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Morning Comments (MC) Aug. 11 1999

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

Featuring Bi-Weekly Investment Outlooks, Special Reports, Morning Comments and More

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Wed Aug. 11, 1999

6:30 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8720. Under that support is at 8683 to 8668.

Nearby Resistance is at 8777 and 8794 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 5669 and the 5430 to 5418 region.

Resistance is at 5492 to 5504 above that sellers should appear near 5519 , day traders can sell at 5519 beyond that resistance is at 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..

BW Traders should go short if a close under 5459 occurs.

Sept. Swiss

Nearby Support is at 6673 to 6659 region. A close under 6659 is negative and augurs for a test of 6614

Resistance is at 6707 and 6714 beyond that sellers should appear near 6741 and 6755

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 6673 and 6659

Resistance is at 6707 and 6722

Stay tuned for Forex flashes.

Precious Metals

Dec. Gold

Nearby Support is at 259.00. Below that support is at 256.5.

Resistance is at 260.5 and 262 a close over 262 is friendly and augurs for a test of 266.5.

Sept. Copper

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

Nearby Resistance is at 7760 and 7775 then 7815 to 7835 BW Traders can sell at 7835 for a turn lower, risk a close over 7875 for two days in a row.

Trade Accordingly and stay tuned.

Oct. Platinum

Support is at 348 to 347 should hold. Below that buyers should appear near 342.5.

Resistance is at 352 and 353 beyond that a test of 362 is likely.

Sept. Silver

On the DownSide support is at 528.5, day traders can buy at 529 and hold for higher prices..Under that support is at 521

Resistance is at 538 and 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 2112 and the 2088 to 2080 region under that support is at 2042 to 2034

Resistance is at 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 6430 to 6415. Under that good buyers should appear near 6377.

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 to 5385 and 5356 to 5344 under that support is at 5256.

Resistance is at 5492 to 5504 and 5535 to 5555 beyond that sellers should appear near the 5590 to 5610 region Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 493 1/3 and 499 then 504

Support is at 490 to 487 under that 477 should hold.

Dec. Soybean Meal

Resistance is at 152.3 and 155

Support is near 148 then 143.5 and 141.8

Dec. SoyBean Oil

Resistance is at 1774 to 1780 and the 1808 to 1822 region

Support is at 1747 and the 1738 to 1331 region.. Under that 1696 to 1689 should hold.

Dec. Corn

Resistance is at 241 1/2 is and 244.

Support is at 238 1/4 and 236 3/4 to 234

Sept. Wheat

Support is at 278 to 277 1/4. Below that support is at 272 , day traders can buy at 272 and risk 8 cents below that 267 to 265 3/4 should stop a break.

Resistance is at 281 1/2 and 284, a close 284 over augurs for a test of 290 to 292.

The Satisfying Softs

Dec. Cotton

On the DownSide support should appear near the 5256 to 5244 region below that 5201 and 5175 should hold.

Resistance is at 5277 and 5344 to 5356 .

Oct. Sugar

Nearby Support is at 609 to 601 and 586 to 582. BW traders can buy at 586, risk a close under 582 for three days in a row.

Resistance should appear at 619 and the 630 to 634 region.

Sept. Coffee

On the Upside, Resistance is at 9455 and 9520 Beyond that resistance is at 9625 to 9640. Above that sellers should appear near 9770.

On the DownSide, support is at 9305, below that buyers should appear near 9265 and 9020.

Sept. Cocoa

Support is at 932 under that buyers should appear near 922 and the 912 to 907 region

Resistance is at 955 and 968 to 971

The Lively Livestock

Oct. Cattle

Support is at 6542, under that support is at 6512 and 6467

Resistance is at 6617 to 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 6657 and 6692

Oct. Hogs
Support is at 4622 and 4612 then 4582. Under that buyers should appear near 4492.

Resistance is at should appear near 4982 to 4692 and 4717 Beyond that sellers should appear near 4747 and 4782.. Day traders can sell at 4782 and hold for lower prices....

Stay Tuned for Belly and Hog Flashes.

The Sensational Stock and Bond Markets

Sept. Bonds

On The DownSide nearby support is 113-13 and 113-02 below that support is at 112-13 and 112-02

On the Upside Nearby Resistance is at 113-25 and 114-02 beyond that sellers should appear near 114-13 a close over 114-13 is friendly and augurs for a test of 115-02 Trade Accordingly.

Sept. SP 500

On the DownSide Nearby Support is at 1289 Under that support is at 1277 and 1274.

Below that 1268 should contain a decline..

Nearby Resistance is at 1298.30 Above that sellers should appear near 1304 to 1307 and 1308.40 to 1310 a close over 1310 is friendly and augurs for a test of 1322.

Beyond that good a test of 1334 is likely.

* BW Traders should go long if a close over 1310 occurs

Stay tuned for Flashes ...

Dow Jones Industrial Avg.
Support is at 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 10,680 and 10,743 then 10,796 to 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. 11 1999
7:53 AM

BW recommended Open Pos.

Long Sept. Bonds at 116-09

Long Sept. SP500 at 1399.

Short Sept. Heating Oil at 5492

Long Sept. Silver at 543.5

Long Dec. Gold at 256.8

Long Sept. Wheat at 282 3/4

Long Dec. Cotton at 5301

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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