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.
Thursday March 5th 1998
5:04 AM
On the Frenzied Forex Front
March J-Yen
Support is at 7868 and 7836 Resistance is near 7902
and 7939 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 6764 to 6755. Below that traders should
Go long for a bounce at 6741. Risk 20 pts. Resistance should begin at
6809 and 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.
Traders should continue to expect a weaker Dollar
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 5492 then 5474 and It should hold. Resistance
is near 5516 then 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 7835 and 7790 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 616 below that 600 Resistance is 646
and 661
Buy this dip
The Exciting Energies
April Crude Recommended Positions, long at 1603 and 1535 Hold
Early support is at 1532 and 1505 /1506, day traders can buy
at 1507, risk 20 pts. Resistance should first appear near 1542
and 1577
A close today over 1535 is friendly
April Unleaded Gas Recommended Position long at 5260 Hold
Support should appear near 4985 Resistance is near
5045 and 5085 then 5165.
Friendly, Buy dips.
A close over 5035 augurs for a test of 5345.
April Heating Oil Recommended Position Long at 4445 and 4320 Hold
Support is 4255 and 4115 Resistance near 4370 and
4460
A close over 4320 is friendly and augurs for a trade
to 4490.
The ‘Grande’ Grains
May Soybeans
Support is at 644 1/4 and 641.
Resistance is near 656 1/2 and 658 3/4
A close over 657 augurs for a test of 672.
July Beans Recommended Position: Long (2) at 663
Support is at 655 3/4 and 648 3/4
Resistance is 661 to 662 3/4
A close over 661 1/2 is friendly
May Soybean Meal
Go long May Meal on a close over 182.5
Support is 177.5 and 175 Resistance is near and 181 and
182.
May Soybean Oil
Support is at 2614 and 2607 Resistance is near
2661 and 2698 beyond that 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 274 3/4 and 273 1/4 Resistance is near
278 3/4
May Wheat
Support is near 332 1/4 Resistance is near 338 ,
a close over 338 augers for a test of 344
July Wheat Long (2) at 342
Support is at 341 3/4 Resistance is near 347 a close over augurs for
a ‘pop’ to 353
Be long
The Satisfying Softs
May Cotton
Support is 6741 under that 6709
Resistance is 6790 and 6810 beyond that 6890
May Sugar
Nearby support is 971 and 946
Resistance is near 1011 and 1026
May Coffee Recommended Position Long at 156.90 HOLD
On the Downside, Good Support is at 152.10 Hearty day
traders can buy at 152.10 for a Bounce , judge your own risk.. A
close over 152.25 is friendly. Below that 150.50
should hold If the Coffee Cools off and trades down to 141.70 Traders
should go long and hold.
On the Upside, Early resistance is near 153.90 to 154.40
and 156.90 an extended trade over 152.50 augurs for a test
of 156.90 then 16150 where resistance remains beyond that 165.50
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
A close over 154.45 augurs for a higher mkt.
Pick Your Poison and Keep a Steel 'Cup’ handy.
May Cocoa
Resistance is 1634 Beyond that 1647/1648 region offer's resistance
and should be considered critical. Day Traders can sell at 1655 and
risk 20 pts. Support is near 1605 then 1555.
The Lively Livestock
April Live Cattle
Support is 6452 under that support should appear
near 6392 with 6330 under that.
Resistance is near at 6532
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 4835 then 4857 and 4882 Support is near 4782 and
4717 to 4687
A close over 4835 is friendly.
June Hogs Recommended Position Long at 5642
Support is near 5662 and 5642 day traders can buy at 5662 for
a bounce, risk only 40 pts.
A close over 5712 augurs for a test of first 5757 then 5837.
Eventually a move to 6100 is likely as the season progresses
Recommended Spread Position long 2 June Short 2 Oct. at 290 over .HOLD
March Bellies Recommended Position Long at 4612
Hold
May Bellies
Support is near 4145 and 4077 day traders can buy at 4082
for a bounce. Below that Traders should buy at 4002 for the
‘Pull’ Under that support should be evident near 3990
Resistance is near 4370, traders 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 119-09 and 118-27 with 117-20 below that 118-12 a test of
117-27 is likely if it fails again. Resistance is near 119-27
More resistance is 120-27
March SP500 Recommended positions Short at 1023 and 1035.80
On the Downside, Support is at 1036 and 1032 . However a Close
under 1042.20 indicates a test of 1024.80 to 1023.30 which is critical
and should hold.
On the Upside, Early resistance is at 1042.20 where day traders
can sell and your own risk on it. Beyond that 1047 offers resistance as
does 1054 then 1058,sell at 1058 and risk 600 pts. Beyond that 1063.4
should cap any rally with 1068 beyond that.
* The close under 1049.20 was negative, traders went short should be out of part looking to sell rallies.
The Dow Jones Industrial Average
Initial support at 8527 and 8499 then 8492.70 to
8484. Beneath that 8439 is critical basis the close. Beneath
that 8396 should hold if upside momentum is going to continue. For
today Resistance is near 8560 beyond that 8628 and should cap
the rally.
A close under 8527 is negative.
This Newsletter is Dedicated to Risk, Without Risk there is no Reward.
Happy Trading
Bill
Thur March 5th 1998
7: 01 AM
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