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.
 

Wed, March  4th, 1998
12:04 AM
On the Frenzied Forex Front

March J-Yen
Support  is at  7969 under that 7954 and 7939
Resistance is near 7992  and 8029 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 6811 , below that 6809 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  6836 and 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 6809 for a day trade,

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

March British:
Support is at 164.86 and 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 5504 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  295.3 and 291 to 288. Position Traders should weakness at 288.5 and Hold. Resistance is   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  7740 and 7705,  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   374.0  and 368 Buy at 369 for a 2- day bounce, risk  only  $ 4.00.
Decline.  Nearby resistance is  392 to 394 . A close over 395 augurs for a test of  399 to 404.
Long Term Friendly,

May Silver
Support is near 627 and 613 to 607 where day traders can buy at 609 and risk 10 cents. Resistance is near  646  and 653
Buy this dip
 

                             The Exciting Energies

April Crude Recommended Positions, long at 1603 and 1535 Hold
Early support is at  1505 /1506., day traders can buy at 1507, risk  20 pts.  Resistance should first appear near 1542 and 1577

A close today over 1542 is friendly

April Unleaded Gas Recommended Position long at 5260  Hold
Support should appear near  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 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  652 1/4 and 649.
Resistance is near 656 1/2  and  657 3/4

A close over 657 augurs for a test of 672.

July Beans Recommended Position: Long (2) at 663
Support is at 657 3/4 and 655 3/4
Resistance is  661  to 662 3/4

A  close over 661 1/2  maintains a friendly posture

May Soybean Meal
Go long May Meal on a close over 182.5
Support is 175.5 and 171   Resistance is near 177.8   and 181.

May Soybean Oil
Support is at  2611  and 2607  Resistance is near  2705 to 2711 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 3/4   Resistance is near   275 to 277 3/4
 

May Wheat
Support is near 338 3/4 and  332 1/4
Resistance is near  344 , a close over 344 augers for a test of 349 3/4 and 355

July Wheat  Long (2) at  342
Support is at 344 3/4 and  340 3/4
Resistance is near 354 and 359 to 361

Be long
 

                               The Satisfying Softs

May Cotton  Recommended Position short at 6825
Support is  6735 under that 6675
Resistance is  6780 and  6820 beyond that 6880

May Sugar
Nearby support is 972 and 942
Resistance is near 1001 and 1022
 
May Coffee Recommended Position Long at 156.90
On the Downside, Good Support is at  152.40, day traders can buy at 153.30 stop for a reversal, if elected, exit near 157.
A close over 152.50 is friendly.

If the Coffee Cools off and trades down to 141.70 Traders should go long and  hold.
On the Upside, Early resistance is near 155.25  and 156.90   an extended trade over 157.70 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 Thursdays open

A close over 155.50 augurs for a higher mkt.
Pick Your Poison and Keep a Steel 'Cup’ handy.
 
May Cocoa
Resistance is 1603, above that  a trade to 1638  should occur. Beyond that  1647/1648 region offer's resistance  and  should be considered critical. Day Traders can sell at 1647 and risk 20 pts.  Support is near  1574 then 1553.
 

                        The Lively Livestock

April Live Cattle
Support is 6465, day traders should buy with ‘Both hands’ at 6467, risk 50 pts under that  support should appear  near  6392  with  6330 under that.
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 4842 and 4872 Support is near 4777 and  4717

A close over 48454 is friendly.

June Hogs  Recommended Position Long at 5642
Support is near 5652, day traders can buy at 5657  for a bounce, risk only 40 pts.
A close over 5717 augurs  for a test of 5892. Eventually a move to 6100  is likely as the season progresses

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  4157 and 4077  below that  Traders should  buy at 4002 for the ‘Pull’  Under that support should be evident near 3990   Resistance is near  4370, trader should go long  on a close over 4435

'From the Frying Pan into the Fire'
 

             The Sensational Stock and Bond Markets
 

June  30 Yr. Bonds
Support is 118-11 and 117-26  an eventual test of 117-12 is likely. Resistance is near 119-02 and 119-12 beyond that 119-26   More resistance is 120-26

A close over 119-02 is mildly friendly..

Bonds now appear to heading towards 116-15 to 115-18

March SP500  Recommended positions Short at 1023 and 1035.80
On the Downside, Support is at  1054.30, an extended trade under  154 augurs for a test of 1049.20 and 1047.00 beneath that  1041.80 offers good support. Below that 1036 and 1032 offer support.  However a Close under 1047.00 indicates a test of 1024.80 to 1023.30 which is critical and should hold.
On the Upside, Early resistance is at 1058.10 where  traders can sell at 1058, risk 600 pts. Beyond that 1063.4 should cap any rally with 1068 beyond that.

* A close under 1049.20 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  8560 and 8522 to 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  8620 to 8628 and should cap the rally.

A close under 8510 is negative.

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

Happy Trading

Bill

Wed March 4th 1998
12: 41 AM

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