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.

Sunday, February 15, 1998
4:15 PM
 

March J-Yen
Nearby support is at  7995 then 7972 and 7954. Traders can buy for a position  at 7963. Risk  a close Under 7939  for three days in a row Below that 7923 and the 7868  to 7836 region should act as support.  If that fails traders should buy at 7777 for a ‘bounce’  risk 30 pts. Resistance  is near 8029 to 8044,  beyond that 8065 and 8095.
A  close over 8164 is bullish , traders should go long if that occurs.  Some sellers should appear near 8223 beyond that 8300 to 8314 should trade. If a sharp rally to 8526 ensues go short for a turn , risk a close over 8589 for three days in a row.

Near term a close over 8044 is friendly.
Eventually I see a test of 8800  in the June

Trade Accordingly

March Swiss Franc Recommended Position Long 6857
Support should appear at 6836 then 6824 to 6819  Day traders should buy at 6824 , risk a trade under 6803. Resistance should begin 6871 then 6921 to 6924. Day traders can sell at 6919 for a quick turn , risk only 25 pts.  Beyond that a test of  6954 is likely.
A  close over 6958  augurs for a 'pop' to 6990 / 7003 beyond that 7039 is likely.  A close over 7039 augurs for a Thrust to 7074. A  close over 7088 augurs for a 'pop' to 7120 and most likely the 7143 to 7170 region where resistance  should appear. A close over 7170 indicates a pop to 7243 to 7256.  Sell short at 7242 for position, risk a close  over 7257 for two days in a row.

* Traders should still expect a weaker Dollar  vs. The Swiss over the next few weeks

Buy Dips

March British: Recommended Position Long at 163.40
Support is near 163.20 and  161.50. Resistance is at 164.20 and 165.50 , a close over 163.68 augurs for a test of  165.50.   Beyond that sellers should appear near 169.60. Sell short at 169.40, risk a close over 169.96 for two days in a row.

Be long

March D-Mark
Early support is at 5475  and 5445 to 5430 . Buy at 5462 risk a close  under 5416  for three days in a row. Below that support should appear near 5423 where day traders can buy at for a bounce, risk a trade under  5402.
Nearby Resistance is at  5505 and 5525 . A close over 5558 is friendly , traders should go long if that occurs. Additional Resistance is near 5575 and 5581 which should trade shortly.   Beyond that 5608 and 5610 to 5628 offer resistance.  A close over 5610 augurs for a pop to 5640 / 5653. Traders should sell at 5653 for a quick 'day' turn lower, looking to cover back against 5610 ,stay tuned. However a close over 5653 augurs for a test of 5716 to 5729. A close over 5729 augurs for a test of 5781 to 5792  then 5812. Sell short for a turn lower at  5812, risk a close over 5855 for tow days in a row.

Trade Accordingly

March Canadian Dollar
Early Support is near the  6919 and 6906.  Traders should go long  at  6919 for a bounce , risk  a close under 6906  for three days in a row.
Resistance is near 6956 and 6990 to 7002  more should appear at 7039 and 7074 to 7088, sell short for a turn lower at 7081, risk a close over 7089 for three days in a row.
 

April Gold
Good Support is near 294.6 Below that buy weakness at 293.8  Below that 291 offers support. Resistance is  302.7 and 304.6 traders can go long on a close over 304.5  A close  over 305  augurs for a rally back to 311 where resistance remains.  Beyond that 316.4 / 318.9 to 321 or beyond to 331 is likely  to be tested.

March Copper
Support is at 7545, a close under augurs for a slip to  7345 . Resistance is at  7610 , a close over  is friendly  for a 'pop' to 7745. Beyond that 7802  and 7940 offer resistance , a close over 7945  indicates a rally back to 8050, above that traders should sell at 8300 risk a close over 8320 for two days in a row.

April Platinum
Support is near  387.0   and 377.0 , go long at 378.5, risk  a close under 373 for three days in a row. Below that support should appear  near 367. Buy at 369 for a 2- day bounce , risk  a close under 358. Resistance is at 388.4 and 391 beyond that 397

A close 392  augurs for a test of  405

Friendly..
 
March Silver
Early support is at 703.5 Below that support should appear at 688 then  663.5. Below that
Go long March Silver at 655 for a bounce, risk 10 cents.
Resistance is near  the 717 to 723 region . Beyond that  743 and 758

A close over 743 augurs for as test of 774  to 777. Beyond that 812 should trade.

March-Unleaded Gas Recommended Position Long at 5060
Good support should appear near 4925 to 4915 below that 4885 should hold,. Resistance  should raise it's head at 4985,  a close over a close over 4990 augurs for a trade to 5115.
 
March Heating Oil Recommended Position Long at 4585
Resistance is near 4507, a close over suggests higher prices.
Support is  4438 /4425   and 4390 under that 4315 should hold.
 

                              The ‘Grande’ Grains

March Beans: Recommended Position Long at 677 3/4
Early support is  673 3/4 to 672 and 670. Day traders should buy at 672 1/4 , risk  8 cents.
Below that  667 offers support.
 Resistance is 680 3/4  and 684 1/4. Above that 687 689 offers resistance .

Long Term Traders should start to  Buy July Beans in this region
July Beans have support at 684 and 680 to 678. Resistance is near 692 to 694.
And 701.

March Soybean Meal Recommended Position Long at 197.50 and 194 risk a close under 188.3 today only.
Support should appear is at 188 and 187  Resistance is near 191. However a close over 190.9  is friendly for a eventual test of 195

March Soybean Oil
Early support is at 2631 below that 2616  Resistance is near  the 2660 and 2677 . Beyond that  2690 offers good resistance. A close over 2660 augurs for a rally to 2690.  Beyond that  Traders should sell at 2757, risk a close over 2776 for two days in a row. Beyond that 2829 to 2849 should cap a rally.

March Corn
Support is should appear near  266. 3/4  Buy at 265 risk a close under 261 for three days in a row. Resistance is near the 271 1/2  and 272 1/2  region . A  close over 273   augurs for a test of 276.

March Wheat Long at 331 3/4
Support is at  327 3/4 to 323 and should be considered a buying region. Go long at 326 1/2  and hold. Resistance is near   333 1/4 a close over 334 augurs for a trade to 339 .

Trade Accordingly

                               The Satisfying Softs

March Cotton
Early Support is at  6567, buy at 6568 a close under 6508 for three days in a row. Resistance is at  6830. Traders should sell short at 6830, risk a close over 6890.

Long Term Friendly on Dips.

March Sugar
Nearby support is 1097 more  Support should appear near 1078 .  Resistance is near  1102 and 1118 .  A close over 1118 augurs for trade to 1133.

March Coffee Recommended Position Long at 176.50 and 169.60
On the Downside early support is at 167.15 then 165.50 and 164.65, if that fails a trade to the 163.90/ 163.20 region is likely. Below that  161.50 and 160.90 to 159.40 offer support . Traders should go long at 159.40 and  hold.
On the Upside, resistance is near 169.65. However  a close over 168.80 augurs for a test of  174.10 and 175.40 , beyond that 177.70 and 178.00, above that 178.90, an extended trade over, or close  over 179.40 augurs for a rally to 180.40  with a likely test of 181.40 and 182.20 where good resistance remains. Above that  184.30 to 186.50 should cap a rally for a bit. Beyond that  Traders should sell at 194.60 risk a close over 195.30. for two days in a row. More sellers should appear near 198.20 and 199.60.

Keep a Steel 'Cup’ handy

Friendly..

May Cocoa Recommended Position Long at 1554. Traders should protect the position today with a stop close only at 1526.

Early resistance is  1554 /1569 to 1576 , above that 1579 to 1588. Support is near 1535 to 1529  More support should appear at 1496

A close  over 1569 augurs for a rally to  1579  and 1588.
 

                                 The Lively Livestock

April Live Cattle
Support is 6782 and  6762, below that day traders can buy for a bounce at 6712 , risk 20 pts.  Resistance is near at  6832  and 6857

Buy Dips.

April Hogs Recommended Position Long at 5557 and 5440
Traders should risk a close under 5332 for three days in a row on all positions.
Traders should exit 1/2 of Positions at 5502 MIT Today only.
Early Resistance is at 5485 and 5532  beyond that 5582 offers resistance
Support is near 5435  and 5387

A close over 5435 maintains a  friendly posture  for a trade to 5532.
 

March Bellies Recommended position Long at 4612.
Support is near 4582 and  4447. Resistance is near resistance is near 4707/ 4717  and 4822.
 -----‘From the Frying Pan into the fire’------

 
             The Sensational Stock and Bond Markets
 

March  30 Yr. Bonds
Near Term support  is at 121-23 and 121-19 , however a  close under 121-23  augurs for a slip to the 120-23 to 120-18 region. Beneath  120-18 support should appear near 119-24 to 119-18.  Under that  traders should buy at 119-00, risk a close under 118-20 for three days in a row. Below  that  117-11 should hold, buy at 117-11 for a bounce, risk a close under 116-20 for  two days in a row. Resistance is at  122-04 and 122-18 to 122-23 traders should sell at 122-18 risk a close over 122-24 for two days in a row.
Beyond that a trade to 123-29 is likely , sell at 123-29 and hold.
 

March SP500 Short at 1023.00
On the Downside, Support is near  1019.70 and 1018.40 below that  1013.60 / 1012.00 region and 1010.4. Below that 1008.90 and the 1007.50 /1007.10 region  offer support.  A slip under 1007.10 augurs for a trade to 1009.30 and the 1003.70/ 1003.40 region  with 1002.10 below that. Failure of 1002.10 basis the close indicates a  decline to 997.90. Below that  993.70 to 992.10 and 987.90 offer support as does 986.00.

On the Upside, early Resistance is at  1024.50 then 126.20  and 1030.90  to 1032.0. Above that  1036.0 should cap this current rally, traders should sell at 1035.80 and hold. Risk a close over 1036.00 for two days in a row. Beyond that 1047 is likely with 1058 and 1068 beyond that.

Hearty day traders can sell at 1024.90  for a  turn lower,  risk 300 pts. And take profits at your own discretion.

The Dow Jones Industrial Average
Initial support is at 8366 then 8352 to 8338 and 8314 and 8300. 8307 is critical basis the close. In addition  a close back under 8300.00 augurs for a pullback to 8259 to 8252. Below that    8223 to 8194 offer support . Below that  8164 then 8134 to 8119.
Resistance is near 8391 to 8406. Beyond that 8445 and 8484 offer resistance.

Happy Trading

Bill

02/15/98 8:02 PM

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