FuturesCom Investment Publications
Morning Comments (MC) Thursday July 22, 1999
Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs
Featuring Bi-Weekly Investment Outlooks, Morning Comments and Investment Books
Experienced Since 1979 & Serving Traders World Wide Since 1988
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Thursday July 22 1999

6:00 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8525 then 8499 to 8484 and 8445 Day traders can buy at 8525 and risk 50 pts.

Nearby Resistance is at 8560 then 8589 to 8595 and 8625.

Day traders can sell at 8625 , risk 50 pts.

Sept. D-Mark

Support should appear near 5391 and 5372 to 5364 Day Traders can buy at 5391 for a bounce, risk 35 pts Below that support is at 5322.

Resistance should appear near the 5418 to 5430 region. Beyond that resistance is at 5492 to 5504.

Sept. Swiss

Nearby Support is at 6582 and 6567 to 6557 Day Traders can buy at 6582 and hold for higher prices Below that support is at 6517.

Nearby Resistance 6614.then 6657 and the 6673 region.

Sept. British Pound

Support should appear near 1.5760 then 1.5736 and 1.5690

Resistance is at 1.5826.and 1.5886

Sept. Canadian Dollar

Support should appear at 6657 then 6622 and 6591 to 6577

Resistance is at 6673 and 6707.

Stay tuned for Forex flashes.

Precious Metals

August Gold

Nearby Support is at 254.50 and 252.3 then 251.1 BW Traders can buy at 251.90 and hold for higher prices... . Below that support is at 247 to 246 and 242.

Resistance is at 257.1, a close over 257.10 is friendly and augurs or a test of 261.20 to 262. and eventually 265.

Sept. Copper

Nearby Support should appear near 7355 to 7320. BW Traders can buy at 7355, risk a close under 7315 for three days in a row. Below that 7245 and 7170 to 7140 should contain a decline for a bit

Nearby Resistance is at 7535 and 7575 then 7635

Trade Accordingly and stay tuned.

Oct. Platinum

Support is at 353 to 352.5 . Below that support at 350.9.

Resistance is at 355.5 and 356.3 region. Beyond that resistance should appear near the 361.3 to 362.3 region. BW Traders can sell at 361.8 for a turn lower, risk a close over 364.5 for two days in a row.

Sept. Silver

On the DownSide nearby support is at 511 and 507.5 Under that support at 499 and 491 should hold..

On the Upside. Nearby resistance is at 519.5 to 521.5 Beyond that resistance is at 528 5 and 535.

BW Traders should go long if a close over 514.5 occurs

Trade Accordingly and Stay tuned...

The Exciting Energies

Sept. Crude

Nearby Support is at 1965 then 1954 to 1946 and the1909 to 1902 region, which should contain a decline for the time being. BW Traders can buy at 1909 and hold for higher prices... Below that support is at 1869 to 1858. Trade accordingly

Resistance is at 1982 then 1996 to 2002. However a close over 1996 is friendly and augurs for a test of 2028 and 2034.

Sept. Unleaded Gas

Nearby Support is at 5880 to 5855 region. Under that 5805 to 5792

should Hold.today

Resistance should appear at 5945 to 5967 and 6023. A close over 5967 is friendly and augurs for a test of the 6085.

Sept. Heating Oil

Nearby Support is at 4995 to 4972 Below that support is at 4895 then 4856 to 4845.

BW Traders can buy at 4856 , risk a close under 4775 for two days in a row.

Resistance is at 5056 then 5080 to 5095 and 5128

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 467 1/2 to 469 1/2 and 481 1/4.

Support is at 456 1/2 to 453 1/2 then 446 3/4 and 439.

Dec. Soybean Meal

Resistance is at 144.4 and 147.6 then 148.8.

Support is near 136.8 and 135.9.

Dec. SoyBean Oil

Resistance is at 1682 and 1696 to 1700 and 1731 to 1738

Support is at 1665 to 1642 and 1620.

Dec. Corn

Resistance is at 216 3/4 then 2211/4 and 224

Support is at 214 1/2 and 212 then 207

Sept. Wheat

Resistance is at 255 1/2 and 261 then 263 1/2

Support is at 251 1/2 day traders can buy at 251 1/2 and hold for higher prices ,

under that support is at 249 1/4 and 243.

Trade accordingly

The Satisfying Softs

Dec. Cotton

On the DownSide support is at 5112 then 5080 and 5002.

On the Upside Resistance is at 5181 and 5202 . A close over 5181 is friendly and augurs for a test of 5281 .Beyond that resistance is at 5330.

Oct. Sugar

Nearby Support is at 559 and 538 to 534 then 526 to 520 Day traders can buy at 534, risk 35 pts

Resistance should appear at 566 then 582 to 586 and 601 to 609

Trade Accordingly

Sept. Coffee

On the Upside, Resistance is at 9545 and 9565 to 9580 , beyond that sellers should appear near and 9710 and 9765 then 9830 Above that resistance should appear near the 100.00 to 100.50 and the 103.20 to 103.60 region.

On the DownSide, early support is at 9445 to 9425 and 9345 to 9325.. Day traders can buy at 9445 and hold for higher prices... .Below that buyers should appear near 9210 and the 9060 to 9040 region. Hearty BW Traders can buy at 9060 and hold for higher prices..

Sept. Cocoa

Support is at 1032 and 1024..day traders can buy at 1032, and hold for higher prices...Below that support is at 1005 to 1000

Resistance is near 1058 and 1068 to 1074

The Lively Livestock

August Cattle

Resistance is at 6447 and 6487. BW Traders can sell at 6482, risk a close over 6512 for three days in a row. Above that resistance is at 6577 to 6592.

Support is at 6412 to 6407 and 6367. Under that buyers should appear near 6337 and 6297.. day traders can buy at 6337 for a bounce and risk 80 pts.

Aug. Hogs
Support is at 4447 to 4427 and 4402, under that support is at 4337 to 4322.

Resistance is at 4527 then 4567 to 4582 beyond that sellers should appear near 4622.

From the Frying Pan into the Fire--

Aug. Bellies

Support is at 3642 and 3517 .

Resistance is at 3817 and 3867 and the 4047 to 4057 region

Stay Tuned for Flashes..

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide nearby support is at 117-05 , day traders can buy at 117-05 and hold for higher prices . Below that support is at 116-30 and 116-06 to 116-02

BW Traders can buy at 116-09 and hold for higher prices, risk a close under 115-26 for three days in a row..

On the Upside Nearby Resistance is at 117-13 then 117-30 to 118-02 beyond that resistance is at 118-30. BW Traders can sell at 118-26 for a turn lower and hold for lower prices.

Trade Accordingly.

Sept. SP 500

On the DownSide Nearby Support should be evident in the 1383 and 1380 to 1377. Day Traders can buy at 1377.10 for a turn higher put your own risk on it and stay tuned. Under that support is at 1370.50 Where it should hold on a decline basis the close. Day Traders can buy at 1370.40 for a bounce, again put your own risk on it and stay tuned for an exit... Below that support is at 1366.30 and 1361.5 .

Nearby Resistance is at 1393 and 1399 to 1402.50 Day Traders can sell at 1402.50 for a turn lower and put your own risk and hold for lower prices ..However a close over 1399 is friendly and augurs for a test of 1410.70 and eventually 1415 Beyond that sellers should appear near 1418 to 1421

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is near 10,985 then 10,960 and 10,907. Where it should hold on this

decline. Below that support is at 10,883 and 10,820

Resistance should appear near 11,010 and 11,102 Beyond that resistance is at 11,143 to 11,155 ..

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

Happy Trading

Bill

July 22 1999
7:48 AM

Happy Trading

Bill

B W Recommended Open Pos.

Long Aug gold at 256.30

Long Sept. Coffee at 9490
Long Sept. C$ at 6720
Long Sept Unleaded at 5880

Long Sept SP500 at 1399

Long Aug Hogs at 4517

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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.