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.
 

Monday, March  2nd, 1998
6:31 PM
On the Frenzied Forex Front

March J-Yen Recommended Position Long at 7963 and  7886
Support  is at   7963 under that 7954 and 7939
Resistance is near 7979 and 7992 , beyond that 8019 beyond that 8063 and 8122 If a sharp rally occurs Traders can go short at 8223 for a turn lower, risk  50 pts basis the close.
 

March Swiss Franc
Support should appear at 6822 , below that 6808 should hold.  A close under 6781 augurs for a test of 6764 to 6755. Below that traders should  Go long for a bounce at 6741. Risk 20 pts. Resistance should begin at  6850 to 6858 beyond that a test of 6871 is likely which should yield a ‘pop’ to  6906 to 6919 then 6954.  A close over 7003 augurs for a Thrust to 7074.

Hearty Traders should Buy at 6808 for a day trade,

Traders should continue to expect a weaker Dollar over the next two weeks

March British:
Support is at 164.20 under  that 163.74 and 163.20  Below that Support is near 161.50 to 160.90. Traders should buy at 161.50 for a bounce, risk a trade under  160.80. Resistance is at 165.20 then 165.50 and 167.30.   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.

March D-Mark Recommended Position Long at 5578
Early support is at 5509 and 5492 then 5474 and It should hold.  Resistance is near  5553 and 5579  Beyond that 5606 and 5640 offer's  resistance. Traders should sell at 5640 for a quick 'day' turn lower, stay tuned.

Trade Accordingly

March Canadian Dollar
Support is near the 7002 to the 6990  region. Traders can buy at 6990, risk a close under 6970 for three days in a row. Resistance is near 7074 and 7088.  Traders should short at 7086 for a turn lower, risk a close over 7089 for three days in a row.

Precious Metals
April Gold
Support is near  294.3 and 291 to 288. Position Traders should weakness at 288.5 and Hold. Resistance is 301.5  and  303.5  traders can go long on a close of 303.6 or higher. Additional Resistance is near 310.7, traders can short at 311.5 for a quick turn only, risk a trade over 314.5.

Friendly, Buy Dips.

May Copper
Support is at 7890 and 7760  below that 7490 Resistance is at  8070, and 8300  above that traders should sell short at 8480 risk a close over 8500 for two days in a row.
April Platinum
Support is near  383  Below that support should appear  near 374.0  and 368 Buy at 369 for a 2- day bounce, risk  only  $ 4.00.
Decline.  Nearby resistance is  393. A close over 395 augurs for a test of  399 to 404.
Long Term Friendly,

May Silver
Support is near 649.5 and 633 , below that 624 to 621
Resistance is near  664.5  and 689 to 694
Be Long
 

                             The Exciting Energies

April Crude Recommended Positions, long at 1603 and 1535 Hold
Early support is at  1527 and 1509 under that 1502 should hold.  Resistance should first appear near 1552 /1563  then 1577

A close today over 1553 is friendly

April Unleaded Gas Recommended Position long at 5260  Hold
Support should appear near  5072 and 4995   Resistance is near  5135 and 5165.
Friendly, Buy dips.
 

 A close over 5135 augurs for a test of 5345.

April Heating Oil Recommended Position Long at 4445 and 4320 Hold
Support is  4235 and 4115    Resistance near 4370 and 4415
A  close over  4370 is friendly  and augurs for a trade to 4490.
 
 

The ‘Grande’ Grains

May Soybeans
Support is at  656 1/4 and 653. Below that 642 .
Resistance is near 670 1/4 to 673 3/4.

July Beans Recommended Position: Long (2) at 663
Support is at 661 3/4 and 658 3/4 below that 654 3/4
Resistance is  672 to 675 3/4

A  close over 662  maintains a friendly posture

May Soybean Meal
Go long May Meal on a close over 182.5
Support is 177.2 and 175.8.  Resistance is near 179.5  and 181.

May Soybean Oil
Support is at  2654 and 2607  Resistance is near  2707 to 2713 Traders  should  sell at 2757, risk a close over 2798 for two days in a row.

May Corn Recommended Position Long at 271
Support is at  272 Resistance is near   276 1/4 to 277
 

May Wheat
Support is near 337 3/4 and  331 3/4
Resistance is near  343 , a close over 344 augers for a test of 349 3/4 and 355

July Wheat  Long (2) at  342
Support is at 346 3/4 and  340 3/4
Resistance is near 352 and 358 3/4 to 360

Be long
 

                               The Satisfying Softs

May Cotton  Recommended Position short at 6825
Support is 6775 and 6735 under that 6675
Resistance is  6825 and  6835 beyond that 6875

May Sugar
Nearby support is 993 and 968
Resistance is near 1004 and 1044
 
May Coffee
On the Downside, Support is at  156.95 Aggressive Traders should have buy orders waiting at  156.90, initially plan a risk on a close under 153.50
If the Coffee Cools off and trades down to 141.70 Traders should go long and  hold.
On the Upside, Early resistance is near 159.65 and 161.95  an extended trade over 162.85 augurs for A test of 164.20 and 165.50 where resistance remains beyond that 167.00 offers   Resistance. Above that 171.70 and 173.10  to 173.80, beyond that 176.45 should trade.

Still Friendly,  Traders Who have Ice Water in their Veins should buy this dip for a turn higher by Wed.

A close over 159.90 augurs for a higher mkt.
Pick Your Poison and Keep a Steel 'Cup’ handy.
 
May Cocoa
Resistance is 1615, above that  a trade to 1642 /1658  should occur. Where 1647/1648 should be considered critical. Day Traders can sell at 1647 and risk 20 pts.
 Support is near 1601 to 1598 with  1548/ 1547 below that.
 

                        The Lively Livestock

April Live Cattle
Support is 6472 to 6462 under that  6387 to 6350  below that 6330.
Resistance is near at 6537 and 6612
Traders should go long if a close over 6545 occurs.

April Hogs  Long  5145 (5015 and 5430 result of unwinding the spreads.)
Resistance is at 4887 and 4922
Support is near 4867 to 4857 /4845. Below that 4787 to 4772  should hold basis the close.
 

June Hogs
Support is near 5745 and 5670  to 5642  where position traders should Buy for the ‘Pull’ (New Trade) based on the Special Report.  Resistance is near 5845  and 5870.
A close over 5845 augurs  for a test of 6022.
 
 

Recommended Spread Position long   2 June  Short 2 Oct. at 290 over

March Bellies Recommended Position Long at 4612
Hold

May Bellies
Support is near  4065, below that  Traders should  buy at 4002 for the ‘Pull’  Under that support should be evident near 3990 to 3932. Below that 3867.
 Resistance is near 4187. a close over 4192 augurs for a test of  4237 and 4257  Beyond that 4395 offers resistance

'From the Frying Pan into the Fire'

             The Sensational Stock and Bond Markets
 

June  30 Yr. Bonds
Most Traders though I was Nut when I said June Bonds would move towards 119-00 and 118-22 .. It's now likely..
Support is 119-08  an eventual test of 118-24 is likely. Resistance is near 119-14 and 119-21 to 119-25 More resistance is 120-16  then  120-25

A close over 119-25 is mildly friendly..

March SP500  Recommended positions Short at 1023 and 1035.80
On the Downside, Support is at  1048.80 and 1045.00 beneath that  1041.80 offers good support. Below that 1036 and 1032 offer support.  However a Close under 1041.80 indicates a test of 1024.80 to 1023.30 which is critical and should hold.
On the Upside, Early resistance is at 1050.50 and 154.60 more is located at 1057.90 and  1058 where  traders can sell at 1058, risk 600 pts. Beyond that 1063.4 should cap any rally with 1068 beyond that

* A close under 1048.80 is negative, if this occurs traders who have 'Ice Water Running through their Veins'  should Go Short or Add.

The Dow Jones Industrial Average
Initial support at  8518  and 8499 then  8492.70 to 8484. Beneath  that 8476.8 . 8492 is  critical basis the close. Beneath  that 8445 or 8396 should hold  if upside momentum is going to continue . For today Resistance is near  8560 to 8589 and 8591. Beyond that 8620 to 8628 offer's resistance

A close under 8492 is negative.

This Newsletter is Dedicated to Risk, Without Risk there is no Reward.

Happy Trading

Bill

Monday March 2nd 1998
8:01 PM
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