336.1 then
341.2 A close over 336.5 augurs for a thrust to 345..Where Longs can sell
calls or exit positions and await a dip to re-buy. A close over 346 augurs
for a trade to 353 where traders can short the Yellow Metal for a turn
only , risk a close over 356.
Be Long ...Conservative Traders Should Buy April and Feb Gold 370 Calls to maintain exposure on the long Side... .
Sept. Copper Recommended Position
long at 105.80
Resistance is near 105.75 then 106.90, a close
over 105.85 augurs for a test of 107.65 then 109.60, above that sell at
113.90 for a turn lower , risk a close over 114.10 for two days in a row.
Support remains at 102.90 should hold. Buy at 101.65 for a bounce stay
tuned.
Trade Accordingly
Oct. Platinum Recommended Long
at 437
Support should appear near 427 where aggressive
traders can begin to buy, more support rests near 417 where traders should
buy for the 'pull' Risk a close under 401 for three days in a row.Resistance
is near 437 then 455. Beyond that 464 and 478 close over 478 augurs for
a trade to 500.
Buy dips
Sept. Silver Recommended Position
long at 450
Support should appear near 432 where long term
long term traders can buy for a position, risk a close under 425 for three
days in a row. Resistance is near 451 then 468.5 sell there for a turn
or to exit , stay tuned ...
Be long.
The Exciting Energies
Sept. Crude Oil.
Support is near 1946 to 1953 , buy there for a
bounce . Below that 1915 then 1882 offers support where traders should
have buy orders waiting for a good bounce , risk a close under 1865 for
three days in a row. More support is near 1915 where traders can buy for
a turn higher. stay tuned.. Resistance is near 2026. Short term traders
should sell at 2026 risk a close over 2042. More Resistance is near 2088
, a close over 2088 augurs for a thrust to 2170 and beyond.
Sept Unleaded Recommended Short
at 6365
Support is near 6065 where traders should buy
using a stop close under 5905 for two days in a row. More Support is near
5845 where traders should have buy orders resting for a turn higher , risk
100 pts. Below that 5725 is likely to trade Resistance is near 6480 is
where traders should sell for a Position risk a close over 6510 for two
days in a row.
Sept Heating Oil. Recommended
Position long at 5470
Support is near 5500 then 54665. Below that 5325
, 5205 offers a buying region and where traders can buy for a turn higher
and risk a close under 5190 for three days in a row. Near term Resistance
is at 5555, a close over augurs for a pop to 5650 then 5700. Exit longs
& Sell short at 5710 , risk a close over 5790 for three days in a row.
More Resistance is near 5980. Sell at 5945 for a turn and risk a close
over 6035 for two days in a row. Stay Tuned
The close over 5510 is friendly.
Trade Accordingly
The ‘Grande’ Grains
November Beans Recommended position
Long at 617 &608
Resistance is near 622 to 623 a close over augurs
for a test of 636, exit longs or sell short 7 cents.
In any event don't be short on a close over 623 1/2.
Support is at 596 where traders should buy with BOTH HANDS for the pull
and pray for an early frost.
Trade Accordingly
Dec Soybean Meal
Support is near 196.5 where traders should Buy for
a bounce risk a lose under 192.20
Resistance is near 204 then 207
Dec Soybean Oil Recommended position
Long at 2185
Buy Dec Bean Oil at 2183 to 2176 more good support
is at 2143 Buy there , risk a close under 2126 for three days in a row
on either.
Below that 2088 should hold. Long term traders should buy at 2088 for the
'Pull'
Resistance is near 2283 a close over indicates a trade to 2339.
Sept Corn Recommended Short at
268 1/2
Early support is 265 then 262, Resistance is 275
3/4 then 277 1/2..
December Wheat Recommended positon
Long at 379 3/4
Resistance is near 381 then 385,beyond that sell
short at 388 and risk a close over 392 for three days .in a row. Support
is near 374 3/4 , Below that Buy at 368 with BOTH HANDS for a good bounce
risk 5 cents.
Trade Accordingly
The Satisfying Softs
October Cotton Recommended
Position Long at 7380
Support is near 7445 then 7355 below that traders can buy for a bounce
at 7205 use a stop close under 7190 for 3 days in a row. Resistance should
appear near 7545 beyond that 7620 sell there for a turn risk a close over
7690 for two days in a row.
October Sugar Recommended position
Long at 1149.
Support is near 1146 then 1121 where traders can
buy for a bounce, risk a close under 1106 for three days in a row.More
Support is at 1092. Resistance is near 1157, a close over augurs for a
rally to 1186 then 1190 where traders can sell for a turn, risk a close
over 1203 for three days in a row.
September the' Monster' Coffee Recommended
Position Long at 203.65
Early support is 183 Buy at 183.00 for the 'pull', risk a close under
179.00 for three days in a row., If that fails a slip o 155 is likely.
Resistance is near 192.25 then 201.90 /202.05 . a close over indicates
a test of 206.85 then 210.60. Beyond that 212.50 and 215., a close over
215 augurs for a rally to 222 then 239 where 'Hearty' traders can sell
at 237.00, risk a close over 240 for three days in a row.
Have your' Steel Cup' Ready
November Orange Juice Recommended position Long at
7725 and 8200
Support is at 8200 then 8120, buy there for a bounce risk a trade under
8050 as support should appear at 8065 , Resistance is near 8325 then 8620
where traders should consider exiting 1/2 of longs ...stay tuned
Sept Cocoa Recommended Position
Long at 1535
Support is near 1486 then 1459 where traders should
buy for a bounce risk a close under 1439 for two days in a row. More support
is at 1446. Resistance is near 15010, above that 1529 then 1542 , a close
over 1536 augurs for a test 1576. Beyond that sell short at 1595 risk a
close over 1615 for three days
in a row.
Sept Lumber
Support is near 348.30, buy there risk a close under 344 for three days in a row.More Support is 338. where traders can buy for a bounce risk a close under 330.Resistance is near 355.40 then 358.70,
Trade Accordingly.
The Lively Livestock
Oct Cattle: Recommended Long at
6972
Support is at 6905 then 6862. Resisitance is near
6977 then 7052 to 7067, beyond that 7122 offers a selling oppurtunity,
sell at 7122 risk a close over 7170 for three days in a row.
Trade Accordingly.
October Feeder Cattle Recommended Long at 7965
Resistance is near 8005 to 8025 a close over augurs
for a test of 8082 then 8170.
Trade accordingly.
October Hogs Recommended Position
short at 7180
Nearby Resistance is at 7232, sell at 7232 for
a quick turn lower , risk 50 pts. Above that 7317 to 7332 offers resistance
, sell at 7317for a turn, risk 120 pts.
Support is at 7132 then 7057. The close under 7210 augurs for a test of
7012 , buy or cover at 7022 , risk a close under close under 6927 for three
days in a row.
A close under 7215 keeps charts on the defensive...
August Bellies
Support is near 8137 then 8005 then 7957.
a close under 7877 augurs for a test of
7777 , then 7642. Beyond that 7587 . Resistance is near 8377 sell there
for a turn lower, risk a close over 8447 for three days in a row.
Feb Bellies
Support is at 7237 offers support , buy 7237 risk
a close under 7097 for two days in a row. Resistance is near 7680 sell
there for a quick turn down , risk a close over 7847 for three days in
a row. stay tuned
U.S. 30 Year Bond Futures.
Sept Bonds
Resistance is near 112-10, beyond that a test
of 112-25 to 112-27 should occur , above that 113-26 is likely, and where
resistance should be firm.t Position traders should Sell short at 113-25
risk a close over 114-05 for three days in a row. Above that 114-12 offers
heavy resistance.
Nearby Support is 112-01 then 111-27 , 111-23 has firm support , a close
under augurs for a test of 111-07 If 111-07 fails to hold , then 110-27
should trade, a close under that would yeild an eventual slip to 109-28
then 109-15.
Trade Accordingly
Standard and Poor's SP 500 Index Futures
Sept SP500 Recommended Position
long at 923.60
On the Downside, Early and critical support is
923.60 where traders can probe the long side, for a 'quick' bounce higher..stay
tuned
Below that 921.80 offers supports. then 917.40 , below that .Buy at 915.60
for a turn higher ..stay tuned, 915.15 and 914.05 offer support also. A
close Below 914,05 augurs for a test of of 906 00 with 904 below that..If
the market falls to 897.40, go long for a good bounce. A close under 893.40
augurs for a pull back to the 882.00 region , failure there indicates a
slip to 872 then 868.30 with 840.60 the place where traders should Buy
and Hold.
On the Upside, Resistance is at 929.90 to 931.60 then 934.70 to 935.30
and 936.10 , beyond that 938.35 to 942.90 with 944.40 above that . Good
sellers are 945.65 sell there risk a close over 951.45 for two days in
a row. Above that 953.70 offers resistance , beyond that 957.60 then 962.30
should bring out good sellers. Sell at 962.50 for a turn lower. Stay Tuned
More sellers should appear near 966.25 where hearty traders should sell
short for a turn lower. Trade Accordingly.
Happy Trading
Bill
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