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Morning Comments, September 13th ,2001
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"Among the hazards of speculation the happening of the unexpected -I might even say the unexpectable - ranks high. There are certain chances that the most prudent man is justified in taking - chances that he must take if he wishes to be more than a mercantile mollusk" -- Reminiscences of a Stock operator--
Morning
Comments
Thursday Sept 13th, 2001
6:00 AM
This Edition of Morning Comments includes coverage of of only the Chicago
Futures Markets that will be
open on Thursday. As of this writing when the NY markets open again is
still in limbo..
Our
prayers go out to the families of the victims of the attack on NY and
Washington...
No words can express the sheer horror and agony of it..
Financial Markets
On the
Frenzied Forex Front
December
Japanese Yen
Support should appear near 8351
and 8314 to
8300 and 8263. Below that a test of 8223 to 8194 is likely
Resistance
should appear near the 8407 then 8484 to 8499 and the 8560 to 8589
region..BW Traders can sell at 8560 and risk a close over 8591 for three days in
a row..
December
Euro FX
Support
is at
9060
to 9044 then 8964 to
8949 and 8934.
Resistance
is
at should appear near9140 to 9156 and 9234 region.. .
Stay tuned for Updates…
December
Swiss Franc
Resistance
should appear near 6023 to 6035 beyond
that sellers should appear near 6101 to 6113 and
6164 to 6190
Support should appear near 5957 to
5945 and 5912. A close under 5912 is negative and augurs for a test of 5880 to 5855
and eventually the 5805 to 5792 region..
December
British Pound
Support
should appear near
1.4590 to 1.4530 .. A slip
under augurs for a test of 1.4372 and the 1.4210
to 1.4150 region. BW Traders can buy at 1.4120 and risk a close under 1.4140 for three
days in a row..
Resistance is at 1.4710 and the 1.4840 to 1.4960 region
December
Canadian Dollar
Support
should appear at 6383 then 6350 to
6337
Resistance
is at 6417 to 6430
December Australian Dollar
Support is
at 5139 to 5127 and the 5067 to 5056 region..Below that a test of 4995 to 4973
is likely
Resistance should appear near 5200 to 5211 and the 5259 to 5282 region
Sensational Bond Market
30 Year December
Bonds
Resistance
should appear near 106-04 and 106-12 then
107-07
Support
is at 105-22 then 105-17 and 104-12 to 104-07 failure there augurs for an
test of 103-17.. Below that support is at
103-07 and 102-23, BW traders can buy at 102-23 and risk a close under 102-06 for
three days in a row.
The
Lively Livestock Markets
October
Cattle
Nearby Support should appear near the 7172 to 7137 region.
Resistance is at 7242 to 7257 a close over is friendly and augurs for a test of 7327 to 7342
October
Hogs
Support
is at the 6037 to 6022 and 5957 to 5942
Resistance
is at the 6102 to 6112 region..
Stay
Tuned for updates
December
Hogs
Support
is at 5652 to 5642 and 5577 to 5552
Resistance is at 5717 to 5732 and the 5792 to 5807 region.
February Pork Bellies
Support should
appear near 8407 to 8392 and 8317 to 8302 . Below that buyers should appear near
8227 to 8197
Resistance
is
at 8487 to 8502 and 8557 to 8587.
Stay tuned for Livestock Updates and Flashes
The ‘Grand’ Grain Markets
November
Soybeans
Nearby Resistance
is at 471 3/4 and the 477 1/2 to 478 3/4 region
, an extended trade or close over 478 3/4 is friendly and augurs for an
eventual test of the 484 1/2 to 485
3/4 region..
Nearby Support should appear near 465 to 463 3/4 and the contain a decline for a bit
Stay tuned for Updates
December
Soybean Meal
Resistance
should appear near the 164.2 to
165.5 , a close over 165.5 is friendly and augurs for a test of 168.9 to
169.6 .
Support
is at 161.5 to 160.9.. Below that
support should appear near 157.6 to 156
BW Traders should go long if a close over 165.5
occurs..
December
Soybean Oil
Support
is near 1642 and 1615 to
1609.Under that buyers should emerge near the 1576 to 1569 region
Resistance
should appear near the 1689 to 1696.
December
Corn
Resistance should appear near 226 3/4
to 227 1/2 and 231 1/2 to 232
1/4
Support should appear near
222 3/43 to
221 3/4 should contain a decline
for a bit..
December
Wheat
Support
should appear near 277
1/2 to 275 3/4 and 272
1/2 to 271 3/4.
Resistance
is at 282 to 282 3/4
and the 287 3/4 to 288 1/4 region ..
Stay Tune for Updates and Flashes..
--A
ship in Harbor is Safe.. But that's not what ships are built for --
Happy
Trading !
Bill !
Thursday
September 13th, 2001
7:15 AM
ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS REQUIRED PRIOR
TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING ARE 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.
Bi
Weekly Investment Outlook (BW)
Archives: http://www.futurescom.com/bwparc.htm
Recommended Open positions as of 9-12-2001
Short Dec Yen 8342
Short Dec EC 8980
Short Dec Swiss 6250
Short Dec British Pounds 1.4900
Long 2 Dec Canadian Dollar 6390
Long
Dec Gold 277.6
Long Dec Copper 6790
Long Dec Silver 424
Short Oct Unleaded Gas 8195
Long Oct Cattle 7342
Long 2 Dec Hogs 5632 avg.
Long Nov Beans 486
Long Dec Soymeal 165.5
Long Dec Corn 227 3/4
Long Dec Wheat 291 3/4
Long Dec Coffee 5305
Long Dec Cocoa 942
-----------------------------------------------------------------------------------------
Morning Comments (MC)
Archive http://www.futurescom.com/mcper01.html
------------------------------------------------------------------
Premier
Service
http://www.futurescom.com/premier.htm
Recommended
Open Positions as of 9-12-2001
Short 5 Dec Yen 8345
Short
10 Dec EC 8996 avg.
Short 15 Dec Swiss 5939 avg.
Short 10 Dec British Pounds 1.5500
Short 5 Dec
Bonds 104-21
Long
5 Dec Gold 278.4
Long 5 Dec Copper 6950
Long 20 Dec Hogs 5527
Long
15 Nov Beans 493 3/4 avg.
Long
15 Dec Soymeal 164.7 avg.
Long 20 Dec Wheat 287
Long 10 Dec Corn 227 3/4
Long 5 Dec Coffee 5500
Index
Program
Archives: http://www.futurescom.com/index01.htm
Recommended Open position as of 09-12-2001
Long 4 Sept SP500 1117.50