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.
 

Thur March 12th 1998
8:40 PM

On the Frenzied Forex Front
 

June-J-Yen Recommended Position Long at 7828
Support  is at  7849 and  7821   Resistance is near 7901 and 7939.
 
June  Swiss Franc Recommended Position Long at 6813
Support should appear at  6797 and 6755  traders can buy at 6755 for a bounce, risk a trade under 6730. Resistance should begin at  6809 and 6836.  The close over 6809
augurs  for a trade to 6906. Resistance is near 6836 and 6843 to 6847. Beyond that 6906 is the near term upside target.

June British: Recommended Position short at 164.20
Support is at 164.20 to 163.86  below that Traders should buy at 161.50 for a turn higher  risk a close under 160.80 for two days in a row.  Resistance is at 165.50.

June D-Marks Recommended Position Long at 5475
Support is near  5492 and 5430. Resistance is near 5505 and 5532 beyond that 5553, a close over 5505 augurs for a test of 5553. Traders should add or go long on a close over 5505.

June Canadian Dollar
Support is near the 7077 to 7074, below that 7003 should hold. Traders can buy at 7003, risk a close under 6988.  Resistance is near  7127 to 7143 and 7170.   Sell near 7143, risk a close over 7170 for two days in a row.
 

Precious Metals
April Gold
Support is near 294.6  to 291 to 288. Position Traders should buy  weakness at 288.5 and Hold.   Resistance is near 296.8 a close over augurs  for a test of 303.4  and 307. A close over 303.6 is friendly for a trade to 310 and beyond. Go long on a close over 303.60
 

May Copper  Recommended Position Short at 8300
Support is at  8290 a close under augurs for a slip to 8170 below that , traders can buy at 7935 for a bounce, risk 100 pts. Below that   7770 should hold, go long for the ‘Pull ‘at 7775. Risk a close under 7680 for three days in a row. Resistance is at  8445 and 8515 beyond that 8565

April Platinum Recommended Position Long at 388
Support is near  384 and 382 Nearby resistance is  389.5  A close over  augurs for a test of   399
 
May Silver Recommended Position long at 628
Support is near 610.  Below that  596 and 578 should hold. Resistance is 622 and 636
Traders should exit at 636 today only

                             The Exciting Energies

April Crude Recommended Positions, long at 1603 and 1535
Resistance is 1424 and 1431 Beyond that 1449  Support  is 1399 to 1381  and it should hold

A close over 1429 is friendly .

April Unleaded Gas Recommended Position long at 5260  Hold
Resistance is  4755 and 4795. Support is 4600 and 4555

April Heating Oil Recommended Position Long at 4445 and 4320 Hold
Resistance is 4060 and 4095 to 4150 Support is  3995 and 3935 . A close over 4060 augurs for a pop to 4200 / 4250 .
 
 
 

The ‘Grande’ Grains

May Soybeans
Support is at  662 1/2 and 648. Resistance is near 676 1/2, a close over 676 augurs for a test of 688 to 693. Traders should go long at 661, risk a close under 644 for two days in a row.
 

July Beans Recommended Position: Long (2) at 663
Support is at 665 3/4 to 664 3/4 below that 658.
Resistance is  672 1/2   and  679, a close over 673 augurs for a test of 686

Friendly and then some.

May Soybean Meal
 Support is 176.1   Resistance is near and 178 and 182.

Traders should Go long on a close over 182.50

May Soybean Oil Recommended Position Short at 2724
Support is at  2734 , a close under augurs for a slip to 2710 and 2655 Resistance is near  2758 and 2775

May Corn Recommended Position Long at 271 and 276 3/4 and 279 1/2
Support is at  281  and 280 1/4   Resistance is near  285 and 290
Traders should go long at 275, risk a close under 271 for three days in a row.

Traders should exit 2/3 of the longs at 289
 

May Wheat
Support is near  346 and  340 1/2 to 338 3/4  Resistance is near 349 1/4  and 352. Traders can Buy at 338 3/4 for turn, risk a close  under 329 for two days in a row.

July Wheat  Long at  342
Support is at 354 1/2 and 348 3/4   Resistance is near 356 3/4 and 360 1/2  a close over 360 augurs for a ‘pop’ to near 366. Exit remaining longs at  364 if able. then look to buy dips

Be long.

                               The Satisfying Softs

May  Cotton Recommended Position Short at 6990
Support is  6948 under that 6922 and 6880  Resistance is  7022 , with more near  7031.
and 7075
 
May Sugar Recommended Position long at 925
Nearby support is 912 and 903  Resistance is near 926 and 951
A close over 926 augurs for a test of 951 to 968.

May  the 'Monster' Coffee Recommended Position Long at 156.90 , 153.30 and 147.50 .. Get the cups out . On the Downside, Support is at  145.30  Below that 144.20 and 142.10 should hold If the Coffee Cools off and trades down to 141.50 Traders should go long and  hold.
On the Upside, Early resistance is near 147.60 and 148.65  beyond that a rally to 151.20 is likely , a close over 151.20 is bullish with a target above that of  157.25

A close over 148.70 is friendly.

Pick Your Poison and Keep a Steel 'Cup’ handy.
 
May Cocoa
Resistance is 1617 Beyond that   1642 to 1661  offer's resistance. Traders can Go short at 1642. Risk a close over 1662 for two days in a row.  Support is near  1606  and 1596   then 1567, with 1535 under that. Traders can buy for a bounce at 1535, risk a close under 1529 for two days in a row.
 

                        The Lively Livestock

April Live Cattle Recommended Position Long at 6575
Support is 6512 and 6487 Resistance is near 6562 to 6577 and  6632. A close over 6632 augurs for a test of 6800 if it holds.

 April Hogs  Long  5145 (5015 and 5430 result of unwinding the spreads.)
Resistance is at 4922 and 4972 , traders should exit 2/3 of the longs at 4972 MIT. Today only  Support is near 4827 and  4777
 

June Hogs  Recommended Position Long at 5642 from the Pig Special Report.
Support is near 5632 and 5555 to 5532, traders can buy at 5522 for the ‘pull.'
Resistance is near 5712 to 5732 and 5755  The  close over 5627 augurs  for a test of  5712 then 5875.

Recommended Spread Position long   2 June  Short 2 Oct. at 290 over. Hold
The Spread closed at 502 ,a gain of over $ 800 on a margin of about $ 350 or so
the target is 650 + down the road , traders who may have taken profits should re-enter
and risk 150 pts, traders who have not entered  should do so and just hold.

* If June Hogs reach 6100 as I expect during may or June the spread should be at 650 or more ..stay tuned...

May Bellies  Recommended Position Long at 4160
Support is near 4027 , but there for a bounce, risk a 125 pts., more support is at  3927. Resistance is near  4297 , beyond that  4322  offer's resistance. Traders should go long  on a close over 4322  looking for a test of 4772.

I smell an 'End Run' coming..'From the Frying Pan into the Fire'
 

             The Sensational Stock and Bond Markets
 

June  30 Yr. Bonds Recommended Short Position at 120-31
Resistance is  121-19 and 121-24 to 122-04 Beyond that Resistance is near 122-12 and 122-27. Support is  near to 121-02 and 120-27, a close under 121-02 augurs for a slip to 120-02

June SP500 Recommended short at (4) 1084 ...Nuts
On the Downside, Support is at 1078 and 1077.90 below that  1068 offers good
support.  A close under 1077.90  augurs for a test of 1068. On the Upside, Early resistance is at 1084.85  where  day traders can sell for a turn  and hold Beyond that 1089.20
should cap the current rally...

A close under 1077.90 is negative and traders can add or go short when  it occurs.

The Dow Jones Industrial Avg.
Support is a t 8644.90 and 8623 with 8589 under that. A close under 8644 is negative for a pullback to 8589 and a test of 8558. Resistance is at  8676 to 8683, inability to close over 8683 today is negative ...More resistance is near 8695 which should cap the current rally ...
 
 

Happy Trading

Bill

Thur March 12 1998
10:07  PM

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