FuturesCom Investment Publications
Morning Comments (MC) June 03, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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June 03 1999

05:30 AM

On the Frenzied Forex Front

June Japanese-Yen

Nearby Support is at 8223 to 8194 and 8168.

Resistance is at 8261 then 8300 to 8314 and 8361. A close over 8314 is friendly and augurs for a test of 8391 to 8406 and 8428. BW Traders can sell at 8428 for a turn lower. Risk a close over 8454 for three days in a row.

June D-Mark

Resistance is at 5313 to 5319 and 5369

Support is at 5269 and the 5211 to 5200 region

June Swiss

Resistance is at 6531 and 6543 beyond that resistance is at 6577 to 6591.

Support is at 6509 and 6482. Under that 6440 to 6417 should hold...

June British Pound

support should appear near 1.6000 and 1.5950

Resistance is at 1.6090 and 1.6150 then 1.6252. BW Traders can sell at 1.6284 and hold.

June Canadian Dollar

Support should appear at 6755 and 6741.

Resistance is at 6781 and 6809

Stay tuned for Forex flashes.

Precious Metals

August Gold

Support is at 265 then 259

Resistance is at 269.9 and 272.50 then 275

Trade accordingly

July Copper

Support is at 6215 and 6150 then 6020

Resistance is at 6250 and 6315 then 6420.

July Platinum

Support is at 360 under that support is at 355

Resistance is at 365 and 370.5.

July Silver

On the DownSide: support is at 494 and 488 then 473.

On the Upside. Resistance is at 502 and 508.

The Exciting Energies

July Crude

Support is at 1657 then 1640 and 1615 to 1609. BW traders should go long at 1615 and Hold...

Resistance is at 1665 and 1690 to 1707.

July Unleaded Gas

Support is at 4855 then 4810

Resistance 4945. Beyond that good sellers should appear near 5010.

July Heating Oil

Support is at 3955 under that support is at 3930 and 3835

Resistance is at 4035 , beyond that sellers should appear near 4065 tom 4085.

The Grand Grains

July Beans

Support is at 457 3/4 and 455 1/2 under that 443 and should contain the decline.

Resistance is at 463 1/4 , beyond that sellers should appear near 471

November Beans

Support is at 469 1/4 and 466 1/2 then 461 1/2

Resistance is at 471 1/4 and 481

July Soybean Meal

Support is at 129.5 and 127.80 to 126.90

Resistance is at 131.5 and 132.5

July Soybean Oil

Support is at 1738 to 1731 and 1709.

Resistance is at 1762 then 1774 to 1780 beyond that resistance is at

1808 and 1835.

July Corn

Support is at near 215 1/4 and 214 then 209

Resistance is at 218 3/4 and 223

July Wheat

Support is at 249 and 245 then 237 3/4

BW Traders can buy at 237 3/4 and hold..

Resistance is at 254 3/4 and 257.

BW Traders should go long if a close over 255 1/2 occurs..

The Satisfying Softs

July Cotton

Resistance is at 5845 beyond that resistance is at 5907 and 5945 to 5957.

Support is at 5810 and 5769 then 5729 to 5710

July Sugar

Support is at 547 and 538 to 534, day traders can buy at 547, risk 35 pts. Under that support is at 518 and 507.

Resistance should appear at 559 to 563 and 568.

July the 'Monster' Coffee

On the DownSide, early support is at 120.30 to 119.80 and 119.20

Aggressive Day traders can buy at 120.30 and hold.. Put your own risk on it and stay tuned.. Under that support is at 118.05 and 117.30 to 116.80. Below that 116.30 and 115.80 should contain a decline.

On the Upside, Resistance is at 122.40 and 123.20 to 123.80 beyond that resistance is at 124.60 to 124.90. Above that resistance is at 126.80 to 127.40 and 130.40 to 131.10.

July Cocoa

Support is at 922 and 912 to 907

Resistance is at 932 and 941 to 944, beyond that 974 offers resistance.

The Lively Livestock

August Cattle

Support is at 6217, below that 6142 offers support.

Resistance is at 6287 beyond that sellers should appear near 6362.

June Hogs

Support is at 5057 and 5037 then 4992

Day traders can buy at 5037 risk 60 pts.

Resistance should appear near 5092 and 5177 to 5192 . A close over 5177 is friendly and augurs for a test of 5287 to 5307 and eventually 5460.

Stay Tuned for Flashes in the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Support is at 5267 and 5247 Below that support is at 5187 and 5097.

Day traders can buy at 5267 for a bounce, risk 100 pts.

Nearby Resistance is at 5397 to 5417 beyond that sellers should appear near 5487 to 5502 and 5537 to 5542. BW Traders can sell at 5537 and hold for lower prices

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide support is at 115-29 and 115-09, failure there augurs for a test of 114-29.

On the Upside: Resistance is at 116-17 then 116-29 and 117-09

June SP 500
On the DownSide, Early support is at 1294.10 and 1289 then 1285.40 below that

support is at 1281 and 1274 and 1268

Resistance is at 1304 to 1307. Above that resistance is at 1310, a close over 1310 is friendly and augurs for a test of 1314.50 and eventually 1322 to 1323.20.

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,530. Below that support is at 10,501 and 10,496.

Resistance is at 10,630 and 10,680 then 10,756.

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

Happy Trading

Bill

June 03 1999 6:38 AM

B W Recommended Open Pos.

Long 2 July Cotton avg. 5843

Long Nov. Beans at 485

Long July Bean Oil at 1784

Long July Silver 508

Long 2 June Hogs avg. 5650
Long Aug. short Nov. Beans at 8 1/2 (2)
Long June Short July Hogs at 200 (2)

Long June Hogs short Aug. Hogs at 270 (2)

Long 2 July Unleaded Gas at 5085

Long July Crude at 1731

Long June SP500 at 1325.20 and 1291

Long August Gold at 272.30

Long 2 June Canadian Dollar at 6792 avg.
Long Dec. Corn at 230 1/2

Long June bonds at 116-21
Long June Swiss Franc at 6509

MC Recommended Open Pos.

Long 2 June SP500 at avg. 1344.60

Long Aug. short Nov. Beans at 8 1/2 (2)
Long June Short July Hogs at 200 (2)

Long June Hogs short Aug. Hogs at 270 (2)

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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.