FuturesCom Investment Publications
Morning Comments Oct 30 1998
Dedicated to Excellence in Analysis of Futures Markets
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments
Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988
5845 Autumn Ridge Rd Lake Worth Florida 33463 USA 561-433-2995 http://www.futurescom.com

What the Wise do in the Beginning, Fools do in the End." --Warren Buffett

10/30/98 5:39 AM

On the Frenzied Forex Front

Dec. Japanese-Yen

On the DownSide support is 8569 and 8535. Below that 8528 should hold.

Day traders can Buy at 8569 for a bounce.
On the Upside resistance is at 8670 and 8737, beyond that a test of 8760 is likely.

Dec. D-Mark Recommended position short at 6011

Resistance is at 6081 and 6105. Day traders can sell at 6105 for a turn lower, risk a trade over 6145 Support is at 6035 below that support is at support is at 6005 then 5957 to 5945 and 5927, where traders can buy at 5957 and hold for higher prices.

Dec. Swiss

Resistance is at resistance is at 7490 to 7505 and 7540. Day traders can sell at 7505, risk 40 pts.

On the DownSide Support should appear 7440 and 7405. Below that 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 1.6730 then 1.6680 and 1.6550, Resistance is at 1.6780 then 1.6850 to 1.6890

Dec. Canadian Dollar

Support is at 6416 and 6401
Resistance is at 6496 and 6501. A Close over 6516 augurs for a test of 6546. 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 293.6 and 292.90 Resistance is at 295.6 and 298.80.

Dec. Copper: Recommended position long at 7390

Nearby Support is at 7090 then 6970

Resistance is at 7175, a close over 7175 augurs for an eventual test of 7370.

Jan. Platinum

Support is at 334.5 and 330 Resistance is at 337.5 and 340.

Dec. Silver

On the DownSide: Support is at 499.5, day traders can buy at 499.50, below that support is at 494.5 and 493. On the Upside. Resistance is at 513 and 523.

The Exciting Energies

Dec. Crude Recommended Position long 2 at 1439

Support is at 1415 and 1411 then 1404 where it should hold. Under that 1386 offers support.
Resistance is at 1436 and 1454. a close over 1454 is friendly for a pop to 1487.

Trade Accordingly

Dec. Unleaded Gas recommended position long 3 at 4430.

Support is at 4355 and 4295. Below that support is at 4225 to 4195.
Resistance is at 4395 to 4425. A close over 4425 augurs for a test of 4495.

Dec. Heating Oil Recommended Position Long at 3870.
Resistance is at 3950 and 3995 to 4010. Beyond that 4105 offers resistance

On the DownSide support is at 3855 and 3790 where it should hold today.

The Grande Grains

November Soybeans

Support is at 550 1/2 Below that 543 to 537 should hold.

Resistance is at 553 to 555 and 560 3/4

Dec. Soybean Meal

Support is near 139.1 3 under that 136 should hold. Resistance is at 143.1 and 145.1

Dec. Soybean Oil

Support is 2469 and 2455

Resistance is at 2492 then 2512 to 2519

Dec. Corn Recommended position long at 219
Support is at 216 3/4 and 215.

Resistance is at 221 1/2 to 223 1/4

Dec. Wheat recommended position long at 290
Resistance is at 292 1/2 and 295 1/2 Beyond that resistance is at 297.

Support is at 289 1/2 then 285 1/4

Trade Accordingly...

The Satisfying Softs

Dec. Cotton recommended position long at 6755, and 6885

Support is at 6673 and 6626 then 6545.

Resistance is 6745 to 6755. Beyond that resistance is at 6775 and 6825.

March Sugar Recommended position long at 786

Support is at 767 and 763 then 743 where it should hold. Day traders can buy at 763 risk a trade under 751. Below that support is at 726.

Resistance is at 774 then 782 and 791 where sellers should appear.

Dec. Coffee:

On the downside, Support is at 106.80 to 106.30 and 105.80 then 105.10. Day traders can buy at 105.15 for a good bounce, put your own risk on it. Under that 103.80 to 103.00 should hold.

On the Upside, Early Resistance is at 107.55 and 109.60 to 110.10. Beyond that a test of 112.00 and 113.00 to 113.60 is likely.

Dec. Cocoa

Support is at 1496 to 1494 and 1484 where it should hold.

Resistance is at 1512 then 1529 to 1535 and 1540.

The Lively Livestock

Dec. Cattle

Nearby Support is at 6487. If an early decline occurs, Traders can buy with both hands at 6417 for a bounce, risk a close under 6337 for three days in a row.

Resistance is at 6527 and 6557 to 6587.

Dec. Hogs

Support is at 3732 and 3682 then 3632.

Resistance is at 3822 and 3837. Beyond that 3852 offers good resistance.

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

Feb. hogs Recommended position long at 4410

Support is at 4345 to 4312 offers good support and should hold basis the close

Resistance is at 4412 then 4447 and 4512.

Feb. Bellies recommended position long at 5030 ,4 at 4835, 4850, 4857.

Nearby Support is at 4857 and 4837 below that support is at 4817 then 4775 and 4687. Under that 4592 should hold.

Resistance is at 4897 then 4917 beyond that resistance is at 4987 and 5137

-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 129-21, under that support is at 129-02, if that fails 128-13 should hold. If that gives way a slip to 128-03 is likely.

On the Upside: Resistance is at 130-03 and 130-13 , a close over 130-13 augurs for a test of 131-02.

Dec. SP500

On the DownSide, Support is at 1096 and 1090.60, under that 1082 offers good support. Below that support is at 1078.60 , day traders can buy at 1078.70 , put your own risk on it. Below that good support should appear at 1072.30 and 1068 An extended slip under 1068 augurs for a test of 1063 then 1058 to 1057.

On the Upside, Resistance is at 1101 and 1104.30. Day traders can sell at 1104.30 and put your own risk on it.. A close over 1104.30 augurs for a likely test of 1110.50 and 1115.50. 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 8484 and 8444 to 8423 and 8406 to 8390, below that support should appear at 8314 to 8300, Where it should hold basis the close.

Resistance should first appear at 4499. Beyond that resistance is at 8560 and 8584

then 8668 and the 8683 to 8691 region . Beyond that 8762 to 8777 should cap a rally for now.

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

Happy Trading

Bill

10/30/98 6:55:20 AM

Copyright@1998 FuturesCom Investment Publications

All Rights Reserved

FuturesCom is Not Responsible for Transmission Errors and Omissions.

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.