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The Carolina-Chicago connection are trades that I suggest with a
fellow`S&P trader. I am not connected with marketline or the
brokerage firm that is sponsoring this. In short, not dough rae me.
Simce many of my trades I have tried to incorporate a rationale behind the
trade. I am not selling the newsletter. But trying to incorporate trading
ideas for your consideration. Much of the rationale is FUNDAMENTAL...oh my
gawd did I say the F word. Sorry.
-----Original Message-----
From: Marketline <marketline_pow@xxxxxxxxx>
To: marketline@xxxxxxx <marketline@xxxxxxx>
Date: Tuesday, July 28, 1998 3:46 PM
Subject: Picks of the Week: July 27
>PICKS OF THE WEEK
>Here is your FREE PICKS OF THE WEEK bulletin courtesy of TRADELINE
>Brokerage Services. Now you can discover in minutes what some of the
>top researchers in the business predict for the week ahead. This
>condensed, fast-paced, easy-to-read bulletin identifies the markets to
>watch and gives you specific buy/sell recommendations. PICKS OF THE
>WEEK is a weekly trading advisory report published by MARKETLINE
>Information Services. The trading suggestions are submitted by leading
>newsletter publishers registered as Commodity Trading Advisors and
>reprinted with their permission. They are provided as a compilation of
>trading ideas to help individual speculators uncover new potential
>profit opportunities that may be emerging in the commodity markets.
>You can receive PICKS OF THE WEEK via mail, facsimile or E-Mail by
>calling (800) 900-8000.
>
>How To Trade the Picks of the Week
>If you would like more information about how to design a trading
>portfolio based on the PICKS OF THE WEEK, please call (800) 900-8000.
>One of TRADELINE's licensed commodity representatives will help you
>formulate a trading plan based upon your experience and financial
>situation. There's no pressure, no hassles and no minimums! TRADELINE
>prides itself on its exceptional service and efficiency. We are
>absolutely certain that if you open an account at TRADELINE you'll be
>satisfied. No other brokerage firm in the country can provide such a
>winning combination - the PICKS OF THE WEEK recommendations and
>exemplary service. So now it's up to you! We only want the opportunity
>to prove that we can service your account better than anyone else. If
>you are looking for a simple way to take advantage of these dynamic
>trading opportunities, give us a call today at (800) 900-8000.
>
>xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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>PICKS OF THE WEEK PICKS OF THE WEEK PICKS OF THE WEEK PICKS OF THE
>WEEK PICKS OF THE WEEK
>xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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>
>PICKS OF THE WEEK
>For the commodity trading week of
>July 27, 1998
>
>Fax: (949) 863-1649
>E-mail: marketline@xxxxxxx
>
>We'd appreciate your opinion...Do you like this NEW weekly bulletin?
>Please give us your comments on what you like best about the PICKS OF
>THE WEEK. E-mail Mary at the address: marketline@xxxxxxx Thank you.
>
>Traders Alert! Keep your eye on the weather! Watch the grains! Prices
>could take off! Hot 100 is no hit in U.S. South. How hot is it? A sign
>at a Houston car wash might say it best: "Who put Viagra in the
>thermometer?" But the heat wave broiling the United States from coast
>to coast - especially in the Southwest - is deadly serious. The hot,
>humid weather is blamed for at least 129 deaths in seven states. Last
>rain in Texas was on March 14! Some quotes from ABC News - It's so hot
>the fields are melting - In the Pan Handle it's so hot, there is a
>fire everyday! Cotton should be 15 inches high by now but the seeds
>have dried up on the ground - Farmers are selling herds early before
>they lose weight - Texas drought so severe they've applied for Federal
>Disaster Aid. For trade execution, call (800) 900-8000 or (800)
>680-8100.
>
>COMMODITY RESEARCH BUREAU - For subscription information call
>800-621-5271
>"BLUE LINE" Daily Commodity Outlooks & Updates by Voice Call:
>900-454-2583 ($1.33/minute)
>Sell September Bond - While there is a chance that bonds will be
>lucky and see a slow resolution to the Asian crisis, we think the dye
>is cast for the formation of a major top or and possibly for the
>beginning of a major downtrend. We have long thought that the
>magnitude of the flight to quality premium factored into bond prices
>was as much as 5 or 6 full points. Now, the time has come to see that
>premium withdraw. The fluctuation in the September bond contract
>between 124-14 and 121-30 indicates the trade is concerned about a
>shift in fundamentals, but has yet to make a complete shift in
>sentiment. The comments made to the US Congress in the
>Humphrey-Hawkins testimony suggests that the Federal Reserve is not
>concerned with recessionary potentials and the Asian crisis is an
>impact, but is becoming a passing story since the Federal Reserve is
>not concerned with its recessionary potential. "Over the last several
>years, we have seen a number of excellent forecasts by the US Federal
>Reserve Chairman regarding economic trends and since announcing last
>week he has yet to see an end to the Asian crisis, we are forced to
>remain a seller as high in the current range as possible until such
>confirmation is found. We think the markets are very close to finding
>the solution and that every new development could be the one that tips
>the scale. With last week's selection of a new Japanese Prime
>Minister, it is possible the Banking scare will take a back seat to
>better consumer confidence. Another critical point from last week's
>Congressional testimony was the Fed made it a point to stress that
>inflation was being monitored closely. In fact, the Chairman mentioned
>so many indicators the Fed was using in the jobs and payroll area that
>we can't list them in this article. Since the Fed suggested the
>unemployment rate might even fall further into the end of the year, it
>is clear the Asian crisis is not a total focus. The question of where
>the Dollar heads continues to be the linchpin of the Bonds as a major
>turn in the Dollar could smoke out huge foreign ownership and begin
>the process of removing flight to quality premium. Flight to quality
>buyers are not in because of yield differentials, but are in because
>of shorter term opportunities. if they see the tide is turning, a
>certain amount will move to liquidate thereby pulling down the record
>open interest in bonds and returning prices quickly to the 118 level
>basis the nearby contract. Suggested Trading Strategy: Sell September
>bonds at 123-13 with an objective of 121-14. Risk the trade to a close
>above 124.09.
>
>MOORE RESEARCH CENTER - For subscription information call (800) 927-7259
>July Trade Outlook - FOREX - Likewise, franc and mark have both tended
>to rise from June lows into Fourth Quarter. Coincidence? Just as is
>the case with financial instruments, the franc and mark have moved
>erratically toward their usual destinations. From longer-term
>perspectives (monthly charts), both have essentially moved sideways in
>a relatively well-defined range for almost a year (mark) or even more
>(franc). The pertinent question becomes, "Are these bottoms forming -
>or continuation patterns at the halfway point of major moves?" The
>answer should be indicated by a breakout from those ranges. Watch
>early April's lows and last November's highs. July Strategies: Buy Dec
>Deutsche Mark on July 29th, exit on October 19th. Past 15 years, this
>trade has 80% win percent. (12 of last 15 years.)
>
>HIGHTOWER REPORT - For subscription information call (800) 662-9346 or
>visit futures-research.com
>Commodity Outlooks & Updates by Voice Call: 900-884-8406 ($1.33/minute)
>September Crude Oil - In the energy complex the conditions went from
>bad to worse with supply into the US becoming what we would call a
>"wall of supply". Since the oil producers have kept secret the
>performance of the production cuts thus far, the majority of the
>visible factors on supply have become even more bearish. Already crude
>stocks stand at 341 million barrels compared to 318 million last year
>and with daily production running ahead of last year we would expect
>more rebuilding. After anticipating that daily gasoline demand would
>be a record for most of the summer we have actually seen no records.
>In fact the only time implied gasoline demand
>approached the critical 9 million barrel per day level was in the July
>21st API report! While it is still possible that the implemented
>production cuts will have some impact, without a clear end to the
>Asian crisis seen prior to the North American consumption season it
>will be extremely difficult to tighten supply enough to spark
>sustained price gains in the futures. It is very possible that the oil
>producers will have to go back to the table a third time to extort
>cuts just to balance the daily use to production. In the near-term the
>ebb and flow of fears from Asia leave the door open for energy prices
>to continue lower especially in the slack fall demand period.
>Suggested Trading Strategy: Sell September crude at 15.03 with an
>objective of 13.30. Risk the trade to a close above 15.99.
>
>PAST PRESENT FUTURES - For subscription information call (800) 545-9331
>Copper - In our last recommendation we said, "after breaking the 1993
>and early1998 lows at 72.10 and 72.20 basis the copper nearest
>futures, the market has remained very quiet. There is the strong
>likelihood that the selling is close to having run its course. If so,
>we could enter long positions for as much as a 35% advance by
>December. Continue working orders: On a rally to 73.90 in the July
>copper, buy the December copper at-the-market. If filled, place
>protective sell stops just beneath the contract lows in the December
>copper."
>As it turned out, the copper reversed higher and allowed us to enter
>long positions on the wide range high close at 75.00 in the December
>copper on July 13. If you took this trade with us, you have profits of
>3.60 points ($900 per contract) as of the close on Wednesday, July 22.
>Continue working protective sell stops in the December copper at
>72.25. Keep in mind, we are forecasted that an historic low is now in
>place. If this projection is correct, the market should advance as
>much as 35% by December. This would give us an objective to 97.60.
>That would amount to a profit of over $5600 per contract profit. The
>next two markets which we have projected for establishing historic
>"investment" lows are the wheat and oats. We will talk about both of
>these situations in greater depth in our next update.
>
>COMMODITY FUTURES FORECAST - For subscription information call (800)
>336-1818 or visit: commodex.com
>Grains - Profits of 111% ($900.) were taken on your short July Wheat,
>sold at 2.83-1/2 as you covered on open at 2.65-1/2. Hold short Sept.
>Wheat, sold at 2.73 on open, keeping 2.84-1/2 stop. Drop stop to entry
>after 2.55-1/4. Lower stop to 2.57 after 2.46-1/2. No goals. POSITION:
>Short Sept. Wheat @ 2.73. STOP: 2.84-1/2. PROFIT: 45%. Hold short Dec.
>Corn, sold at 2.40. Stop is now entry, having made our 2.32 objective.
>Lower stop to 2.41 after 2.28-3/4. Drop stop to 2.36 after test of
>2.23-1/2. Still no goals. POSITION: Short Dec.Corn @ 2.40. STOP: 2.40
>PROFIT: 120%.
>
>PROFARMER - AG TRADER - For subscription information call (800)
>635-3936 or visit: profarmer. com
>Cotton futures continue to flirt with uptrending support formed off
>the April swing lows. With funds holding a net long position, a move
>through this support and the July low of 71.80 would cause them to
>liquidate long positions and would likely inspire them to assume a net
>short position. As a result, sell December cotton on a move through
>71.80. Risk 200 points ($1000/contract) from your entry point on the
>move. But lower your stop aggressively on a drop below 70.00, as
>futures shouldn't move back above the 71.80 level once they push
>through it. Initial objective is 66.90 on the position. If futures
>should happen to put together one last rally before a selloff is seen,
>sell December cotton on a failure at 75.00. Downside potential would
>be the same. Risk this position to 76.70.
>
>
>ELLIOTT WAVE INSTITUTE - For subscription information call (800)
>636-9283, Fax (949) 493-9149
>or write to our e-mail address: NEoWave@xxxxxxxx
>Cash S & P 500- Review/Strategy: Wednesday's wash-out dropped into
>the bottoming range predicted for this decline (i.e. below 1160, but
>above 1140). Daily M.O.A.T. support was not hit, so a little more
>downside could occur later this week. Stand aside Thurs.
>Forecast (next 24 to 48 hours): NEoWave( time and price requirements
>for this week's decline have not been met yet. This decline must
>contain at least nine monowaves and we must wait until at least Friday
>before going Long.
>
>FORTUCAST COMPREHENSIVE COMMODITY MARKET TIMING SERVICES -
>For FREE trial subscription contact (800) 788-2796 or Fax 520-284-3391
>or e-mail fortcast@xxxxxxxxxx
>SEPT. S & P- Two weeks ago, we reminded you about an impending top for
>the Sept. S & P in the 1194-1197 region in the July 20-21st time
>window. We have just begun a serious move lower and traders, who feel
>that they have missed the boat should still be able to find new
>opportunities. The Sept. S & P is likely to complete the first part
>of the move lower in the 1118-1122 region and then have a 3 wave
>bounce into the August 4-5th time window. Depending on where exactly
>the low is on July 29th, we would expect a 50 or 62% bounce that
>should at least go back up toward the 1156-1162 region. The time
>window of August 4-5th will be an important place to enter new shorts
>for those who missed the boat. Contact our daily services and
>intraday hotlines to stay on top of this fast moving market.
>
>DYNAMIC TRADERS GROUP, INC. - For subscription information visit:
>dynamictraders.com
>September Bonds
>Bonds are in the projected time and price zone for a corrective low. A
>low should be made no later than Tuesday, July 21 and no lower than
>121.08. At this point in time, it is not clear if a low made in this
>time and price zone will be followed by a continued bull trend to new
>highs. My longer term time analysis projects a major top should not be
>complete prior to July 24 which implies the July 2 high should be
>exceeded in the weeks ahead. As long as bonds have not closed below
>121.08, trail a buy stop one tick above the prior day's high to enter
>a long position. Place the initial protective sell stop one tick below
>the recent low. If trading multiple units, take profit on the short
>term position at 123.08.
>
>CAROLINA/CHICAGO CONNECTION - For subscription information call (800)
>234-8540
>or e-mail us at: carcc101@xxxxxxx
>The Strategy: Buy December Cotton-Sell October Cotton
>Tuesday, July 21st closing prices were: Buy December Cotton 72.61,
>Sell October Cotton 75.76, Spread Price = 3.15. Risk 2.00 on this
>spread-down to 5.15. This is a $1,000 risk. The objective is open at
>this time. We expect at least even money. There will be a follow-up
>later. This spread has worked from mid-July to early Fall 8 of the
>past 10 years. There are several fundamental reasons why this works.
>We have a 5 page report on this spread that is available upon request.
>
>
>
>PICKS OF THE WEEK is a weekly trading advisory bulletin published by
>MARKETLINE Information Services. The trading suggestions are submitted
>by leading newsletter publishers and reprinted with their permission.
>TRADELINE Brokerage Services and its associates assume no
>responsibility for the outcome of any of these trade recommendations.
>They are provided as a compilation of trading ideas to help individual
>speculators uncover new potential profit opportunities that may be
>emerging in the commodity markets. Be sure to take advantage of their
>FREE trial subscription offers! As always, futures trading does
>involve risk and past performance is not necessarily indicative of
>future results. You can receive PICKS OF THE WEEK by mail, facsimile
>or e-mail by calling (800) 900-8000. Write or call us with any
>questions or comments.
>
>
>
>
>
>
>
>
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