wmeubank@ocp.kcmo.com
COMMODITY INSIGHT
152 Ennis Lake Road, Ennis, Montana
(November 13, 1997) CURRENCIES: Like a moth to a flame I am once again going to attempt to establish a long position in the Canadian Dollar. With the Bank of Canada raising rates to support their own currency and the fact that they were aggressive buyers of the Canuck this week. I would like to probe the long side of the market. For the next five days, buy (1) March Canuck at 0.7100. Use at 0.7022, intra-day stop.
Also, I have a buy signal for the Japanese Yen. It is the first buy signal that I have had for that currency since last spring when I missed being long at the 0.8150 level and then watched it soar to 0.9100 in a heartbeat.
For the next five days, buy (1) March Japanese Yen at .08100 with an intra-day stop of 0.8017. For now, that's all I wish to do in the currencies.
Jerry F. Welch
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