FuturesCom Investment Publications

FuturesCom Investment Publications

Dedicated to Excellence in Analysis of Futures Markets
Morning Comments (MC) Tuesday, August 24, 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

5845 Autumn Ridge Rd Lake Worth Florida 33463 Voice 561-433-2995 Fax 561-433-9243 http://www.futurescom.com

Monday August 23, 1999
5:44 PM

On the Frenzied Forex Front

Sept. Japanese-Yen

Early Support is at 8974 to 8964 and 8934.a close under 8964 is negative and augurs for a test of 8871.

Nearby Resistance is at 9018 and 9045 to 9060 above that good sellers should appear near 9082.. Beyond that resistance is at 9118 to 9134.

Sept. D-Mark

Support should appear at 5356 to 5344 a close under 5344 augurs for a test of the 5282 to 5256 region and 5211 to 5200.

Resistance is at 5400 then 5418 and 5430 Beyond that sellers should appear near 5450 and the 5492 to 5504 region.

Day Traders can sell at 5418 and risk 40 pts.

Sept. Swiss

Nearby Support is at 6577 then 6543 and the 6509 to 6482 region. Below that 6430 to 6417 should hold BW traders can buy at 6430 for a bounce, risk a close under 6417 for two days in a row.

Resistance is at 6591. Day Traders can sell at 6591 and hold for lower prices..
Beyond that sellers should appear near 6636 to 6645 and the 6659 to 6673 region.

Sept. British Pound

Support should appear near 1.5962 and 1.5936, BW traders can buy at 1.5938 and risk a close under 1.5886 for two days in a row. Under that support is at 1.5886

and 1.5760 to 1.5690. Aggressive BW traders can buy at 1.5760 and hold. ..

Resistance is at 1.6090 and 1.6120 Beyond that resistance should appear

near 1.6550.

Sept. Canadian Dollar

Support should appear the 6659 region. Under that support is at 6629 to 6626.. where buyers should appear and stop the break..

Resistance is at 6682 then 6707 a close over 6707 is friendly and augurs for a test of the 6741 to 6755 region..

Stay tuned for FuturesCom's Forex flashes

Precious Metals

Dec. Gold

Nearby Support is at 255.2 and 252.60.

Resistance is at 257, a close over 257 is friendly and augurs for an eventual test of 261

to 262.

Dec. Copper

Nearby Support is at 7490. Below that support is at 7435 and 7325

Aggressive BW traders can buy at 7345, risk a close under 7250 for two days in a row..

Nearby Resistance is at 7530, a close over augurs for a test of 7610 to 7625 beyond that sellers should appear near 7725.

Oct. Platinum

Support is at 349.5 Under that support is at 345 to 344 and 340.

Resistance is at 354. Above that resistance should appear near the 356.8 and 360

Dec. Silver

On the DownSide nearby support is at 508 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 519 to 521 and 524. A close over 521 is friendly and augurs for an eventual test of 543

Trade Accordingly and Stay tuned for Flashes...

The Exciting Energies

Oct. Crude

Nearby Support is at 2170 and 2155. Below that support is at 2134 to 2126 and the 2088 to 2080 region. BW Traders can buy at 2088 and risk a close under 2080 for three days in a row

Resistance is at 2193 then 2219 to 2226 and the 2267 to 2275 region. 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 6411 and 6375 then 6350 to 6337, under that support is at

6270 to 6255.

Resistance should appear near 6418 to 6430 Beyond that resistance is at 6455 and 6480 to 6509 which should cap the rally if not 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 5833 and 5805 to 5792, a close under 5792 is negative and augurs for a test of 5729 to 5716 and 5685.

Resistance is at 5855 to 5880 Beyond that sellers should appear near the 5945 and 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 477 1/4 and 479 beyond that resistance is at 482 3/4.. A close 482 3/4 is friendly and augurs for a test of 496 and eventually 508 3/4.

Nearby Support is at 469, day traders can buy at 469 and hold for higher prices.

Below that support is at 464 and 455 then 452 1/4..

Dec. Soybean Meal

Resistance is at 145.3 to 145.9 and 149.6 A close over 149.6 is friendly and augurs for a test of 156.

Support is near 142.4 to 141.6 and 138.2 to 137.7

Dec. SoyBean Oil

Resistance is at 1731 to 1738 and 1774 to 1780 beyond that a test of the 1802 to 1822 region is likely.

Support is at 1696 to 1689 Day traders can buy at 1698 and hold for higher prices Below that support is at 1678 and the 1655 region.

Trade Accordingly and Stay tuned

Dec. Corn

Resistance is at 221 3/4 and 224 1/2 then 227 3/4 to 228 1/2.

Support is at 219 1/2 to 218 1/2 and 215. Below that support is at 213, BW traders can buy at 213 and risk a close under 207 1/2 for three days in a row

Dec. Wheat

Resistance is at 291.1/2 A close over 291 3/4 is friendly and augurs for a test of 295 to 297 Beyond that resistance is at 303

Support is at 285 1/2 and 283 1/4 under that 279 3/4 offers support.

The Satisfying Softs

Dec. Cotton

On the DownSide support is at 5230 and the 5211/ 5200 regions. Under that 5159 to 5127 should hold.. Aggressive BW traders can buy at 5127 and hold..

On the Upside Nearby Resistance is at 5270 and 5330 then 5356..

Oct. Sugar

Nearby Support is at 601 and 595 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 605 and 609 then 620 and the 630 to 634 region.

Trade Accordingly.

Dec. 'The Monster' Coffee

On the Upside, Resistance is at 9315 to 9340. beyond that sellers should appear near 9445 to 9460 and the 9545 to 9560 region.. a close over 9560 is friendly

On the DownSide, support is at 9155 to 9140. High Risk Day traders can buy at 9155 and hold for higher prices... Under that support is at 9060 to 9045 and 8954 to 8935.

Stay tuned...

Dec. Cocoa

Support is at 944 then 941 to 932 region under that 918 to 907 should hold..

Day traders can buy at 944 and hold for higher prices..

Resistance is at 955 and the 968 to 972 region. Above that sellers should

appear near 989 A close over 955 is friendly..

The Lively Livestock

Oct. Cattle

Support is at 6450 and 6432 to 6417. BW Traders can buy at 6432 for a turn higher, Risk a close under 6337 for three days in a row. Below that buyers should appear near

6352 to 6337..

Resistance is at 6492 and 6512 then 6567 and 6597

Oct. Hogs
Support is at 4582 and 4562 to 4542 , day traders can buy at 4562 and risk 100 pts. Below that 4517 to 4502 offers support.

Resistance is at 4647 to 4652 and 4697 to 4717 beyond that resistance is at 4747 to 4762 .Day traders can sell at 4762 for a quick turn lower, risk 50 pts.

Stay Tuned for Hog and Belly Flashes.

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide nearby support is at 114-15 under that support is at 113-29 to

113-26, day traders can buy at 113-29 and risk 12 pts. below that buyers should appear near 112-27 and contain a decline for a while.. Under that 112-00 offers 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 114-26 beyond that a test of 115-05 to 115-08 is likely.. Beyond that sellers should appear near 115-25 and 116-00

Sept. SP 500

On the DownSide Nearby Support is at 1361.50 to 1359.70 Day traders who have ice Water running through their veins can buy at 1361.50 and hold for higher prices. Below that support is at 1356..40 and 1352 then 1346. Day traders can buy at 1346. put your own risk on it and stay tuned. Under that support is at 1340 and 1334 and 1322

Nearby Resistance is at 1373.60 Beyond that a test of the 1377 to 1383 region is likely to occur. Beyond that sellers should appear near 1399 to 1402 .

Stay tuned for Flashes!

Dow Jones Industrial Avg.
Support is at 11,228.8 and 11,155 below that support is at 11,085 to 11,078 and 11,010 under that 10,960 should hold.

Resistance should appear near the 11,300 and 11,330 to 11,360.. Beyond that resistance is at 11,430 and 11,500.

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

Happy Trading

Bill

Monday Aug. 23 1999
6:46 PM

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.

MC recommended Open Pos. NONE

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 at 525.8 avg.

Long 2 Sept. C$ at 6718 avg

Long Dec. bonds at 114-23
Long 2 Dec. Wheat at 288 1/4 avg.
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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