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 Morning Comments   (MC)  Aug. 6 1999

 Bonds.. SP500.. Forex.. Precious Metals.. Energies..Grains.. Livestock.. Softs

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Monday  Aug. 9, 1999

5:00 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support  is at 8722 then 8706 with a touch of 8699 likely today. Under that support is at  8683 to 8668.  

Nearby Resistance is at 8777 and 8799  Beyond that sellers should appear near 8817 and 8837 and the 8856 to 8871 region. BW traders can sell at 8871 and hold for lower prices. 

A close under 8707 is negative

Sept. D-Mark

Nearby Support  should appear at 5504 to 5492. Below that  support is at 5456 and the 5430 to 5418 region.

Resistance is at 5514 and 5533  above that sellers should appear near 5553 and 5577  to 5589. BW  Traders can sell at 5553 and hold for lower prices, risk a close over 5577 for three days in a row..

A close under 5512 is negative.. BW Traders should go short if a close under 5459 occurs.

Sept. Swiss

Nearby Support  is at 6707 a close under is negative and augurs for a test of the 6673 to 6659 region. .

Resistance is at 6741 and 6755 then  6777 above that sellers should appear near the  6809 to 6836 region  Day traders can sell at 6809 and hold for lower prices...

A close under 6741 negative BW Traders should go short if a close under 6707 occurs

Sept. British Pound

Support should appear near 1.6090 under that  buyers should appear near 1.6012 and 1.5986

Resistance is at  1.6150  and 1.6286.  BW Traders can sell at 1.6286 for a turn lower and risk a close over 1.6420  for two days in a row....

Sept. Canadian Dollar

Support should appear  near 6626  and stop a decline for now.  Under that buyers should appear near 6591 and 6577

Resistance is at  6559  and 6673 Beyond that resistance is at  6707 

Stay tuned for Forex flashes.

Precious Metals

Dec. Gold

Nearby Support is at 256.70. Below that support is at 254.

Resistance is at  259.3 a close over 259.3 is friendly and augurs for a test of  262. 

Sept. Copper

Nearby Support  is at 7715 and 7620 then 7545  Under that good support should appear near the  7430  region.  

Nearby Resistance is at 7815 to 7835  BW  Traders can sell at 7835 for a turn lower, risk a close over 7875 for  two days in a row. Beyond that sellers should appear near 7950 and 8015.

Trade Accordingly and stay tuned.

Oct. Platinum 

Support  is at 350.5 under that 348 to 347 should hold. Below that buyers should a

appear near 344.3.

Resistance is at  354.5 and 357 beyond that a test of 360 is likely.  

Sept. Silver

On the DownSide support is at 535.5 below that support is at 527.5 and 521

Day traders can buy at 521 and hold for higher prices..

On the Upside resistance is at  542. A close over 542 is friendly and augurs for a test of  558 to 563  if it holds... 

Trade Accordingly and Stay tuned for Flashes...

The Exciting Energies

Sept. Crude

Nearby Support is at 2080 and 2074 under that support is at  2060 and 2042 to 2034

Resistance  is at  2088 then 2126 to 2134 and 2170 to 2185. Beyond that  2219 to 2226 should cap the rally for a bit. BW Traders can sell at 2219, risk a close over 2267 for two days in a row. 

Sept. Unleaded Gas

Nearby Support is at 6518 to 6498 and 6430 to 6415. Under that good buyers should

appear near 6331. 

Resistance should appear at 6577 to 6591. Beyond that sellers should  appear near the  6659 to 6673 region and 6765

Sept. Heating Oil

Nearby Support is at 5411 and 5356 to 5344 under that support is at 5256.

Resistance is at 5435 to 5455 and the 5492 to 5504 region   BW  Traders can sell at 5492, risk a close over  5504 for three days in a row.

 Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 487 3/4 to 489 and 496

Support is at  472 3/4 and 468 1/4 under that 461 should hold.

Dec. Soybean Meal

Resistance is at 148.5 and 152.3 

Support is near 143.5 and 140.4

Dec. SoyBean Oil

Resistance is at 1731 to 1738  and  1774 to 1780. 

Support is at  1689 then 1664 and the 1642 to 1637.

Dec. Corn

Resistance is at 236 1/4. Beyond that a test of 240 1/2 is likely.

Support is at  230 3/4 then 226 1/2 

Sept. Wheat 

Support is at  278 1/2 and 276 1/4. Day Traders can buy  276 3/4 and hold for higher prices. Below that support is at 272 under that 267 should stop a break.

Resistance is at  283, a close 283 over augurs for a test of  290 to 292.   

The Satisfying Softs

Dec. Cotton

On the DownSide support is at  5256 and the 5211 to 5200  region. Below that buyers should appear near 5156.

On the Upside  Resistance is at  5344 to 5356.  A close over 5356 is friendly and augurs for a test of 5492 to 5504.

Oct. Sugar  

Nearby Support is at 586 to 582.  BW  traders can buy at 586, risk a close  under 582 for three days in a row. 

Resistance should appear at 601 and 609 beyond that  sellers should appear near 625 to 628 and the 630 to 634 region.  

Sept.  Coffee 

On the Upside, Resistance is at 9365 and 9490.. Beyond that resistance is at  9545 and 9625 to 9640. Above that sellers should appear near 9705 to 9735. 

On the DownSide,  support is at 9245, below that buyers should  appear near 9155 and 9025 then 8965.

Sept. Cocoa

Support  is at  961 and 954 Below that support is at 947 and the  941 to 932 region under that  912 to 907 should hold..

Resistance is at 976 and the 1005 to 1005 region.  Beyond that sellers should appear near 1032 to 1036 and 1054. Trade accordingly

The Lively Livestock

Oct. Cattle

Support is at 6527 then 6507 to 6487, Day traders can buy at 6512 and hold for higher prices.. under that support is at 6457 and the 6432 to 6417 region. Below that Buyers should appear near support is at 6387.

Resistance is at  6562 and 6607 then 6622,  BW traders can sell at 6622 for a turn lower, risk a close over 6707 for two days in a row.  Beyond that sellers should appear near 6672  

Oct. Hogs
Support is at 4517 then 4467 and 4427.  Under that buyers should appear near 4367.

Resistance is at should appear near 4572. Beyond that resistance is at  4667..

Day traders can sell at 4667 and hold for lower prices. Beyond that sellers should appear near 4717.

Stay Tuned for Belly and Hog Flashes.  

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide nearby support is at  114-07 below that 113-11 to

113-08 should hold

On the Upside Nearby  Resistance is at 115-00 to 115-02 and 115-11  beyond that sellers should appear near 115-24.

Trade Accordingly.

Sept. SP 500

On the DownSide Nearby Support is at  1310 and 1308 to 1307 under that buyers should appear near 1304  Where it should hold on a decline basis the close. Below that support is at 1298.90 and 1292.60  Day traders can buy at 1298.90 and hold for higher prices.. put your own risk on it and stay tuned. Under that support should appear near 1289.

Nearby Resistance  is at 1317.  Above that sellers should  appear near  1322, a close over 1322 is friendly and augurs for a test of  the  1334 to 1336.00 region.  Beyond that good a test of 1340 is likely. A close over 1340 is friendly and augurs for a test of 1356.10 and eventually 1361.50

* BW Traders  should go long if a close over 1322 occurs

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 10,680  and 10,648 to 10,630 and 10,614. Under that buyers should

appear near the 10,580  region.  Below that support is at 10,475 to 10,464  and the 10,360 to 10,320 region.

Resistance should appear near 10,796 and 10,820 beyond that resistance is at  10,845 and 10,908 then 10,960 to 11,010. 

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

Happy Trading

Bill 

Aug. 9  1999
5:59 AM

BW recommended Open Pos.

Long Sept. Bonds at 116-09

Long 1 Sept. SP500 at 1399.

Short Sept. Unleaded Gas at 6337

Short Sept. Heating Oil at 6259

Long Sept. Silver at 543.5

Long Dec. Gold at 256.8

Long Sept. Wheat at 282 3/4

Long Dec. Cotton at 5301

Long Sept. Cocoa at 1000

Short Sept. Yen at 8725

Long Oct. Platinum at 351.1

Long Sept. C$ at 6701

Long Oct. sugar at 611

MC recommended Open Pos.

NONE

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.

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