FuturesCom Investment Publications
Morning Comments (MC) June 28, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
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Monday June 28, 1999

6:30 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8314 to 8300 and 8261. Under that buyers should appear near 8223 and the 8194 to 8183 region, Day Traders can buy at 8307 for a bounce, risk 30 pts.

Resistance is at 8365. Beyond that sellers should appear near 8391 to 8406.

Day traders can sell at 8402 for a turn lower , risk 30 pts.

Sept. D-Mark

Resistance is at 5385 and 5418 to 5430. BW Traders can sell at 5418, risk a close over 5462 for two days in a row.

Support should appear at 5344 and the 5282 to 5259 region..

Sept. Swiss

Resistance is at 6577 to 6591 and 6624 beyond that sellers should cap a rally near the 6656 to 6673 region.

Support is at 6548. Below that 6523 should contain a decline today,

Sept. British Pound

Support should appear near the 1.5760 and 1.5690

Resistance is 1.5886 and 1.5936 .

Sept. Canadian Dollar

Support should appear at 6809 then 6782 to 6772. Under that buyers should appear near 6755 to 6741 and 6707.

Resistance is at 6822 and 6836 Day traders can sell at 6836 a turn lower. Beyond that resistance is at 6863 then 6871... BW Traders can sell at 6871 for a turn lower risk a close over 6906 for three days in a row. Above that resistance is near 6906 and 6919.

Stay tuned for Forex flashes.

Precious Metals

August Gold

Support is at 261.2 and 259.90

Resistance is at 263.1 to 263.6 Beyond that resistance is at 265.3

Sept. Copper

Nearby Support is at 7005 to 6990 , day traders can Buy at 7005 Under that support should appear near the 6870

Nearby Resistance is at 7325 to 7340.

Trade accordingly

July Platinum

Support is at 347.7 and 344.2

Resistance is at 351.5 and 353.5

Sept. Silver

On the DownSide: support is at 509. Below that support should appear near 502 and 488 to 485.5 BW Traders should buy at 485.5 and risk a close under 478.5 three days in a row.

On the Upside. Nearby resistance is at 517 and 523 and 528.

Trade Accordingly

The Exciting Energies

Aug. Crude

Support is at 1822 and 1808. Day traders can buy at 1822, risk 30 pts. Below that support is at 1795.

Resistance is at 1847 then 1858 to 1862 and 1875.

Aug. Unleaded Gas

Support is at 5255 to 5235 and 5139 to 5127, BW traders can buy at 5127, risk a close under 5067 for two days in a row.

Resistance should appear at 5344 to 5355. A close over 5356 is friendly and augurs for an eventual test of the 5492 to 5504 and 5555 to 5577 regions

BW Traders should go long if a close over 5356 occurs

Aug. Heating Oil

Support is at 4555 to 4535, Day traders can buy at 4535 for a turn higher , risk 80 pts. Under that support is at 4514 to 4504

Resistance remains at 4639 to 4650, a close over 4650 is friendly and augurs for a likely test of the 4717 to 4735 region. Beyond that a trade towards the

4845 to 4856 should not be ruled out.... if it holds.

Trade Accordingly.

The Grand Grains

November Beans

Support is at 454 and 448

Nearby Resistance is at 459 and 462

DEC SoyBean Meal

Support is at 129.5 and 127.

Resistance is at 135 and 136.6

Dec. SoyBean Oil

Support is at 1726 and 1707

Resistance is at 1748 and 1767

Dec. Corn

Support is at 224 and 2260 .

Resistance is at 221 and 218.

Trade Accordingly.

Sept. Wheat

Support is at 262 3/4 and 259 1/2.

Resistance is at 265 1/2 A close over 265 augurs for a test of 270 1/4

The Satisfying Softs

Dec. Cotton

Support is at 5540 and 5505 and 5445

Resistance is at 5593 and 5645

Oct. Sugar

Nearby Support is at 646. Day traders can buy at 646 risk 35 pts.

Under that support is at 634 to 630.

Resistance should appear at 663 to 668 A close over 668 is friendly and augurs for a test of 682 to 686

Trade Accordingly

Sept. Coffee

On the DownSide support is at 99.70 to 98.50

On the Upside, Resistance is at 103.20 to 103.60 and 104.50 to 104.70.

Sept. Cocoa

Support should appear at 1036 to 1032 and 1016 under that 963 should hold.

Resistance is near 1055 and 1063 Beyond that sellers should appear near 1079 and 1096.

The Lively Livestock

August Cattle

Resistance is at 6377 Beyond that resistance is at 6417 to 6427 and 6447

Support is at 6297 and the 6270 to 6257 region. Below that buyers should appear near 6232 to 6222.

Trade accordingly

Stay Tuned for Updates in the Hogs Complex.

The Quarterly Pig Crop released Friday was Deemed Bearish for Hogs

We will wait till the Smoke Clears to give a technical outlook

Stay Tuned for Flashes the Pork Complex.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide support is at 113-12 to 113-09 , day traders can buy at 113-12

risk 10 pts. Below that support is at 112-27 and 112-18.

On the Upside Nearby Resistance is at 113-27 and 114-04 , a close over 113-27 is friendly and augurs for a test of 114-16 to 114-21 with a touch of 115-104 not out of the question.

Trade Accordingly.

Sept. SP 500

On the DownSide Support is at 1328.30 then 1324.30 and 1322 Day Traders can buy at 1324.80 and hold for higher prices. Under that the 1310 to 1304 and 1292

regions should provide support.

Resistance is at 1334 and 1337.80 and 1340 above that resistance is at 1346 and 1356.10 to 1357.40 beyond that sellers should appear near 1361.50.

A close over 1334 is friendly

Trade Accordingly and Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,470 and 10,360 then 10,320

Resistance is at 10,580 and 10,630 above that resistance is at 10,680 and 10,720

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

Happy Trading

Bill

June 28 1999
8:27 AM

B W Recommended Open Pos.

Long 2 Nov. Beans at 478

Long Dec. Corn at 232 1/2
Long 7 Oct. Hogs avg. 5362

Long Sept. Coffee 105.75
Long 1 Aug. Hog at 5307
Long July Bellies at 4385

Long Sept. Bonds at 114-21

MC Recommended Open Pos.

Long 4 Oct. Hogs 5362

Long 2 Nov. Beans at 478 1/4
Long Aug. Short Nov. Beans at 8 1/2 (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.