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Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500-
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Tuesday, May 28th, 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
Description of Services Premier Service

"Observation. experience , memory and mathematics--These are what a successful trader must depend on. He Must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions maybe about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities-- that is try to anticipate them. Years of practice at the game, of constant study, of always remembering, enables the trader to act when the unexpected happens as well as when the expected comes to pass. A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory " --Reminiscences of a stock Operator--

**U.S. government offices, banks, financial and commodity markets will be closed Monday, May 27, for Memorial Day. Except for CME Globex, it opens at 1730 CT Sunday and stops at 1030 CT Monday, reopening at 1730 CT Monday.

Sunday May 26th, 2002
8:05 AM e.s.t

The ‘Frenzied’ Forex Front

June Yen
Recommended open BW position , long at 8082
Support should appear near 7991 and the 7957 to 7939 region
Resistance should appear near the 8029 to 8044 , a close over is friendly and augurs for a test of
8119 to 8134..

June Euro Currency (EC)
Recommended open BW position , long at 9252
Support should appear at 9156 to 9140 and 9101..Aggressive BW Traders can buy at 9102 and risk a close under 9039 for three days in a row.

Resistance is at the 9228 and the 9316 to 9347 region. Which appears more likely to be tested than not..

June Swiss Franc
Recommended open BW position , long at 6377
Resistance should appear near the 6337 to 6350 and 6417 to 6430 region.
Support should appear near 6305 and 6270 to 6257 .Below that .BW Traders can buy at 6224 for a bounce and risk a close under 6165 for three days in a row.

June British Pound
Support should appear near 1.4530 then 1.4472 and 1.4376 . BW Traders can buy at 1.4436 for a turn higher and hold for higher prices..

Resistance is at 1.4560 to 1.4590 and 1.4710, a close over is friendly and augurs for a test of the 1.4840 to 1.4960 regions. ...

BW Traders should go long id a close over 14714 occurs.

June Canadian Dollar
Support should appear at 6509 to 6483.
Resistance is at 6577 to 6591

June Aussie Dollar
Support is at 5504 to 5492
Resistance is at 5553 to 5577 and 5640 to 5653

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10,120 to 10,136 and 10185...Beyond that sellers should appear near 10,257
Support should appear near 10,070.5 and 10,037 to 10,021

June SP500
Resistance is at 1089 and 1096 to 1098.5 and 1101 , a close over 1101 is friendly and augurs for a test of 1115..5 .
Support should appear near 1082 and the 1068 to 1058 region.. .

*Stay Tuned for BW Updates and additional trades during the trading sessions..

Nasdaq Composite
Resistance is at 1672 then 1689 to 1697 and 1713.5.

Support should appear near 1655 to 1642 and the 1615 to 1609 region.

June Mini Nasdaq 100
Nearby Resistance is at 1268 to 1274 and 1289.
Nearby support is at 1253 and the 1238 to 1232 region

Sept 10 Year T-Note
Resistance should appear near 104-23 and 105-07 which should cap a rally for a bit.. Beyond that sellers should appear near 105-23
Support is at 104-04 and 103-23 which should contain a decline for a bit… .

Precious Metals

June Gold
recommended open BW position , long at 316.0
Support should appear at 319.4 and 315.7 to 314.8.

Resistance is at 321.3 and the 326.1 to 327 region.

July Copper
Recommended open BW position , short at 7320
Support should appear near the 7345 to 7320 and the 7255 to 7240 region..

Resistance should appear near 7415 to 7430.. Beyond that sellers should appear near 7485 to 7505...

July Silver
recommended open BW position , long at 478.0
Support should appear near 485.5 to 484 and 478.5 to 477.5

Resistance is at 491.5 to 492.5 beyond that a test of the 497.5 to 499 region is likely .. .

The Exciting Energies

July Crude Oil
recommended open BW position , long 2 at 2673
Support should appear near 2568 to 2552 and the 2519 to 2511 region.
Resistance is at 2612 to 2620 and 2663 to 2672

July Unleaded Gas
Recommended open BW position , long at 7965
Support should appear near 7865 to 7835 . Which should contain a decline for a bit...Under that buyers should appear near 7780 to 7760 and 7685 to 7670

Resistance is at 7940 to 7955 and 8020 to 8045 ..

July Heating Oil
Resistance is at 6655 to 6670 and 6740 to 6755
Support should appear near the 6590 to 6570 region. Below that a test of 6510 to 6485 is likely.

The Lively Livestock

June Live Cattle

Nearby Support should appear at 6197 to 6162 and 6117 to 6102 .
Resistance is at 6257 to 6272

June Hogs
Support is at the 4787 to 4772.

Resistance is at 4842 to 4857 and 4912 to 4927 .

July Pork Bellies
Support should appear at 5882 to 5852 and 5807 to 5792
Resistance is at 5942 to 5957 and 6022 to 6037 .

   -Stay tuned for Livestock and Belly Updates and Flashes-

                          The Grande’ Grains
July Soybeans
Recommended open BW position , long at 493
Resistance is at 491 1/2 to 492 3/4 and 497 1/4 to 499 1/2..
Support should appear at 485 3/4 to 484 1/2 under that buyers should appear near 478 3/4 to 477 1/2 ..
BW Traders can buy at 479 1/4 and hold for higher prices.. Below that support is at 471 3/4 to 469 1/2

July Soybean Meal
Support should appear near 161.5 to 160.9,which should contain a decline for a bit..

Resistance is at 164.2 to 165.5 a close over is friendly and augurs for a test of the 168.9 to 169.6 region

BW Traders should go long if a close over 165.7 occurs..

July Soybean Oil
Support is near 1756 and 1738 to 1731
Resistance should appear near 1774 to 1780 and 1794.

July Corn
recommended open BW position , long at 208 3/4
Resistance should appear near 206 1/2 and 208 to 208 3/4

Support is at 204 1/2 to 203 1/2 ..

July Wheat
Recommended open BW position , long at 267 1/2

Support should appear at 267 1/4 to 266 1/2. ..
Resistance is at 271 3/4 to 272 1/2 .

The Satisfying Softs
July Cocoa
Resistance is at 1569 to 1576 and 1609 to 1615.

Support should appear near the 1535 to 1529 region. BW Traders can buy at 1537 and risk a close under 1479 for three days in row

BW Traders should go long if a close over 1617 occurs..

July Coffee
recommended open BW position , long at 5145
Support is near 5065 to 5035 and 4995 to 4970.. BW Traders can buy at 5005 and risk a close under 4905 for three days in a row.

Resistance should appear near 5200 to 5210 , a close over 5215 is friendly and augurs for a test of the
5345 to 5355 region.

July Sugar
Support should appear near 562 to 558 and 534 and 523 Traders can buy at 536 and hold for higher prices..

Resistance should appear near 582 to 586. A close over 589 is friendly and augurs for a test of the 601 to 609 and the 630 to 634 region.

BW Traders should go long if a close over 591 occurs

July Cotton
Recommended open BW position , long at 3645
Support should appear near 3685 to 3665 and 3625 to 3610.. Below that buyers should appear near the 3565 to 3550 region.
Resistance is at 3735 to 3745 and 3795 to 3805 .. beyond that a test of the 3855 to 3865 region is likely.

Trade Accordingly and stay tuned for updates..

A Ship in Harbor is Safe.. But that is not what ships are built for --

Happy Trading and Have a Safe Memorial Day !
Bill
bill@futurescom.com
1--561-433-2995

Sunday May 26th, 2002
10:00 AM South Florida Beach Time

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.