FuturesCom

FuturesCom Investment Publications

Dedicated to Excellence in Analysis of Futures Markets
Morning Comments (MC) Tues., August 31, 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

Mon. August 30, 1999
6:22 PM

On the Frenzied Forex Front

Sept. Japanese-Yen

Nearby Support should appear near the 9045 and 9019 to 9014 then 8993 under that buyers should appear near the 8964 to 8934 region

Nearby Resistance is at 9060 Beyond that good sellers should appear resistance at 9114 and the 9140 to 9156 region Aggressive BW traders should consider going short is a close under 8934 occurs.

Sept. Swiss

Support is at 6543 and 6529. Below that buyers should appear near 6509 and 6462,

BW traders can buy at 6462 for a turn higher, risk a close under 6451 for two days in a row. Under that 6430 to 6417 offers support. A close under 6417 is negative and augurs for a test of 6350 to 6337.

Resistance is at 6577 to 6591 and 6609.. Beyond that sellers should appear near the 6659 to 6673 region. BW Traders can sell at 6659 risk a close over 6673 for three days in a row. Beyond that sellers should appear near 6741 to 6755 and cap a rally... Above that resistance is at 6809 to 6836..

Sept. D-Mark

Nearby Support should appear at 5344 and 5314.

Resistance is at 5418 to 5430. BW Traders can sell at 5418 for a turn lower, risk a close over 5430 for three days in a row. Beyond that sellers should appear near 5462 and the 5492 to 5504 region.

Trade accordingly

BW Traders should go short if a close under 5344 occurs.

Sept. British Pound

Support should appear near 1.5892, under that 1.5760 should contain the decline.. Aggressive BW traders can buy at 1.5760 and hold.. Below that support is at 1.5690 and 1.5520

Resistance is at 1.5920 a close over 1.5920 is friendly and augurs for a test of 1.6026 and 1.6090. Beyond that is at resistance 1.6150. Above that sellers should appear near 1.6220

Sept. Canadian Dollar

Support should appear at 6684 and 6673 to 6659. Aggressive BW traders can buy a dip to 6673 and risk close under 6658 for three days in a row.

Resistance is at 6734 and the 6741 to 6755 region. A close over 6741 augurs for a test of 6784 then 6809 eventually 6836.

BW Traders should go long if a close over 6741 occurs.

Stay tuned for FuturesCom's Forex flashes

Precious Metals

Dec. Gold

Nearby Support is at 255.2. Below that support is at 254.5 and 253.5 and 251.9 to 251.1 which should hold over the near term.

Resistance is at 256.5 to 256.8 and 258.4 beyond that sellers should appear near 261.20 to 262 and 266.3 to 267.2

Dec. Copper

Nearby Support is at 7605 to 7590. Under that support is at 7565 to 7550 , day traders can buy at 7565 and risk 125 pts. Below that support is at 7515 and 7465.

Nearby Resistance is at 7675 and 7690 , a close over 7690 is friendly and augurs for a test of resistance near 7755 to 7780. Beyond that a trade towards 7890 then 7940 to 7955 is likely

BW Traders should go long if a close over 7690 occurs.

Oct. Platinum

Support is at 346.5 and 339.6. Under that support is at 337 to 336 and 334.

Resistance is at 349.80 and 350.30 beyond that a test of 354.5 to 357

Dec. Silver

On the DownSide nearby support is at 513,5 and 507 to 505 then 496.. 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 520 and 526, a close over 526 is friendly and augurs for a test of 536 to 538. Beyond that resistance is at 552 and 558

BW Traders should go long if a close over 526 occurs .

Trade Accordingly and Stay tuned for Flashes...

The Exciting Energies

Oct. Crude

Nearby Support is at 2191 to 2185, a slip under augurs for a test of 2164 and 2157.

Day traders can buy at 2157 , risk 40 pts . Below that support is at 2134 to 2126.

Trade accordingly

Resistance is at 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.

Trade Accordingly.

Oct. Unleaded Gas

Nearby Support is at 6469 and 6430 to 6417 . Day Traders can buy at 6430 for a turn higher , risk 50 pts..

Resistance should appear at 6577 to 6591 and 6611 then 6659 to 6673.. 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 5766 to 5740 and 5653 to 5640 then 5577 to 5553, BW traders can buy at 5577 and risk a close under 5550 for three days in a row...

Resistance is at 5805 and then 5830 to 5855 region. Beyond that sellers should

appear 5945 to 5967 and the 6023 to 6035 region aggressive BW traders can sell at 6023 and hold for lower prices. Risk a close over 6035 for two days In a row.

Trade Accordingly.

The Grand Grains

November Beans

Nearby Resistance is at 472 to 472 1/2. A an extended trade or close over 473 1/2 is friendly and augurs for a test of 483 1/2 to 485 1/2 where sellers may appear.

Support is at 465 1/2 and 462 to 458.

Traders should go long if a close over 473 1/2 occurs...

Dec. Soybean Meal

Resistance is at 143.5 and 145.3 to 145.9. Beyond that sellers should appear near 146.8 and 148.4 to 149.6.

Support is near 138.2 to 137.7. BW traders can buy at 138.2 hold for higher prices..

Dec. SoyBean Oil

Resistance is at 1731 to 1738. A close over 1738 is friendly and augurs for a test of 1774 to 1780 region..
Support is at 1696 to 1689. BW Traders can buy at 1696 and risk a close under 1642 for three days in a row.

Trade Accordingly and Stay tuned

Dec. Corn

Resistance is at 217 1/2 and 218 3/4 then 221 1/2.

Support is at 214 1/2 and 211 1/2 traders can buy at 212 and risk a close under

207 1/2 for three days in a row, under that support is at 206 3/4.

Dec. Wheat

Resistance is at 278 3/4 to 281 1/2 .. Day traders can sell at 279 3/4 risk 5 cents
A close over 281 is friendly and augurs for a test of 287 and 292 to 293 3/4

BW Traders should go long if a close over 281 3/4 occurs..

Support is at 275. Below that support is at 269 1/2. BW Traders can buy at

269 1/2 and hold for higher prices. Below that support is at 263.

The Satisfying Softs

Oct. Sugar

Nearby Support is at 669 and 661 to 656 aggressive day traders can buy at 661 and risk 30 pts under that support is at 639 and 630 to 634.

Resistance should appear at 682 to 684 beyond that sellers should appear near 704 to 712 and 718. Day traders can sell at 718 and risk only 20 pts.

Dec. 'The Monster' Coffee

On the Upside, Resistance is at 8995 and 9005 then 9125. Day traders can sell at 8995 for a quick turn lower risk 150 pts.

On the DownSide, support is near 8855 and 8805. Below that 8705 to 8685 should hold and contain a decline. BW Traders can buy at 8705 and risk a close under 8580 for three days in a row.

BW Traders should go long if a close over 9175 occurs.

Dec. Cocoa

Support is at 922 and 912 to 907 Traders can buy at 922, risk a close under 907 for three days in a row. Below that support is at 904 to 899 and the 882 to 877 region

under that 852 to 847 should hold..

Resistance is at 941 and 952 to 954. A close over 954 is friendly and augurs for a test of 968 to 972 and eventually the 1000 to 1005 region and beyond toward the 1034 and 1058 to 1068 regions.. if it holds..

BW Traders should go long if a close over 941 occurs..

Trade accordingly and stay tuned for flashes..

Dec. Cotton

On the DownSide support is at 5013 to 4973 which should contain the decline for a bit.. Under that buyers should appear near 4926 to 4915..Under that 4856 to 4545 offer support as does the 4717 to 4695 region..

On the Upside Nearby Resistance is at 5036 and 5059 beyond that a test of 5127 to 5139/5144 is likely.. a close over 5144 is friendly and augurs for a test of 52 15 and the 5259 to 5282 region Beyond that resistance is at 5314 and 5356..

BW Traders should go long if a close over 5144 occurs..

The Lively Livestock

Oct. Cattle

Support is at 6672 then 6647 and 6622 under that support is at 6587 to 6572 and 6552. BW Traders can buy at 6587 for a turn higher, risk a close under 6507 for three days in a row.

Resistance is at 6722 and 6737 and the 6742 to 6757 region. Beyond that

resistance is at 6807 and the 6837 region..Traders can sell at 6807 and risk a close over 6837 for three days in a row.

Oct. Hogs
Support is at 4572 under that support is at 4517 to 4507 and 4487 to 4487.

Resistance is at 4582 and then 4677 to 4692 Day traders can sell at 4692 and risk 50 pts. A close over 4717 is friendly and augurs for a test of 4777 to 4797.

Traders Stay Tuned for Flashes in the Livestock Complex.

The Sensational Stock and Bond Markets

Dec. Bonds

On The DownSide nearby support is at 114-07 and 114-00 BW Traders can buy at 113-31 and risk a close under 113-18 for three days in a row.

On the Upside Nearby Resistance is at 114-13 and 114-20 then 115-00

Sept. SP 500

On the DownSide Nearby Support is at should appear near 1322. to 1321.40. Under that support is at 1310.80 to 1310. BW Traders can buy at 1310 for a good turn higher, risk a close under 1304 for two days in a row. Below that support is at 1292 to 1289 then 1277 and the 1274 to 1268 region which should contain a decline.. Failure there would indicates a test of 1253 to 1247 and 1238 to 1232, under that Buyers should appear near 1217.5 stop a break..

* BW Traders should go long if a close over 1334 occurs.

Nearby Resistance is at 1331.30 to 1334 and 1340 to 1342.30 . An extended trade or close over 1342.20 is friendly and augurs for a test of 1346 and 1355 then 1361.50 to 1362.20 Aggressive BW traders can sell at 1361.50 and risk a close over 1362.20.

Stay tuned for Flashes ...

Dec. SP 500

On the DownSide Nearby Support is at 1340 and 1322.. BW Traders can buy at 1322 for a good bounce, put your own risk on it and stay tuned.. Under that a support is at 1310 to 1304 and 1289 below that buyers should appear near 1274 to 1268 and stop a break.

Nearby Resistance is at 1344 to 1346, a close over 1346 is friendly and augurs for a test of 1361.50 then 1372.40 and 1375 to 1377. An extended trade or close over 1377 is friendly and augurs for a test of 1383.. A close over 1383 augurs for a touch of 1392 Beyond that sellers should appear near 1399, a close over 1399 is friendly and augurs for a test of 1407 and eventually the 1415 to 1421 region. Beyond that resistance is near 1437 to 1440, traders can sell at 1437 for a quick turn lower, put your risk on it and stay tuned Beyond that resistance is at 1453 to 1459 and 1470 to 1471.50.

Dow Jones Industrial Avg.
Support is at 10,873 and 10,820 to 10,790. Below that 10,680 and 10,630 to 10,580 offers support.

Resistance should appear near 10,946 to 10,960 Beyond that resistance is at 10,985 and the 11,010 to 11,015 region.

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

Happy Trading

Bill

Aug. 30 1999
8:02 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.

BW recommended Open Pos. as of 8-28-99
Long 2 Dec. Gold at 258.2 avg.

Long 2 Dec. Cotton at 5308 avg.

Long Dec. Bean Oil at 1703

Short 2 Sept. Yen at 8895 avg.

Long Dec. Coffee at 9750

Long Dec. Silver at 526.5

Long 2 Sept. British Pounds at 1.516 avg.

Long Sept. SP500 at 1340

Long Dec. Copper at 7605

Long Oct. sugar at 670

Long Dec. Unleaded Gas at 6528

MC recommended Open Pos.

Long 2 Dec. SP500 at 1331

**FuturesCom is Not Responsible for Transmission Errors and Omissions**