FuturesCom Investment Publications
Morning Comments (MC) June 16, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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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.

Wed June 16, 1999

07:00 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8391 and 8355 below that the 8314 to 8300 region should hold.

Resistance is at 8455 to 8461 and 8484 to 8499.

Sept. D-Mark

Resistance is at 5344 to 5355 and 5371.

Support is at 5305 and 5287 where it should hold for a bit. BW Traders can buy at 5282 and Hold for higher prices.

Sept. Swiss

Resistance is at 6561 and 6573 to 6577 then 6591.

Support is at 6511 to 6482. BW Traders can buy at 6509, risk a close under 6482 for three days in a row. Below that 6461 should contain a hard decline today.

Sept. British Pound

Support should appear near 1.5828 and 1.5760 to 1.5690.

Resistance is at 1.5938 and 1.5978 to 1.5986

Sept. Canadian Dollar

Support should appear at 6821, day traders can buy at 6822, risk 40 pts. Under that buyers should appear near 6808 and 6794.

Resistance is at 6836 and 6872. A close over 6872 is friendly and augurs for a test of the 6895 and the 6906 to 6919 region. Beyond that test of 6990 to 7003 is likely.

Stay tuned for Forex flashes.

Precious Metals

August Gold

Support is at 256.80 to 255.7

Resistance is at 261.2 to 262

July Copper

Support is at 6190 then 6120 to 6090. Under that support should appear near the 6035 to 6020 region. Traders can buy at 6035, risk a close under 6020 for two days in a row.

Resistance is at the 6390 and 6420 Beyond that resistance is at 6535.

July Platinum

Support is at 351.5 and 347.5

Resistance is at 360, Beyond that resistance is at 363

July Silver

On the DownSide: support is at 493 and 488 to 485 BW traders should buy at 488.5 and risk a close under 485 three days in a row.

On the Upside. Nearby resistance is at 508 and 514.

The Exciting Energies

July Crude

Support is at 1856 to 1847. Day traders can buy at 1847 Below that buyers should appear near 1831 and 1822 then 1807.

Resistance is at 1875 to 1881 and 1901

July Unleaded Gas

Support is at 5315 Day traders can buy at 5315 risk 100 pts. Below that support is at 5270 and 5225

Resistance should appear at 5418 to 5430 then 5469 then 5497.

July Heating Oil

Support is at 4571 to 4555 under that 4519 and 4465 offer support.

Resistance is at 4695 to 4717 and 4760.

The Grand Grains

July Beans

Support is at 460 to 459 BW Traders can buy at 459, risk a close under 457 1/4 for two days in a row. Below that support is at 456 and 450

Resistance is at 4671/4 and 473 However a close over 472 is friendly and augurs for a test of 479 then eventually 490

BW Traders should go long if a close over 472 occurs..

November Beans

Support is at 468 3/4 and 466 1/2

Resistance is at 475 3/4 Beyond that sellers should appear near 482 3/4

BW Traders can go long if a close over 485 3/4 occurs.

July SoyBean Meal

Support is at 135.60 and 133.6, BW traders can buy at 133.6 risk a close under 132.20 for two days in a row.

Resistance is at 138.60 and 141.

July SoyBean Oil

Support is at 1674 and 1664 then 1645.

Resistance is at 1697 to 1712 then 1731.

BW Traders should go long g if a close over 1731 occurs.

Dec. Corn

Support is at 226 and 223 then 221.

Resistance is at 227 3/4 and 231

Sept. Wheat

Support is at 270 to 269 1/2 under that support is at 268 1/4.

Resistance is at 273 3/4 and 274 1/2.

The Satisfying Softs

Dec. Cotton

On the Upside resistance is at 5698 and 5740 to 5755

On the DownSide support is at 5660 to 5648 and 5598.

Oct. Sugar

Support is at 559 below that support is at 539 and 521

Resistance should appear at 563 and 568 then 572.

Sept. Coffee

On the DownSide, early support is at 105.15. Below that support is at 104.70 and 104.25 then 103.90 to 103.60 and 103.20 Day traders can buy at 103.90 risk 150 pts.

On the Upside, Resistance is at 106.35 and 106.80 then 107.30

A close over 107.30 augurs for a test of 108.70 and 109.60 to 110.10

Sept. Cocoa

Support should appear near the 1101 to 1096 and 1089 under that buyers should appear near 1039. BW traders can buy at 1034 and hold for higher prices.

Resistance is at 1112 and 1130 then 1136 to 1140

The Lively Livestock

August Cattle

Support is at 6432 and 6397 to 6377 .

Resistance is at 6472 and 6527 above that sellers should appear near 6547.

July Hogs Support is at 5107 and 5002 to 5007

Resistance is at 5217 a close over is friendly and augurs for a test of 5307

Oct. Hogs

Support is at 5272 and 5227 then 5192

Resistance is at 5292 and 5332 then 5387

Stay Tuned for Flashes in the Pork Complex.

From the Frying Pan into the Fire--

July Bellies

Support is at 4227 to 4217 and 4157 then 4057.

Nearby Resistance is at 4352 to 4377. A close over 4352 is friendly and augurs for a test of 4522 to 4527.

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide support is at 114-15 then 114-04 and 113-15

On the Upside: Resistance is at 114-22 then 115-02 to 115-05 and 115-11 to

115-15..

Sept. SP 500

On the DownSide support is near 1310 and then 1307.80 and the 1307 to 1304

region Below that buyers should appear at 1294.00 and 1291.70

Resistance is at 1322. Beyond that resistance is at 1323.80 and 1325.80 and 1327.70 ...A close over 1322 is freindly and augurs for a an evetual test of 1334

beyond that resistance is at 1339.70

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,580 and 10,530 then 10,470 under that support should appear near 10,360 and 10,337 to 10,320.

Resistance is at 10,649 to 10,680.beyond that a test of 10,757 is likley.,

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

Happy Trading

Bill

June 16 1999
7:55 AM

B W Recommended Open Pos.

Long 3 Nov. Beans at 483 3/4

Long 2 July Beans at 468

Long Dec. Corn at 232 1/2
Long July Wheat at 474 1/2

Long Aug. Short Nov. Beans at 8 1/2 (2)
Long 7 Oct. Hogs avg. 5362
Long July Hogs at 5502
Short Aug. Cattle at 6457
Long Sept. Bonds at 115-31 and 115-03

Long Sept. British Pound at 1.6180
Long 2 Sept. Coffee (116.90,113.60) 115.25 Avg.

Long Sept SP500 at 1323.70

Long Sept SP500 at 1316.80

Short July Heating Oil at 4570

Long 2 aug Hogs at 5307

MC Recommended Open Pos.

Long Aug. Short Nov. Beans at 8 1/2 (2)
Long 4 Oct. Hogs 5362

Long 2 Nov. Beans at 478 1/4
Long 2 July Beans at 468
Long Sept SP500 at 1316.80

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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.