FuturesCom Investment Publications
Morning Comments (MC) April 27, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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"A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory. "
-Reminiscences of a Stock operator-

Tuesday April 27, 1999

6:00 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8407 to 8399 /8385 BW Traders should go long at 8407 and hold for higher prices. Day traders can buy at 8399, risk 60 pts. Below that 8314 to 8300 should hold.

Resistance is at 8444 to 8456,a close over is friendly and augurs for a touch of the 8484 to 8499 region. Above that resistance is at 8560 to 8589 and 8629.

BW Traders should go long if a close over 8444 occurs.

June D-Mark

Support is at 5430 to 5418 and 5410. A close under 5418 augurs for a test of 5356 to 5344,

Resistance is at 5475 and 5491 to 5504. Day traders can sell at 5491 , risk 20 pts. Beyond that BW Traders can sell at 5555 and risk a close over 5577 for three days in a row.

June Swiss

Support is at 6621 and 6591 to 6577, aggressive BW traders can buy at 6591 for a turn higher, risk a close under 6577 for three days in a row. Below that support is at 6540 and the 6509 to 6482 region.

Resistance is at 6673 and the 6693 to 6707 region Day traders can sell at 6693 , risk 30 pts. A close over 6707 is friendly and augurs for a test of 6741 to 6755, beyond that resistance is at 6809 to 6836.

June British Pound

Nearby Support should appear near 1.6090 to 1.6062. Under that support is at 1.5936.

Resistance is at 1.6150. A close over 1.6150 is friendly and augurs for a an eventual test of 1.6224 and 1.6286.

BW Traders should go long if a close over 1.6150 occurs

June Canadian Dollar

Support should appear at 6741. A close under 6741 is negative augurs for a test of 6673. BW Traders can buy at 6673 for a bounce, risk a close under 6622.

Resistance should appear 6809 to 6836.

Stay tuned for Forex flashes

 

Precious Metals

Aug. Gold

Support is at 282.3, BW traders can buy at 282.3 for a turn higher risk, a close under 281 for three days in a row

Resistance is at 287.4 and 288

Trade accordingly

July Copper

Support is at 6935 to 6905. BW Traders can buy for a turn at 6935, hold for higher prices. Under that support should appear near 6835 to 6810. Traders can buy at 6835, risk a close under 6740 for three days in a row.

Resistance is at 7035 and 7140 to 7170. A close over 7170 is friendly and augurs for a test of 7235 and the 7330 to 7345 region.

BW Traders should go long if a close over 7170 occurs.

July Platinum

Support is at 354.40 and 349 to 346 under that 342 should hold.

Resistance is at 357 to 358, a close over 358.90 is friendly and augurs for an eventual test of 366 to 368. Beyond that good sellers should appear near 372.

BW Traders should go long if a close over 358.90 occurs. .

July Silver

On the DownSide: Support is at 505. BW Traders can buy at 505 and hold for higher prices. Under that buyers should appear near 486. BW Traders should buy at 486 and hold for higher prices.

On the Upside. Resistance is at 519.5 and 522. A close over 522 is friendly and augurs for a test of 534 to 536. Beyond that resistance is at 548 and 562.

BW Traders should go long if a close over 522 occurs.

18.01 17.76 17.51 17.26 18.04 17.54

 

The Exciting Energies

June Crude

Nearby Support is at 1754 to 1751 and 1738. Day Traders can buy at 1755 for a turn higher risk 40 pts...

Nearby Resistance is at 1776 and 1801 to 1804. A close over 1804 is friendly. and augurs for test of 1822.

June Unleaded Gas

Nearby Support is at 5222. Day traders can buy at 5222 , risk 100 pts. Under that buyers should appear near 5140... Below that the 5065 to 5035 region should contain a decline in the near future.

Resistance is at 5345 to 5356 and 5422. A close over 5430 is friendly and augurs for an eventual test of 5645 to 5653 and beyond. BW Traders should go long if a close over 5430 occurs.

June Heating Oil

Support is at 4249 to 4230 and 4175 to 4163.

Resistance is at 4379 and 4450. A close over 4450 is friendly and augurs for a test of 4580 and eventually 4695 to 4717.

 

The Grand Grains

July Soybeans

Support is at 4861/2 and 485 3/4. Below that support is at 479 and 472.

Resistance is at 493 beyond that sellers should appear near 500 1/2 and 507.

A close over 507 augurs for a test of 521 to 525.

Traders should go long if a close over 507 occurs.

July Soybean Meal

Support is at 129.60 to 127.4 below that 125.5 and the 123.8 to 123.2
region should hold. BW Traders can buy at 127.40 and hold for higher prices. .

Resistance is at 133.4 to 134.60 a close over 134.6 is friendly and augurs for a test of 137.7 to 138.3. Beyond that resistance is at 141.

Traders should go long if a close over 134.6 occurs.

July Soybean Oil

Support is at 1996 to 1982, BW traders can buy at 1989 for a turn higher, risk a close under 1946 for three days in a row.

Resistance is at 2034 to 2042, a close over 2042 is friendly and augurs for a test of 2066 and the 2080 to 2088 region.

BW Traders should go long if a close over 2042 occurs.

July Corn

Support is at 219 to 217 should contain a decline in the near term..

Resistance is at 222 and 225 and 227.

A close over 222 is friendly and augurs for a test of 227

July Wheat

Support is at 261 3/4.. Under that buyers should appear near 259 and 252.

Resistance is at 266 1/2 then 270 1/2, a close over 267 1/2 is friendly and augurs for a test of 277.

BW Traders should go long if a close over 270 1/2 occurs.

 

The Satisfying Softs

July Cotton

On the Upside resistance is at 6025 to 6035, a close over 6035 is friendly and augurs for a test of 6125,

On the DownSide support is at 5880 to 5855 and the 5805 to 5792 region. Under that support is at 5650 to 5640 and 5577 to 5553.

July Sugar

Support should appear near the 428 to 421 region. Under that 408 to 405 should hold.

Resistance is at 442 to 448, a close over 442 is friendly and augurs for a test of 461 to 471.

July Coffee

On the DownSide, support is at 98.90, day traders can buy at 9890 and hold for higher prices . Under that buyers should appear near and 9835 and 9715 to 9700, BW traders can buy at 9745 and hold for higher prices.

On the Upside, Resistance is at 100 to 100.50 and the 101.40 to 102.10 region. A close over 101.90 augurs for an eventual test of 103.20 to 103.60 Beyond that resistance is at 105.10. to 105.80 and 106.80.

be long...

July Cocoa

Support is at 972 to 968 offers support. Under that traders should buy at 941 and hold.

Resistance is at 1018 and 1032 to 1036 and 1044, a close over 1044 is friendly and augurs for a test of 1058 and 1068 to 1074.. Beyond that sellers will appear near 1096 to 1101..

The Lively Livestock

June Cattle

Support is at 6307 , day traders can buy at 6307 , risk 100 pts. Below that support is at 6247 and 6232. Below that 6190 to 6162 should hold.

Resistance is at 6337 to 6347 and 6382 to 6397. A close over 6397 is friendly and augurs for a test of 6482 to 6507.

June Hogs

Support is at 507 to 5792 and 5762 to 5757. Day Traders can buy at 5762 and hold for higher prices. Below that buyers should appear near 5717 and the 5657 region.

Resistance is at 5855 to 5862 and 5880. Above that 5917 offers resistance as does.

6020 to 6035. Day Traders can sell at 5912 for a turn lower, risk 70 pts.

Stay Tuned for Flashes the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Nearby Support is at 5607. Under that support is at 5577 to 5552 and 5462.

BW Traders can buy at 5462, risk a close under 5257 for three days in a row.

Resistance is at 5672 and 5757. A close over 5672 is friendly and augurs for an eventual test of 5907

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

 

June Bonds

On The DownSide nearby support is at 120-24 and 120-17. Below that support is at 120-01. Traders should go short if a close under 120-16 occurs.

On the Upside: Resistance is at 121-17 beyond that sellers should occur at 122-01 and 122-17, BW traders can sell at 122-03 risk a close over 122-16 for three days in a row. Beyond that resistance is at 123-03 and 123-17.

June SP 500
Support
is at 1371.90 and 1370.50, under that support is at 1365 to 1363.20 and 1361.50. Day Traders can buy at 1663.20 ,put your own risk on it..

A close under 1361.50 augurs for an eventual test of 1354.50 and 1346.

Traders should go short if a close under 1361.5 occurs.

Resistance is at 1377.20 and the 1380 to 1383 region. Beyond that 1387 offers

resistance as does 1399 to 1406. A close over 1406 is friendly and augurs for a test of 1415 to 1421 which should cap the rally. BW Traders can sell at 1415 and hold for lower prices.

Stay tuned for Flashes

Dow Jones Industrial Avg.
Support
is at 10,680 to 10,653 and 10,580. A close under 10,680 is negative and augurs for a test of 10,470. Below that 10,360 to 10,320 offers support.

Resistance is near 10,743 and 10,820. Beyond that sellers should appear near 10,905 to 10,960 and 11,010 beyond that 11,155 should cap a rally

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

Happy Trading

Bill

April 27 1999 7:45 AM

B W Recommended Open Pos.

Long June Swiss at 6782

Long June D-Marks at 5425

Long June British Pound at 1.6090

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

Long June Cattle at 6477,6422,6332

Long July Wheat at 295 3/4,304 and 265

Long July Beans at 480

Long 2 July Coffee at 101.30 and 1 at 9995

Long 2 July Sugar at 517 and 1 at 437

Long July Cocoa at 1129
Long June Unleaded Gas at 5320
Short June C$ at 6741
Long June Crude at 1774

Long June Hogs at 5717

Long July Bellies at 5712

Short June SP500 at 1369.50

Long July Cotton at 5945

Long July Corn at 224

 

MC Recommended Open Pos.

Short 1 June SP500 at 1340.50

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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.