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Morning
Comments, December 4th, 2001
Experienced
Since 1979 - Serving Professional and Individual Traders World Wide since 1988
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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 ,
Monday December 3rd, 2001
3:40 AM
Financial Markets
On the
Frenzied Forex Front
December
Japanese Yen
Support should appear near the 8044 to
8029 region.. BW Traders can buy at 8045 for a turn higher and risk a close under 7955 for three
days in a row..
Resistance
should appear near 8081 then 8119 to 8134 and the 8195 to 8223
region.
BW Traders should go long if a close over 8134 occurs
December
Euro FX
Recommended open position long 8902
Support
is at 8901..Below that buyers should appear
near 8871 to 8856 and 8818.
Resistance
is
at 8934 to 8964..A close over is friendly and augurs for a an eventual test
of 9044 to 9060
Aggressive BW traders should go long if a close over 8964 occurs..stay tuned for Updates…
December
Swiss Franc
Recommended open position long 6068
Resistance
should appear near 6068 and 6101 to
6113..
Support should appear near
the
6035 to 6023 region.
December
British Pound
Support
should appear near 1.4210 to 1.4150
and should contain a decline
Resistance is at 1.4286 and 1.4336
December
Canadian Dollar
Support
should appear at 6337 and 6270 to
6256...BW Traders can buy at 6305 and risk a close under 6255 for three days in a
row.
Resistance
is at 6357 and 6417 to 6430.
December Australian Dollar
Recommended open position long at 5176
Support is
at 5139 to 5127. Below that buyers should appear near 5067 to 5036 and the 4995 to 4973 region ..
Resistance should appear near 5200 to 5211 and 5250 to 5282, a close over is friendly and
augurs for a test of the
5345 to 5355 region..
BW Traders should go long if a close over 5282 occurs
Stay tuned for Forex Updates
The Sensational Bond and
Stock Markets
March
10 Year
T-Note
Support
is at 106-22 and 106-12
Dow Jones Industrial Average
Resistance should appear
near 9779 and the 9821 to 9837 region , Beyond that sellers should appear near 9888 and the 9921 to 9937 region.
Support is
at 9737 to 9706 Below that buyers should appear near 9641 to 9625 and contain a sell off.
December
SP500
Recommended Position
Short 5 1101.70 avg
Resistance is at 1130
to 1133 and 1136 , beyond that sellers should appear near 1150 and the 1164 to 1169
region BW Traders can sell at 1166.40 for a turn lower, risk a close over 1169
for three days in a row.. Beyond that a test of 1180.50 and the 1192 to 1203
region is likely.
Support should appear near
1122.70, a slip under is negative and indicates a test of
1115.5 and eventually the 1101 to 1096 region.. .
Stay Tuned for BW Updates .
Nasdaq Composite
Resistance is
at 1926 then 1946 to 1953 and the
1982 to 1996 region. .
Support is at 1902 and 1883.. Under that buyers should appear
near the 1865 to 1858 region..
December Mini- Nasdaq 100
Resistance is
at 1576 and 1591.5 then 1609 to 1615 and the 1642 to 1655 region,
Support is at 1569 and the 1535 to 1529 region..
Precious
Metals
February
Gold
Recommended Open Position : Long 2
at 275.7 avg
Support should
appear near 275.5 and 272.5 to 271.6
Resistance
is
at 279.7
and the 282 to 282.8 region.
Support should appear near 7090 to 7070.
Under that 7005 to 6990 should hold. BW Traders can buy at 7005 and risk a close under
6805 for three days in a row, Below that 6755 to 6740 should contain a decline
Resistance
should appear near 7140 to 7170 then 7240
to 7255 and the 7325 to 7345 region...
March Silver
Recommended open position long at 423.5
Support should appear near 418.5
to 417 and the 412.5
to 411 region. BW Traders can buy at 412.5 and hold for higher prices.. Under that support
should appear near 405.5 to 404.5, which should contain a decline for a
bit..
Resistance is at 425. Beyond that a test of
430.5 to 431.5 and the 437 to 438 region is likely..
The
Exciting Energies
January
Crude Oil
Support should appear near 1996 to
1982 then 1953 to 1946 and 1909 to 1902
Resistance
is at the 2034 to 2056 region.. Beyond that
sellers should appear near 2080 to 2088 and the
2126 to 2134 region.
January Unleaded Gas
Support should appear near 5580 to 5555
and 5505 to 5490 then 5430 to 5415.
Resistance
should appear near 5715 to 5730 and the 5855 to 5880 region . Beyond
that a test of 5945 to 5955 is likely.
Stay tuned for Updates..
January
Heating Oil
Resistance
is at the 5640 to 5655 and the 5715 to 5730 region.. Above that a test of 5855 to 5880 is likely.
a close over is friendly and augurs for an eventual test of 6100 to 6115..
Support
should appear
near 5505 to 5490 then 5430 to 5415 and the 5355 to 5345 region
Trade Accordingly
The
Lively Livestock Markets
Feb
Cattle
Support
should appear near 6992 and the 6922 to 6907
region.
Resistance
is at 7072 to
7087. BW Traders can
sell at 7072 for a turn lower and risk a close over 7172 for three days in a
row.
February Lean Hogs
Support should appear
near 5357 to 5347 and 5287 to 5257.. BW Traders can buy at 5297 and risk a close under 5197
for three days in a row.
Resistance
is at 5417 to 5432 and the 5492
to 5507 region.
.
February Pork Bellies
Support
should
appear near 7602 to 7587...BW Traders can buy at 7607 for a bounce and hold for higher prices.. Under that Buyers should appear near
7512 to 7487 and the 7427 to 7432 region..BW Traders can buy at 7432
for a bounce and risk a close under 7327 for three days in a row.
Resistance is
at 7762 to 7777 and the 7837 to 7867 region..
Stay
tuned for Livestock Updates and Flashes
The
‘Grand’ Grain
Markets
January
Soybeans
Recommended
Position Long 444 3/4
Resistance
is at 450 1/2 to 451 1/2... a close over is friendly and augurs for a test of 457 1/4 to 458 1/2 and the 463 3/4 to 465
region ..
Support
should appear near 444 3/4 to 442 1/2 and
438 1/4 to 437 under that 431 1/2 to 430 1/2 should
contain a decline.....
BW Traders go long if a close over 451 3/4 occurs..
January
Soybean Meal
Resistance
should appear near 156.9
to 157.6 ..
Support
is at 153.5 and 152.9 .. Below that
support should appear near 149.6 to 148.4..
January
Soybean Oil
Support
is near 1655 to 1642 and 1615 to 1609
Resistance
should appear near 1689
to 1696 and the 1731 to 1738 region ..
Trade Accordingly..
March
Corn
Resistance should appear near 221 3/4
to 222 3/4 , a close over is friendly and augurs for a test of 226 3/4 to
227 1/2 and eventually the 231 1/2
to 232 1/4 region.
Support should appear near
218 1/2 to 217. Under that buyers should emerge near the 213 1/2 to 212 3/4 region..
BW Traders can buy at 218 3/4 and risk a close under 212 3/4 for three days in a
row.
March
Wheat
Recommended Open Position Long 2 at 287 3/4 avg
Nearby Support
should appear near 287.. Below that buyers should appear
near 282 3/4 to 282
and the 277 3/4 to 275 1/2..region...
Resistance
is at 288 3/4 and the 292 3/4 to 293 3/4
region. A close over
is friendly and augurs for a test of 297 1/2 to 299 and eventually the 303 3/4 to
304 1/2 region
Aggressive BW Traders should go long if a close over 293 3/4 occurs..
The Satisfying Softs
March
Cotton
Resistance is at 3855 to 3870..
March Coffee
Recommended
open position long 5035
BW Traders can buy at 4305 for a turn higher
and risk a close under 4160 for three days in a row..
Resistance
should appear near 4695 to 4715 and the
4845 to 4855 region.
Stay tuned for updates
March
Sugar
Resistance
should appear near
791 to 795, beyond that a test of 814 to 823
Support
should appear
near 763 and the 739 to 735 region ..
March
Cocoa
Resistance
is at 1310 and 1334 to 1346 .Beyond that a test of 1377 to 1383
is likely
Support
should appear near 1304 and 1274 to
1268 ...Below that buyers should appear near 1238 to 1232 .
BW Traders can buy at 1238 and risk a close under 1192 for three
days in a row
A
Ship in Harbor is Safe.. But that's not what ships are built for --
Happy
Trading !
Bill !
Monday
December 3rd, 2001
4:10 PM
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.
-----------------------------------------------------------------------------------------
Premier
Service
http://www.futurescom.com/premier.htm
Recommended Open Positions as of 12-03-2001
Long 5 Dec EC 8959
Long 5 Dec Swiss Francs 6090
Short 2 Dec SP500 1141 avg
Long 10 Feb Gold 274.0
Long 20 Jan Beans 445 3/4 avg
Long 20 March Wheat 287 3/4 avg
Long 5 Dec Hogs 5030
Long 5 Feb hogs 5445
Long 5 March Coffee 4905
Index Program
http://www.futurescom.com/index01.htm
Recommended Open Position as of 12-03-2001
Short 8 Dec SP500 1122.60 avg
Morning Comment Day Trades (MC):
http://www.futurescom.com/mcper01.html