FuturesCom Investment Publications
Morning Comments (MC) April 21, 1999
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" It isn't as important to buy as cheap as possible as it is to buy at the right time."
- Jessie Livermore-

Wed April 21, 1999
4:45 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8441 and 8406 to 8391. Below that 8352 should hold.

Resistance is at 8484 to 8499 and 8560 to 8589, a close over 8589 augurs for a test of resistance near

June D-Mark

Support is at 5438 to 5418 where BW traders can buy at 5425 for a bounce, risk a close under 5418. Below that 5356 to 5344 should contain a decline in the near future.

.

Resistance is at 5492 to 5504. A close over 5505 is friendly and augurs for an eventual test of 5553

June Swiss

Support is at 6655 then 6616 to 6612

Resistance is at 6688 and 6707 to 6716 and 6741 .

June British Pound

Support is near 1.6090 and 1.6046 then 1.5936

Resistance is at 1.6150 and 1.6206.

June Canadian Dollar

Support is at 6719 and 6690.

Resistance should appear at 6740 and 6755 then 6790.

Stay tuned for Forex flashes

Precious Metals

Aug. Gold

Support is at 285.50, below that 283.30 should hold.

Resistance is at 288.9, a close over is friendly and indicates a likely test of 292.8

Trade accordingly

May Copper

Support is at 6855 and 6730 then 6675

Resistance is at 6925 and 6980. Beyond that resistance is at 7020 and 7120 to 7160

July Platinum

Support is at 363 and 359.

Resistance is at 369 and 371.

Hold.

May Silver

On the DownSide: Support is at 508. Day traders can buy at 508, risk 10 cents.

Below that buyers should appear near 502 and 499.5

On the Upside. Resistance is at 516.5 and 521. Beyond that a test of the 539.5 to 545 region is likely.

The Exciting Energies

June Crude

Nearby Support is at 1724 then 1696 to 1689

Nearby Resistance is at 1749 and 1779 to 1789. Beyond that a test of 1809 to 1828 is likely.

June Unleaded Gas

Nearby Support is at 5225 and 5125 then 5055 to 5035.

Resistance is at 5295 and 5315. Beyond that resistance is at 5445

June Heating Oil

Support is at 4240 and 4185 which should contain a decline.

Resistance is at 4345 A close over 4511 is friendly and augurs for a test of 4580.

The Grand Grains

July Soybeans

Support is at 500 1\2 and 497 3/4. Day traders can buy at 500 3/4, risk 10 cents.

Resistance is at 505 beyond that sellers should appear near 506 1/2
and.the 518 1/2 region

July Soybean Meal

Support is at 135.10 and 133.3 below that 130.5 to 128 should hold.

Resistance is at 138.4 and 141.0.

July Soybean Oil

Support is at 1996 to 1982 and 1953.

Resistance is at 2055 and 2080 to 2088.

July Corn

Support is at 228 and 223

Resistance is at 231 to 233

July Wheat

Support should appear near 268 and 262.

Resistance is at 274 and 277

The Satisfying Softs
Note:
Traders should Roll any Positions in May Cotton and May Coffee to July MOC

July Cotton

On the Upside resistance is at 5875 and 5905 then 5985 to 6005

On the DownSide support is at 5810 and 5755 to 5740 then 5705

July Sugar

Support is at 471 to 468

Resistance is at 489 a close over 490 is friendly and augurs for a test of 507 to 515.

July Coffee

On the DownSide, support is at 100.80 and the 100.50 to 100.00 region. Under that 9835 should contain a decline.

On the Upside, Resistance is at 102.60 and the 103.20 to 103.60 region.

A close over 103.60 is friendly and augurs for a test of 105.80

July Cocoa

Support is at 1085 and 1078 to 1068

Resistance is at 1096 to 1101 and 1128 to 1135.

The Lively Livestock

June Cattle

Support is at 6367 and 6332, below that 6297 should hold.

Resistance is at 6427 and 6442.

June Hogs

Support should appear near 5587 and 5522 then 5492

Day traders can buy at 5522 and hold for higher prices.

Resistance is at 5607 and 5640 to 5652 and 5687.

From the Frying Pan into the Fire--

May Bellies

Support is at 5457 then 5357 to 5342 and 5307 Below that support is near 5282 then 5257 and 5187.

Nearby Resistance is at 5492 then 5552 to 5577 and 5607 Beyond that sellers should appear near 5757.

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

June Bonds

On The DownSide nearby support is at 121-22 and 121-13 .
Under that support is at 120-12

On the Upside: Resistance is at 122-12. Beyond that resistance is at

122-22 and 123-11.

June SP 500
Support is at 1310 and 1307 to 1304 under that 1294.50 and 1289.90 to 1289 offers good support . Aggressive Day traders can buy at 1289 for a bounce, stay tuned and put your own risk on it.. However a close under 1289 is negative and augurs for a test of the 1274 to 1268 region.

Resistance should appear near the 1321.80 to 1322.70 . Day traders can sell at 1322.00 for a quick turn lower , stay tuned... Beyond that resistance is at 1331.80 to 1334. Above that sellers should appear near 1340 and 1346.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support is at 10,360 to 10,320 and 10,280 to 10,260, under that support is at 10,136 to 10,104.

Resistance is near 104,70 and the 10,580 region. Beyond that sellers should appear near 10,640 to 10,680 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 21 1999

5:35 AM

B W Recommended Open Pos.

Long June Swiss at 6782
Long July Silver 489.5 and 503.5
Long Aug. Gold 283.90
Long 2 July Platinum at 363

Long May Cotton at 6065 and 5965
Long June Cattle at 6477 and 6422

Long July Wheat at 295 3/4 and 304

Long July Beans at 480

Long May Corn 227 1/2

Long May Coffee at 105.10

Long 2 July Sugar at 517

Long July Cocoa at 1129
Long June D-marks at 5492
Long June Unleaded Gas at 5320

Long May Coffee at 102.10

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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.