FuturesCom Investment Publications
Morning Comments (MC) April 27, 1999
Bonds.. SP500..
Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and More
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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.

Tuesday April 27, 1999

5:35 PM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8351 and 8338 Below that 8314 to 8300 should hold. Day traders can buy at 8307 and risk 50 pts.

Resistance is at 8369 and 8391 to 8407 a close over 8407 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 5457 and 5432 to 5418. A close under 5418 augurs for a test of 5356 to 5344,

Resistance is at 5482 and 5496 to 5504. Day traders can sell at 5496, 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 6647 and 6597 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 6681 and the 6697 to 6707 region Day traders can sell at 6681, risk 40 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 1.6150 to 1.6090. Under that support is at 1.6038

Resistance is at 1.6212 and 1.6238.

June Canadian Dollar

Support should appear at 6753 and 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 6792 and 6803.

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 7050 and 6980 then 6910. BW Traders can buy for a turn at 6935, hold for higher prices. Under that support should appear near 6850. BW Traders can buy at 6835, risk a close under 6740 for three days in a row.

Resistance is at 7130 and to 7170. A close over 7170 is friendly and augurs for a test of 7250 and the 7310 to 7345 region.

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

July Platinum

Support is at 355.90 and 349 to 346 under that 342 should hold.

Resistance is at 357.5, a close over 357.50 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 518.5, day traders can buy at 518.5 and hold for higher prices. Below that support is at 513 and 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 522 to 524.5. 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.

The Exciting Energies

June Crude

Nearby Support is at 1777 to 1774 then 1752 and 1738. Day Traders can buy at 1753 for a turn higher risk 40 pts...

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

June Unleaded Gas

Nearby Support is at 5228. Day traders can buy at 5228, 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 5326 to 5344 and 5430. 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 4308 to 4290 under that support is at 4195 to 4163.

Resistance is at 4392 then 4470 . A close over 4470 is friendly and augurs for a test of 4580 and eventually 4695 to 4717.

 

The Grand Grains

July Soybeans

Support is at 485 3/4 Below that support is at 483 3/4 and 479.

Day traders can buy at 483 3/4 , risk 8 cents.

Resistance is at 491 1/2 beyond that sellers should appear near 494 and 499.

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

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 131.2 to 133.10 a close over 133.1 is friendly and augurs for a test of 136.4 Beyond that resistance is at 138.2.

Traders should go long if a close over 134.6 occurs.

July Soybean Oil

Support is at 1982, Day traders can buy at 1982 for a turn higher , risk 50 pts.

Under that support should appear near 1961 and 1953 to 1946.

Resistance is at 1996 and 2015 then 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 217 3/4 and 216 1/4.

Resistance is at 220 to 221 1/2 and 224 3/4.

A close over 222 is friendly and augurs for a test of 225 3/4

July Wheat

Support is at 259 3/4 and 254 then 250 1/2

Resistance is at 262 to 264 3/4 and 267, a close over 264 3/4 is friendly and augurs for a test of 271.

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

 

The Satisfying Softs

July Cotton

On the Upside resistance is at 6005 then 6023 to 6038, a close over 6038 is friendly and augurs for a test of 6140 beyond that resistance is at 6165 to 6180

On the DownSide support is at 5957 to 5940 and the 5840 to 5805 region.

July Sugar

Support should appear near the 408 to 405 region. Below that 396 to 385 should contain the decline.

Resistance is at 428 to 433 , a close over 433 is friendly and augurs for a test of 458 .

July Coffee

On the DownSide, support is at 100.50 and 100.00 below that day traders can buy at 99.10 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 101.55 to 101.80. A close over 101.90 augurs for an eventual test of 103.20 to 103.60 . 104.00 ...Beyond that resistance is at 105.10. to 105.80 and 106.80.

be long...

July Cocoa

Support is at 983 and 972 to 968 then 956 to 950 . Under that traders should buy at 941 and hold.

Resistance is at 1000 to 1006 then 1032 to 1036 , a close over 1036 is friendly and augurs for a test of the 1058 to 1068 region..

The Lively Livestock

June Cattle

Support is at 6312 , day traders can buy at 6312 , risk 100 pts. Below that support is at 6247 to 6237. Below that 6202 to 6162 should hold.

Resistance is at 6387 to 6392. A close over 6392 is friendly and augurs for a test of 6462 to 6507.

June Hogs

Support is at 5757 to 5722. Day Traders can buy at 5757 and hold for higher prices. Below that buyers should appear near 5722 and the 5647 to 5622 region.

Resistance is at 5792 to 5802 then 5817 , beyond that resistance is at 5847.

Above that 5922 offers resistance as Day Traders can sell at 5922 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 5662 and 5612 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 5762. A close over 5762 friendly and augurs for an eventual test of the 5912 to 5962 region. Day traders can sell at 5912 and hold for lower prices...

BW traders can sell at 5977 .. risk a close over 6037 for three days in a row.

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

 

June Bonds

On The DownSide nearby support is at 121-18 and 121-13 below that support is at 120-27.

On the Upside: Resistance is at 121-30 beyond that sellers should occur at 122-01 and 122-18, 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 123-18.

June SP 500
Support
is at 1370.70 and 1370.20, Day Traders can buy at 1370.70 ,put your own risk on it.. Under that support is at 1368 and 1361.50. A close under 1361.50 augurs for an eventual test of 1354.50 and 1346.

BW Traders should go short if a close under 1361.5 occurs.

Resistance is at 1377 and 1380 above that 1384 to 1386 offers resistance . Day Traders can sell at 1386 for a turn lower put your own stop on it and stay tuned. Beyond that sellers should appear near the 1399 to 1406 region... 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 10,727 and 10,680 A close under 10,680 is negative and augurs for a test of 10,580. Below that 10,470 should hold..

Resistance is near the 10,894 to 10,905 region , beyond that sellers should appear near 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 6:35 PM

B W Recommended Open Pos.

Long June Swiss at 6782

Long June British Pound at 1.6182

Long July 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

Short June SP500 at 1369.50

Long July Cotton at 5945

Long July Corn at 224

Long July Bean Oil at 1989

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.