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TAURUS COMMODITIES
133 W. Boscawen Street, Winchester, Virginia
(November 28, 1997) FINANCIAL INSTRUMENTS: EURODOLLARS–Our shorts actually look pretty good on the charts as a continuing drop to the underlying support at last month's lows around 94.170 seems a certainty, and if that level is decisively broken, we should then see a drop to the next significant support level, the August lows, all the way down at 93.960.
BONDS–Not quite able to move our stops up any here, nor with notes either, but one good day up would enable us to raise stops in both markets. We are bumping against significant overhead resistance at 120 even, but if that level does repel the advance, we could still take some decent profits out of our longs.
NOTES–A similar situation here as for bonds with the overhead resistance at about 112-08. If prices do push through that level convincingly (or the 120 level for bonds), then we are set for another leg up now that we've had the entire month of November with prices in a choppy sort of consolidation pattern.
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