FuturesCom Investment Publications
Morning Comments Oct 27 1998
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Courage in a Speculator is merely confidence to act on the decision of his mind

10/26/98 8:37:12 PM

On the Frenzied Forex Front

Dec. Japanese-Yen recommended position long at 8664

On the DownSide support is 8406 to 8391 then 8378 Under that support is at 8349.

On the Upside resistance is at 8449 then 8484, a close over 8484 augurs for a test of 8560. ,....patience

Dec. D-Mark Recommended position short at 6011

Resistance is at 6035 then 6071 and 6101. Day traders can sell at 6071 for a turn lower , risk a trade over 6117 Support is at 6021 below that support is at support is at 5971 then 5957 to 5945 and 5927, where traders can buy at 5957 and hold for higher prices.

Dec. Swiss

Resistance is at 7414 to 7430 Day traders can sell an early rally to 7430. Above that resistance is at 7480 to 7486.

On the DownSide Support should appear 7380 then 7342 to 7328. Traders can buy at 7342 for a good bounce, risk a close under 7328 for three days in a row.

Trade Accordingly

Dec. British Pound recommended position long at 1.6890
Support is at 1.6550 and 1.6420, day traders can buy at 1.6550 , risk a trade under 1.6410. Resistance is at 1.6616 then 1.6730 and 1.6860.

Dec. Canadian Dollar

Support is at 6483 and 6442, day traders can buy at 6442 risk 30 pts.
Resistance is at 6509 and 6523 to 6542. A close over 6542 augurs for a test of 6577 to 6591. Beyond that 6673 offers resistance. Traders can sell at 6673 for a turn lower, risk a close over 6741.

Precious Metals

Dec. Gold Recommended position Long at 301 and 298.10

Support is at 291.6 to 288.5 Resistance is at 294.4 and 295.10.
A close over 294.0 is friendly and augurs for a test of 301.6

Dec. Copper: Recommended position long at 7390

Nearby Support is at 7150 and 7055 then 6950

Resistance is at 7245 a close over 7260 augurs for a test of 7350 then 7450. A close over 7510 augurs for a test of 7610 and 7650 to 7710. *Traders should go long if a close over 7510 occurs..

Jan. Platinum Recommended position long (2)354.6 and 353.5.

Support is at 338.9 and 337.5 Resistance is at 342.0 to 344.5 and 347.

Dec. Silver recommended position long at 505, 499.5 and (2) 483.5

On the DownSide: Support is at 493.5, day traders can buy at 493.50, below that support is at 487. On the Upside. Resistance is at 503 and 506 a close over 506 is friendly for a spurt towards 533.

Be long...

The Exciting Energies

Dec. Crude Recommended Position long 2 at 1439

Support is at 1421 then 1415 and 1404 where it should hold.
Resistance is at 1430 beyond that a test of 1454 is likely

Trade Accordingly

Dec. Unleaded Gas recommended position long 3 at 4430.

Support is at 4375 and 4280 day traders can buy at 4285, risk 50 pts.
Below that support is at 4170.
Resistance is at 4475. A close over 4475 augurs for a test of 4575.

Dec. Heating Oil Recommended Position Long at 3870. .
Resistance
 is at 4035 and 4065, a close over 4065 is friendly and augurs for an

eventual test of 4155 On the DownSide support is at 3960 and 3915 where it should hold today.

The Grande Grains

November Soybeans Recommended position long at 558 and 546

Support is at 546. Below that 539 and 534 should hold.

Resistance is at 549. A close over 549 augurs for a test of 562 and
eventually to 576 and 583 Traders should go long. Add if a close over 561 occurs...

Dec. Soybean Meal recommended position long at 138.3

Support is near 139.0, under that 137.1 to 136 should hold. Resistance is at 146.7 and 147.5

Dec. Soybean Oil

Support is 2461 and 2418

Resistance is at 2469. A close over 2469 augurs for a test of 2492 and 2512..

Dec. Corn Recommended position long at 219
Support
 is at 217 1/2 and 216 1/4 to 215

Resistance is at 220 1/2 and 225 1/4

Dec. Wheat recommended position long at 290
Resistance
 is at 3001/2 and 302 1/4 Beyond that resistance is at 306 and 311 1/2

Support is at 299 and 294 1/2 then 288.

Trade Accordingly...

The Satisfying Softs

Dec. Cotton recommended position long at 7425, 7256, 6755, and 6885

Support is at 6749 then 6700 and 6675

Resistance is 6780 and 6809 then 6835. A close over 6780 is friendly and augurs for a test of 6910 and 6990 to 7003.

March Sugar Recommended position long at 786

Support is at 762 then 754 where it should hold. Day traders can buy at 754 risk a trade under 740. Below that support is at 728.

Resistance is at 767 then 778 and 791 where sellers should appear. Beyond that

a trade to 808 and 814 is likely.

*Traders should go long using a 799 buy stop.,

Dec. Coffee:

On the downside, Support is at 110-10 and 109.60. Below that 107.15 to 106.80 and 105.80 should hold.

On the Upside, Early Resistance is at 110.95. An extended trade over or close over 110.96 augurs for test of 112.15 and 113. to 113.60 then 115.10 and 116.40 to 116.90 Traders can Go Short at 116.40, risk a close over 119.20 for three days in a row.

Dec. Cocoa

Support is at 1496 and 1488 to 1484 where it should hold.

Resistance is at 1529 then 1535 to 1538. However a close over 1538 augurs for a test of 1569 to 1576.

**Traders should go long if a close over 1576 occurs.

The Lively Livestock

Dec. Cattle

Nearby Support is at 6592 and 6552 then 6522 to 6507 Day traders can Buy at 6552 for a turn higher, risk 80 pts. Resistance is at 6627 and 6657, beyond that a test of 6702 to 6732 is likely .

Dec. Hogs

Support is at 3927 and 3917. Day Traders should Go long at 3917 and risk 70 pts. A close under 3917 is negative for a test of 3857 where it should hold. Under that support is at 3817. Resistance is at 4017 and 4052. A close over 4017 is friendly and augurs for an eventual test of 4117.

Recommended Spread Long 5 Feb. Hogs, Short 5 April
-135 Feb. Under April.

Feb. hogs Recommended position long at 4410

Support is at 4427 to 4407. Below that 4357 and 4327 offers good support.

Resistance is at 4527 then 4557 , beyond that a trade to 4622 is likely.

Feb. Bellies recommended position long at 5030

Nearby Support is at 4917 and 4857 Below that 4827 should hold and be bought.

Stay tuned..Resistance is at 4977 an extended trade over 4977 augurs for a test of 5127 beyond that a test of 5217 is likely ... Buy this Dip...

-Stay tuned for Updates in the Meat Complex.-

--From the Frying Pan into the Fire--

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide, support is at 128-00 , under that 127-22 should hold.

On the Upside: Resistance is at 128-17 and 129-00 , a close over 129-00 augurs for a test of 129-17 and 130-00

Dec. SP500

On the DownSide, Support is at 1074.50 and 1072.10 to 1071.30 Day traders should buy at 1074.50 for a bounce.. put your own risk on it... Below that support is at 1068 and 1063 then 1058. An extended slip under 1057 augurs for a test of 1047.00 Below that 1039.40 to 1038.00 and 1036 should hold. Traders can Buy at 1039.40 and Hold.....A close under 1036 indicates a test of 1030. Below that support is at 1021.90 and 1018.50 , under that 1008.60 should contain a break...for now on a closing basis.

On the Upside, Resistance is at 1082 Where good sellers should show up at. An extended trade or close over 1082 augurs for another test of 1090.80 and most likely 1096 and 1101 to 1104.10. Which is more likely to happen than not.

A close over 1104.10 augurs for a likely test of 1110.40 and 1115.50 to 1118.20. A close over 1115.50 augurs for an eventual test of 1130 to 1136 Which should cap a rally, Traders can sell short at 1133.50. Initially Plan on Risking a close over 1136 for three days in a row.

Stay Tuned for Updates and Flashes.

The Dow Jones Industrial Average

Support is 8406 to 8391, a slip under 8390 augurs for a test of 8314 to 8300 Where it should hold basis the close.

Resistance should first appear at 8445 and 8484 to 8499. Beyond that resistance is at 8560 and 8584.

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

Happy Trading

Bill

10/26/98 9:30:25 PM

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