FuturesCom Investment Publications
Morning Comments 9-2-1998
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Wed. Sept. 2nd 1998

4:00 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is 7255 and 7242 then 7170 and 7143, below that 7109 and 7088 offer good support. Resistance is at 7328 to 7342 and 7414 to 7428.

Sept. D-Mark

Resistance is at 5729 then 5777 and 5792 to 5805. Traders can sell short at 5880 and hold for lower prices.

Support is at 5677 and 5655, below that support is 5627.

Sept. Swiss

Nearby resistance is at 6990 to 7003 then 7028 and 7078.

Support is at 6928 and 6919. Below that good support is near 6875 and 6836.

Traders should look to short DM and SF during this rally for a turn lower in

coming days, we will roll the work to DEC shortly

* New Trade: Traders should short Sept. Swiss at 7074 if able

Sept. British Pound: Recommended position short at 1.6420
Support is at 1.6550 to 1.6420.

Resistance is at 1.6730 and 1.6890 to 1.6960

Sept. Canadian.

Support is 6417 and 6385

Resistance is at 6509 and 6535.

Precious Metals

Dec. Gold Recommended Position Long 3 at avg. 289.8

Support is at 279 then 275.20 and 270

Resistance is at 284 and 285.20, a close over 285 augurs for a test of 291

Dec. Copper: Recommended Position long at 7470 and 7255

Nearby Support is at 7435 and 7365

Resistance is at 7570 and 7685.

Oct. Platinum Recommended position long at 372.5 and 379.5

Nearby Support is at 361 and 359.

Resistance is at 370 and 376

Bullish long term

Dec. Silver Recommended Position long at 4 at 521

On the DownSide: Nearby Support is at 475 and 468.

On the Upside. Resistance is at 491 and 498.

The Exciting Energies

Oct. Crude recommended position long at 1364 and 1348

Support is at 1335 and 1310 to 1308 Under that 1289 to 1274 should hold. Traders can buy at 1297, risk a close under 1289 for three days in row.

Resistance is at 1377 to 1383 and 1393 then 1414

Oct. Unleaded Gas recommended position long 2 at 4070

Support is at 3982 and 3882 where it should hold.

Resistance is at 4180 and 4225

Oct. Heating Oil Recommended Position long at 3544

Resistance is at 3780 and 3830

Support is at 3615. Below that 3470 to 3425 should contain a break.

Traders can buy at 3445. Risk a close under 3370 for three days in a row.

The Grande Grains

November Soybeans Recommended Position Long 540

Support is at 514 and 508 1/2

Resistance is at 522 and 527 1/2.

Dec. Soybean Meal Recommended long at 143.80 and 138.30

Support is at 131.4 and 129.5

Resistance is at 135.5 and 139

Trade Accordingly.

Dec. Soybean Oil recommended position long 2437 and 2366

Support is at 2371 and 2354.

Resistance is at 2419 and 2451.

Dec. Corn

Support is at 198 and 194 Resistance is at 203 3/4 and 208 1/2.

Dec. Wheat

Resistance is at 257 3/4 and 261. Support is at 252 and 250

The Satisfying Softs

Dec. Cotton Recommended Position Long at avg. 7288, 7385, 7593

Nearby Support is at 7235 and 7180. Resistance is at 7395 then 7435 and 7505

Oct. Sugar

Support is at 729 to 712 which should hold a decline today.

Resistance is at 752 and 767 A close over 767 is friendly for a test of 792.

Dec. Coffee:

On the downside, 113.00 and 110.10 to 109.60. Traders can buy at 110.10 for a good turn higher, risk a close under 105.80 for three days in a row.

On the Upside, Resistance is at 116.00 to 116.90 and 118.10 then 119.20 to 120.30. Above that 125.50 and 126.80 to 127.40/ 128.05 offer good resistance. Traders can go short at 127.40 for a quick turn lower, risk a close over 128.90 for three days in a row.

Trade Accordingly.

Dec. Cocoa Recommended Position Long at 1569

Support is at 1609 and 1589 and 1576 Below that 1569 should hold today.

Resistance is at 1639. Above that good resistance is at 1661 and 1689.

The Lively Livestock

October Cattle

Support is at 5842. Below that 5792 to 5762 should hold.

Resistance is at 5912 and 5937 then 5987. A close over 5987 augurs for a test of 6197.

October Hogs Recommended Position Long (3) 4302 avg., 4327, 4057.
Resistance is 3737 and 3827.

Support is at 3547

Dec. Hogs Recommended position Long at 4057
Support is at 3582. And 3505

Resistance is at 3782 and 3807

Feb. Bellies recommended position long at 5500 and 5550, hold.

--From the Frying Pan into the Fire--

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide, Support is 125-27 and 125-11

On the Upside: Resistance is at 127-10 and 127-24

Sept. SP500 recommended position long at 1052.00 and 1036

On the DownSide, Support is at 991 then 973.90 and 970.60. Below that the 964.10 to 962.50 region should hold.

On the Upside, Resistance is at 1000 to 1005. A close Over 1005 augurs for a test of 1035

Dow Jones Industrial Avg.
On the Upside resistance is at 7939 to 7954 and 8064 to 8080

On the DownSide support is at 7777 and 7763 then 7687 and 7625. Below that 7537 and 7486 should hold.

Happy Trading and stay tuned for flashes today.

Bill

Wed. Sept. 2 1998

05:44 AM

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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.