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Morning Comments , Thursday March 28h, 2002
Experienced Since
1979 - Serving Professional and Individual Traders World Wide since 1988
7690
Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995
http://www.futurescom.com
"A
lot of people approach risk as if it’s the enemy,
when it’s really fortunes accomplice.”
Wed March 27th , 2002
8:30 PM Eastern Standard Time
The Holiday Trading Schedule is at the end of today's
newsletter
The Frenzied Forex Front
June Yen
Support should appear near 7550
and 7513
to 7486, a close under is negative and augurs for as test of the 7428 to 7414
region.. BW Traders can buy at 7429 for a bounce and risk a close under 7413 for
three days in a row..
Resistance
should appear
near 7587 to 7601…A close over is friendly and augurs for a test 7675 to
7689 and eventually the 7763 to
7777 region..
BW Traders should go long if a close over 7602 occurs.
June Euro Currency (EC)
Support should appear at the 8683 to 8668 region. BW Traders can buy at 8684
and risk a close under 8668 for three days in a row .
Resistance is at 8728 and 8762 to 8777
June Swiss Franc
Resistance
should appear near
5998 and 6023 to 6035.
Support
should appear near the 5957 to 5945 region..
June British Pound
Recommended Open BW Position Long at 1.4150
Support should appear near 1.4180 to 1.4150
and 1.4072..BW Traders can buy at 1.4150 for
a turn higher and risk a close under 1.4068 for three days in a row..
Resistance is at
1.4210, a close over is friendly and augurs for s test of
1.4372 and beyond towards
the 1.4530 to 1.4590 region.
BW Traders should go long if a
close over 1.4210 occurs.
June Canadian Dollar
Recommended Open BW Position Long at 6307
Support should appear
at the 6271 to 6257 region and 6223
Resistance is at 6305 and the 6337 to 6350 region .. A close over is friendly and augurs for a
test of 6417 to 6430 and most likely the 6483 to 6509 region..
BW Traders should go
long if a close over 6350 occurs.
June
Aussie Dollar
Support is
at 5259 then 5227, under that 5211 to
5200 should hold for a bit ,,BW Traders can buy at 5228 and risk a close under 5174
for three days in a row..
Resistance is at 5282..
above that a trade towards the 5344 to 5356 region is likely
BW Traders should go long if a close over 5284 occurs
The Sensational Stock and Bond Markets
Dow Jones Industrial
Average
Resistance should appear near 10,470 then 10,525 and 10,580 to
10,630
Support should appear at 10,415 , a slip under augurs for a test of
10,360 to 10,320 .
June SP500
Resistance is at 1150, beyond that sellers
should appear near 1157 and the 1164 to 1169 region.
Support should appear at 1136 to 1133 and 1130....eventually a
test of 1115.50 should not be ruled out..
BW . Traders who
have ‘ice water running thru their veins ‘ can buy at 1115.6 and hold for higher prices. Failure there is negative
and augurs for a test of 1101 to
1096 …
Stay Tuned for BW Updates and additional trades during the trading sessions..
Nasdaq
Composite
Resistance is at 1841 , beyond that sellers should appear near 1858 to 1865 and 1883.5
Support is at 1822 to 1808.. Below that buyers should appear near
1780 to 1774 .. A close under 1774 is negative for a slip to 1738 to 1731 where
buyers should appear and contain a decline.
June Mini Nasdaq 100
Nearby
Resistance is at 1453 to 1459 and 1471.5 .
Nearby support is at the1421 to 1415 region. A slip under augurs for a test of 1383 to 1377
and the 1346 to 1334 region..
Trade Accordingly and Stay tuned…
.
June 10 Year
T-Note
Resistance should appear near 103-07 and 103-22
Support
is
at 102-23 and 102-04 below that 101-23
should contain a decline
for a bit…
Precious Metals
June
Gold
Support
should appear at 299 to 297.2 and 295.4
and the 293.7 to 292.8. BW Traders can buy at 293.8
and hold for higher prices, initially plan on risking a close under 292.6 for
three days in a row..
Resistance is at 304.5. Beyond
that a test of 309.2 to 310.2 is likely..
May
Copper
Support should
appear near the 7485 and 7430 to 7415. Under that
buyers should appear near 7255
to 7240.. BW traders can buy at 7260 and hold for higher prices.. Initially plan on
risking a close under 7140 for three days in row.. .
Resistance should appear near the 7585 to 7606 region a close over is
friendly and augurs for a test of 7760
to 7780 and eventually the 7835 to
7865 region..
BW Traders should go long if a close over 7515 occurs
May
Silver
Recommended
Open BW Position Long at 458.5
Support should appear near 465 to
463.5 and 458.5 to 457.
Resistance is at the 469.5 to 471.5 region
Beyond that
a test of the 484.5 to 485.5 region is
likely.
Stay tuned for
Updates
The Exciting Energies
May Crude Oil
Support should appear near
2568 to 2552 and 2519 to 2511.. Under that support should appear near 2469 to
2462 and 2419 to
2411
Resistance is at the 2612
to 2620 region.. Beyond that a test of 2663 to 2672 is likely.
May Unleaded Gas
Support should appear near 8140 to
8115 and 8045 to
8035 Under that support should appear near the 7865 to 7835 region.
Resistance is at 8300 to 8315
and the 8390 to 8410 region.
May
Heating Oil
Resistance is at 6740 to 6755 and the 6805 to 6835 region.
Support should appear near6670 to 6655 and 6590 to 6575 .. under
that buyers should appear near
6505 to 6485 and the 6350 to 6335 region.
The Lively Livestock
June Live Cattle
Support
should
appear near 6512 to 6487.and the 6432 to 6417 region.
Resistance
is
at 6572 to 6592
April Hogs
Support is at 5212 to 5197.and
5142 to 5127
Resistance is at 5257 to 5282 and 5342 to 5357..
June Hogs
Support is at 6037 to 6022 and 5957 to 5942
Resistance is
at 6102 to 6112 a close over is friendly and augurs for a test of 6337 to
6352 and eventually the 6417 to 6432 region..
BW Traders should go long if a close over 6112 occurs.
May Pork
Bellies
Support should appear
at 7602 to 7587 and the 7512 to 7487 region.
Resistance is at 7672 to
7687 and 7762 to 7777
-Stay tuned for Livestock and Belly Updates and
Flashes-
The Grande' Grains
May Soybeans
Recommended Open BW Position long at 472 1/2
Resistance is at 477
1/2 to 478 1/2 .. beyond that a test of the 484 1/2 to 485 ¾ region is
likely
Support should appear at 471 1/2 to 469 1/2 and 465 to 463 1/2
then 458 1/2 to 457 .
BW Traders can buy at 458 ½ and
risk a close under 450 ½ for three
days in a row..
July Soybeans
Resistance is at 477 to
478 3/4 and 491 1/2 to 492 3/4
Support should appear at 471
1/2 to 469 and 465 to 463
3/4 under that buyers should appear
near 458 1/4 to 457 ..BW Traders can buy at 459
and hold for higher prices..
Aggressive BW Traders should go long if a close over 478 3/4
occurs
May
Soybean Meal
Support should appear near
161.5 to 160. 9 and 157.6 to 156.9 BW Traders can buy at 157.7 for a turn higher.
Risk a close under 156.7 for three days in a row.
Resistance is at 164.2
to 165.5
May Soybean Oil
Support is
near 1576 to 1569. under that 1535 to 1529 should hold.
Resistance should appear near 1609 to
1615.
May
Corn
Resistance should appear near 208 to 208 1/2
Support is
at 204 3/4 to 203 1/2 and 199 3/4 to 198 1/4
BW Traders should go long if a close over 208 ¾
occurs
May Wheat
Recommended open BW position , long May Wheat 283 3/4
Nearby Support should
appear at 293 1/2 to 292 1/2 and 288 1/4 to 287 1/2
Resistance is at the 297 1/4 to
299, an
extended trade over is friendly and augurs for a test of
the 303 1/2 to 304 1/2 region.
The Satisfying Softs
May Cocoa
Recommended
open BW Position Long at 1491
Resistance is at 1529 to 1535
Support should
appear near 1496 to 1484 and 1459 to 1453
May Coffee
Recommended
Open BW position ,long at 5510
Support is near 5575 to 5555 and 5505 to 5490, under
that buyers should appear near 5430 to 5415 and 5215 to 5200 .BW Traders can buy at 5220 and risk a close
under 5020 for three days in a row.
Resistance should appear near 5640 to 5655. A close over 5655 is friendly and augurs for a test of
5855 to 5880 and the 6020 to 6035 region.
Beyond that sellers should appear near 6165 to 6190
May Sugar
Recommended open BW Position , long at 587
Support should appear near 586 to 582 .
Resistance should appear near
601 to 609 and 630 to
634. A close over augurs for a test of 656 to 661.. BW Traders should go long if a close
over 635 occurs.
May
Cotton
Nearby
Support
Resistance is at 4045 to 4055 and
4110 to 4120 and should cap a rally..
A Ship in Harbor is Safe.. But that is not what ships are built for --
Happy
Trading !
Bill
bill@futurescom.com
1--561-433-2995
Wed March 27th 2002
10:45 PM
THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS
OF THE AUTHOR, EXCEPT WHERE OPINIONS 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.
-----------------------------------------------------------------------------------------
FuturesCom Investment Publications Copyright@1996-2002 all rights reserved
Holiday
Trading Schedule
All U.S. exchanges are closed Friday, March 29, because of the Good Friday
holiday and some will close early Thursday, March 28.
CBT: Open outcry financial contracts will close at 1200 CT Thursday. Electronic trading for
financials and metals will close at
1230 CT Thursday. Overnight electronic trading will be closed
Thursday.Electronic trading reopens at its normal evening times Sunday.
CME: Agricultural futures and currency and interest rate markets will close at 1200 CT Thursday, with agricultural
options closing at 1202 CT. Equity products close at their regularly scheduled times.Currencies and interest rates traded on Globex will close at 1515 CT
Thursday. There is no Globex session for Friday's trade, with Globex reopening at 1730 ET Sunday.
NYBT: Coffee, Sugar and Cocoa Exchange, commodity index contracts will close at 1315 ET Thursday. At the New York Futures Exchange, CRB contracts will close at 1315 ET
Thursday.At the Financial Instrument Exchange, all New York day-session products
will close at 1300 ET Thursday. Finex Dublin products will trade regular hours
Thursday but will be closed Monday.
NYMEX: New York Mercantile Exchange Access trading will be closed Thursday
and reopen at 1900 ET Sunday.