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Morning Comments (MC) Friday , August 20, 1999

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

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

Experienced Since 1979 & Serving Professional and Individual Futures Traders World Wide since 1988

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Fri August 20, 1999
5:00 AM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support is at 8964 and 8934 Below that support is at 8871 to 8864.

Nearby Resistance is at 9018 and 9045 to 9060

Sept. D-Mark

Support should appear at 5430 to 5418 and 5387..

Resistance is at 5492 to 5504, day traders can sell at 5492r a turn lower, risk 30 pts.

Trade accordingly

Sept. Swiss

Nearby Support is at 6673 and 6659., a close under 6659 is negative and augurs for a test of 6543 and the 6509 to 6482 region..

Resistance is at 6707 and 6741 Beyond that sellers at 6755 and cap a rally..

Day Traders can sell at 6741 and hold for lower prices..

Sept. British Pound

Support should appear near 1.6150 and 1.6090.

Resistance is at 1.6226 Beyond that is at resistance 1.6286

Sept. Canadian Dollar

Support should appear at 6673 to 6659.. Aggressive BW traders can buy a dip to 6673 and risk close under 6659 for three days in a row.

Resistance is at 6707 and 6741 to 6755 then 6773

Stay tuned for FuturesCom's Forex flashes

Precious Metals

Dec. Gold

Nearby Support is at 261.2 Below that support is at 259 and 255.8 to 255.2 which should hold..

Resistance is at 262.2 m a close over is friendly and augurs for a eventual test of 266 and 267.20 beyond that sellers should appear near 268.50 to 269 and 272.40 beyond that sellers should appear near 275.80 to 277.50 and cap a rally

BW Traders should go long / add if a close over 267.20 occurs as we may see a test of 271.60 to 272.40

Buy Dips

Dec. Copper

Nearby Support is at 7575 then 7510 to 7490. Day Traders should guy at 7525 and hold risk 100 pts Below that support is at 7415 and 7335

Nearby Resistance is at 7675 to 7685 and 7770 then 7895 and 7940 to 7955

BW Traders should go long if a close over 7955 occurs.

Oct. Platinum

Support is at 353 and 350.5 Under that support is at 347..

Resistance is at 359y Above that resistance should appear near the 362.3 region

A close over 362.30 is friendly ..and augurs for a test of 366.30 to 368.20

BW Traders should go long if a close over 362.30 occurs..

Dec. Silver

On the DownSide nearby support is at 521 . Below that .support is at 507 to 505.

BW Traders can buy at 505 for a bounce. Risk a close under 491 for two days in a row.

On the Upside. Nearby resistance is at 528 and 533 then 541 to 543

BW Traders should go long if a close over 543 occurs .

Trade Accordingly and Stay tuned for Flashes...

The Exciting Energies

Oct. Crude

Nearby Support is at 2185 and 2170 then 2126

Trade accordingly

Resistance is at 2219 to 2226 and the 2267 to 2275. BW Traders can sell at 2267 for a turn lower , risk a close over 2275 for two days in a row. Above that 2315 to 2322 offers resistance.

Oct. Unleaded Gas

Support is at 6430 and 6418 then 6350 to 6337 and 6259

Resistance should appear at 6337 to 6350 and 6418 to 6430 Beyond that resistance is at 6480 to 6509 and 6577 to 6591 Which should cap a rally ..BW Traders can sell at 6577 and risk a close over 6591 for two days in a row

Oct. Heating Oil

Nearby Support is at 5855 and 5805 to 5792 , a close under 5792 is negative and augurs for a test of 5707.

Resistance is at 5880. Beyond that sellers should appear near the 6023 to 6035

region aggressive BW traders can sell at 6023 and hold for lower prices

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 480 and 482 3/4 then 488.. A close 485 3/4 is friendly and augurs for a test of 495 and eventually 508 3/4 then 512 1/2 to 514..

Support is at 473 then 467 and the 459 to 457 region..

Dec. Soybean Meal

Resistance is at 145.9. A close over 145.9 is friendly and augurs for a test of 156.

Support is near 142.4 then 138.2 to 137.7

Dec. SoyBean Oil

Resistance is at 1780 and 1802 then 1822

Support is at 1738 to 1731 and the 1692 to 1686 region

Trade Accordingly and Stay tuned

Dec. Corn

Resistance is at 227. Above that sellers should appear near 232

Support is at 225 then 223 and 219

Dec. Wheat

Resistance is at 293.. A close over 293 3/4 is friendly and augurs for a test of 298 to 301 and eventually 305 where resistance should appear. Beyond that resistance is at 309 and 318..

Support is at 288 1/2 and 283 then 278 to 275 1/2.

The Satisfying Softs

Dec. Cotton

On the DownSide support is at 5356 to 5344 and 5296. Below that buyers should appear near 5282 to 5259 and the 5211 to 5200 region

On the Upside Nearby Resistance is at 5492 to 5504. Beyond that resistance is at 5553 to 5577

Oct. Sugar

Nearby Support is at 609 and 601 under that 586 to 581 should hold.. BW Traders can buy at 583 and risk a close under 568 for three days in a row.

Resistance should appear at 623 and the 630 to 634 region. A close over 634 is friendly and augurs for a test of 656 to 661 and eventually 680.

Dec. 'The Monster' Coffee

On the Upside, Resistance is at 9285 to 9300 and 9445 to 9460

On the DownSide, support is at 9156 to 9140. Under that 8875 to 8855 should contain

a decline...

Stay tuned...

Dec. Cocoa

Support is at 955 and the 941 to 932 region under that 918 to 907 should hold..

Resistance is at 968 to 973 and. Beyond that sellers should appear near 1000 to 1005 and the 1032 to 1036 region.

BW Traders should go long if a close over 1005 occurs..

Trade accordingly

The Lively Livestock

Oct. Cattle

Support is at 6552 then 6492 and 6475 and the 6432 to 6417 region.. BW Traders can buy at 6432 for a turn higher, risk a close under 6337 for three days in a row.

Resistance is at 6592 and 6627 then 6642 beyond that sellers should appear near 6657 to 6672 and 6707

Oct. Hogs
Support is at 4307 below that 4247 and 4207 offer support.. Under that support is at 4122 to 4112

Resistance is at 4327 and 4402 then 4437..

Stay Tuned for Hog and Belly Flashes.

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide nearby support is at 114-09 then 113-24 to 113-21 and 113-09 under that buyers should appear near 112-20 and 112-11 and contain a decline for a while..Under that 112-00 and 111-17 offer support.. BW Traders can buy at 112-00 and risk a close under 111-17 for three days in a row.

On the Upside Nearby Resistance is at 114-25 and 115-05 then 115-20 .. Beyond that sellers should appear near 116-12 and 116-27

Sept. SP 500

On the DownSide Nearby Support is at 1322. MC Traders can buy at 1322 and hold for higher prices... Below that support is at 1310 BW Traders can buy at 1310 for a turn higher put your own risk on it and stay tuned. Under that support is at 1307 to 1304 Where it should hold on a decline basis the close. Below that buyers should appear near 1302.20 and 1300. Under that support is at 1289 and the 1274 to 1268 region...

Nearby Resistance is at 1334 and 1340 to 1341 beyond that a test of 1358.70 then 1361.50 is likely . MC Traders can sell at 1361.10 for a quick turn lower.. Put your own risk on it and stay tuned.. Beyond that resistance is at 1363.70 and 1371.20 ..A close over 1371.20 is friendly and augurs for a test of the 1377 to 1383 region Beyond that sellers should appear near 1399 to 1402...

Stay tuned for Flashes !

Dow Jones Industrial Avg.
Support is at 10,960 and 10,878 under that 10,820 should hold.

Resistance should appear near 11,010 a close over augurs for a test of 11,1155 and 11,189.5 and the 11,300 to 11,360 region.. Which should Cap a rally ...

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

Happy Trading

Bill

Aug. 19 1999
06:40 AM

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.

BW recommended Open Pos.

Long Dec. Gold at 261.2

Long Dec. Cotton at 5489

Long Dec. Bean Oil at 1703

Short Sept. Yen at 8723

Long Dec. Coffee at 9750

Long 2 Dec. Silver 1 at 525 and 1 at 526.5

Long Sept. C$ at 6762

Long Dec. bonds at 114-23
Long Oct. Hogs at 4307

Long 2 Dec. Wheat 1 at 287 1/4 and 289 1/4
Short Sept. Swiss at 6659
Long Dec. Copper at 7515
Short Oct. Heating Oil at 5830

Long Sept. British Pounds at 1.6188
Long Oct. Sugar at 610

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