wmeubank@ocp.kcmo.com
COMMODITY INSIGHT
152 Ennis Lake Road,
Ennis, Montana
(May 4, 1997) SOFTS: A week ago, sugar, coffee, cocoa and the petroleum complex all appeared to be in pretty good shape. Over the past five days however, each (not coffee!) has taken a hit and each ended the week on a very dismal note.
Actually, most markets were sloppy this week except for stocks, bonds, old-crop beans, meal, coffee and feeder cattle. If the coming week has as much weakness in it as last week, the bulls are going to have problems. And weakness for the coming week is exactly what all my work suggests is in store for investors and traders.
Therefore, for the next five days, sell (1) June CRB index at 245.25 (closed at 245,50) and (1) more at 246.90. Use a 250.00 stop close only on both trades.
Jerry F. Welch
Added to the WWW 05-09-97
Last updated on 05-09-97
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