FuturesCom Investment Publications
Morning Comments (MC) April 13, 1999
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"Among the hazards of speculation the happening of the unexpected -I might even say the
unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk--"
Reminiscences of a Stock operator.

Monday April 12, 1999
10:30 PM 

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8328, where day traders can buy for a turn higher under that support is at 8314 to 8300. Below that 8223 to 8194 should hold.

Resistance is at 8352 and 8391 then 8406 to 8422.

A close over 8422 is friendly and augurs for a touch of 8484 to 8499. Above that

resistance is at 8560 to 8589 and 8629.

June D-Mark

Support is at 5542 to 5535, day traders can buy at 5542 and hold for higher prices under that support is at 5504 and the 5492 to 5485 region. BW Traders can buy at 5492 for a good two to three day turn higher, risk a close under 5454 for three days in a row.

Resistance is at 5553 and 5571. A close over 5577 is friendly and augurs for an

eventual test of 5640 to 5653 beyond that resistance is at 5671 and 5682.

BW Traders should go long if a close over 5577 occurs.

 

June Swiss

Support is at 6758 to 6741 region. Under that support is at 6688 to 6659.

Day Traders can buy at 6742 for a bounce...

Resistance is at 6792 then 6809 and 6836 to 6838. A close over 6836 is friendly and augurs for a test of 6906 to 6919.

BW Traders should go long if a close over 6836 occurs.

 

June British Pound

Support is near 1.6044 to 1.6022 and the 1.5936 region. BW Traders can buy at 1.5936 and hold for higher prices. Below that 1.5760 to 1.5690 should contain weakness.

Resistance is at 1.6120 to 1.6150 Beyond that resistance is at 1.6224 and 1.6286. A close over 1.6286 augurs for a test of 1.6420 and 1.6486. A close over 1.6420 is friendly and augurs for a test of 1.6550

 

June Canadian Dollar

Support should appear at 6686, day traders can but at 6686 and risk 35 pts under that support is at 6675 to and 6659. A close under 6655 is negative and augurs for a test of 6625. BW Traders can buy at 6625 for a bounce, risk a close under 6591. Below that support is at 6577 and 6550.

 

Resistance should appear at the 6719 to 6721 region. Beyond that

BW Traders can sell at 6741 for a turn lower, risk a close over 6755 for three days in a row. Above that sellers should appear near 6809 to 6836.

Stay tuned for Forex flashes

 

Precious Metals

Aug. Gold

Support is at 285.6 and the 281 region.

Resistance is at 289.5 A close over 289.5 is friendly and augurs for a test of the 295.60 region.

Trade accordingly

May Copper

Support is at 6290 and 6255 aggressive BW traders can buy at 6290 and risk a close under 6255 for three day in a row.

Resistance is at 6405 and the 6495 region. Beyond that resistance is at 6605 to 6680..

BW Traders should go long if a close over 6510 occurs.

July Platinum

Support is at 359.5 to 357 and 350.5 to 349 under that 344 should hold.

Resistance is at 366 to 368.5 and 373 to 375.

Hold.

May Silver

On the DownSide: Support is at 486.5 and 483. BW and Day Traders should buy at 483 and hold for higher prices. Under that support is at 481 to 477.5 and 472.

On the Upside. Resistance is at 490.5 and 495 A close over 495 augurs for a test of 502. Beyond that resistance is at 518.

BW Traders should go long if a close over 504 occurs.

July Silver
Support
 is at 493.5 and 488.5, BW traders can buy 489.5 and Hold.

Resistance is at 497.5, a close over 497.5 is friendly and augurs for a test of 529.,

BW Traders should go long if a close over 497.5 occurs.

The Exciting Energies

June Crude

Nearby Support is at 1639 and 1619 to 1609. Day traders can buy at 1619 under that BW traders can Buy at 1615 and hold for higher prices. Below that buyers should appear near 1578 to 1569. BW traders can buy at 1578, risk close under 1560 for three days in a row.

Nearby Resistance is at 1664 to 1674 . Day traders can sell an early rally at 1669, for a quick turn lower risk 40 pts. Above that resistance is at 1689 to 1702. Beyond that resistance is at 1720 and the 1731 to 1738 region.

June Unleaded Gas

Nearby Support is at 5110. Day traders can buy at 5110 , risk 100 pts. Under that support is at 5080 and 4995 to 4970 . BW Traders can buy at 4975 and hold for higher prices. Under that buyers should appear near 4915 and 4785.

Resistance is at 5280 to 5295. Day traders can sell at 5295 for a turn lower , risk 100 pts. Beyond that resistance is at 5345 to 5356 and 5418. A close over 5430 is friendly and augurs for an eventual test of 5645 to 5653.

BW Traders should go long if a close over 5315 occurs.

June Heating Oil

Support is at 4243. Below that support is at 4175 to 4163. Under that Buyers should appear at 4120 to 4110 which should contain a decline.

Resistance is at 4304 to 4315 then 4390 and 4415 to 4450. A close over 4450 is friendly and augurs for a test of 4580 .

 

 

The Grand Grains

May Soybeans

Support is at 470 1/2 to 468 region. Under that 463 should hold.

Resistance is at 482 to 484 a close over 484 is friendly sand augurs for a test of 492.

Beyond that resistance is at 496 and 499.

July Soybeans

Support is at 486 1/2, day traders can buy at 486 3/4 under that support is at

482 and 474

Resistance is at 492 1/2 and 496 beyond that sellers should appear near 500 1/2 .

A close over 500 1/2 augurs for a test of 513 to 516.

July Soybean Meal

Support is at 134.3 and 132.60 below that 130.5 to 128 should hold.

Day traders can buy at 133 for a turn higher, risk $ 4.00

Resistance is at 136.8 and 138.4 then 141.

July Soybean Oil

Support is at 1874 then 1869 to 1858 and 1851, day traders can buy at 1858 and hold for higher prices...Under that 1822 to 1808 should hold

Resistance is at 1902 and 1909 beyond that sellers should appear near 1951 to 1968 However a close over 1953 is friendly and augurs for a test of 1988 to 1996.

July Corn

Support is at 215 3/4 Below that 210 should contain a decline in the near term.

BW Traders can buy at 210 and hold for higher prices.

Resistance is at 224 3/4 and 226,

July Wheat

Support is at 262 and 258 1/2 under that 255 3/4 should hold. .

Day traders can buy at 262 1/2 , risk 8 cents.

Resistance is at 270 3/4 to 272 3/4 and 274. Day traders can sell at

272 3/4 , risk 8 cents

BW Traders should go long if a close over 279 occurs.

 

The Satisfying Softs

May Cotton

On the Upside resistance is at 6070 then 6121 and 6170 , a close over 6170 is friendly and augurs for a test of 6265.

On the DownSide support is at 5965. BW Traders can buy at 5965 and hold for higher prices. Below that support is at 5935 and 5880.

July Sugar

Support is at 493 to 490 and 482 then 473.

Resistance is at 500 and 513. A close over 500 is friendly and augurs for a test of 526 then 533 to 538.

May Coffee

On the DownSide, support is at 9735 to 9700 and 9680, under that support is at

95.80 to 9550 and 9450. Below that 9170 to 9155 should hold.

On the Upside, Resistance is at 9830 and 9875 then 100.00 to 100.75 . A close over 100.50 augurs for a test of 101.90 and eventually 103.20 to 103.60 Beyond that resistance is at 105.10. to 105.80.

BW Traders should go long if a close over 100.50 occurs.

July Cocoa

Support is at 1129 and 1118 . Below that 1085 offers support

Resistance is at 1136, a close over 1136 is friendly and augurs for a test of the 1164 to 1169 region.

The Lively Livestock

June Cattle

Support is at 6497 to 6477 BW Traders can buy at 6477 and hold for higher prices, under that support is at 6427 to 6417. BW Traders can buy at 6422 , risk a close under 6337 for three days in a row.

Resistance is at 6572 and 6627 to 6642, a close over 6677 is friendly and augurs for a test of 6812 to 6837 and 6907.

June Hogs

Support is at 5547 and 5512 Day traders can buy at 5547 and hold for higher prices under that support is at 5447 and 5402 BW traders can buy at 5442 and hold for higher prices.

Resistance is at 5607 and 5647 above that sellers should appear near 5747

From the Frying Pan into the Fire--

May Bellies

Support is at 5352 then 5287 . Day traders can buy at 5287 and hold for higher prices.. Below that support ids at 5232 and 5137.

Resistance is at 5532 and the 5587 to 5612 region Day traders can sell at 5587 for a turn lower, beyond that resistance is near 5652 region.

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 122-24 Below that support is at 122-06

and 121-27.

On the Upside: Resistance is at 123-06 to 123-08 and 123-27
then 124-06. to 124-13. Beyond that good sellers should appear near 124-27,

BW traders can sell at 124-27 risk a close over 125-05 for three days in a row. .

June SP 500
Support
is at 1369.20 and 1361.50 to 1360.90 , a close under 1361.50 is negative and augurs for a test of 1355.70 to 1353.20 and eventually 1346. Under that support is at 1340 then 1337 and 1334 to 1331 where it should hold. A close under 1334 is negative and indicates a test of 1322 and eventually the 1310 to 1304 region.

MC traders should go short if a close under 1`361.50 occurs

BW Traders should go short if a close under 1352.00 occurs.

Resistance should appear near the 1377, High Risk Day traders can sell an early rally at 1377 for a turn lower, put your own risk on it. Beyond that resistance is at 1383 and the 1386 to 1388.30 region which should cap a rally .

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 10,320 then 10,261.10 and 10,220 then 101,36 to 10, 104. A close under 10,261 is negative and augurs for a test of 10037 to 10021.

Resistance is near the 10363 to 10,380 region. Beyond that sellers should appear near 10470 and the 10,580 region which should cap a rally.

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

Happy Trading

Bill

April 12 1999

11:21 PM

B W Recommended Open Pos.

Long June Yen at 8599 and 2 at 8391
Long June Swiss at 6782
Long June British pound at 1.6150 and 1.6126
Long May Copper at 6365
Long May Silver at 490.5

Long Aug. Gold 283.90
Long 2 July Platinum at 363

Long May Cotton at 6065
Long June hogs 5382

Short June SP500 at 1319.80

Long July Wheat at 295 3/4 and 304

Long July Beans at 509 1/4, 494 and 480

Long May Beans at 486

Long July Bean oil at 1920

Long May Corn 227 1/2

Long May Coffee at 105.10

Long May Unleaded Gas at 5402 and 5005

Long June Heating Oil at 4240

Short June Bonds at 123-04

Long 2 July Sugar at 517

Long July Cocoa at 1129

MC Recommended Open Pos.
Short June SP500 at 1287.50

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