FuturesCom Investment Publications Since 1989 Economic and Investment Trend Analysis Since 1979

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

FuturesCom Investment Publications
Morning Comments, Wed November 20th, 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

Tuesday, November 19th, 2002
3:30 PM eastern standard time

The ‘Frenzied’ Forex Front

December Yen
Support should appear near 8134 to 8119
Resistance should appear near 8223 and 8262

December Euro Currency (EC)
Recommended Open BW Position Long at 10041
Support should appear at 9979 and 9937 to 9921
Resistance is at 10037 and 1.0079

December Swiss Franc
Recommended Open BW Position Long at 6868
Resistance should appear near 6872 and 6906 to 6919
Support should appear near the 6836 to 6809 region.

December British Pound
Support should appear near 1.5760 to 1.5690. BW Traders can buy at 1.5728.. for a turn higher , risk a close under 1.5678 for three days in a row. Below that buyers should appear near 1.5526
Resistance should appear near 1.5826 and 1.5912.

December Canadian Dollar
Support should appear near 6270 to 6257 and contain a decline… A close under is negative and augurs for a test of 6190 to 6165.
Resistance is at 6337 to 6350

December Aussie Dollar
Recommended Open BW Position Long at 5582
Support is at 5577 to 5553.. BW traders can buy at 5582 for a bounce and risk a close under 5549
for three days in a row.
Resistance is at 5607 and the 5640 to 5653 region.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8484 to 8499 then 8556 to 8589 and 8668 to 8683 where sellers should appear attempt to Cap an early rally.
Support should appear near 8445 and 8406 to 8391, a close under augurs for a test of 8314 to 8300 and the 8223 to 8195 region.. Which should contain a decline for a bit..

December SP500
Recommended Open BW Position Short at 891.50
Nearby Resistance is at 904.40 to 906.00 and 914.00 to 915.60 . Which should cap a rally for a bit. Beyond that a test of 923.60 and the 931.60 to 934.70 region is likely ..
Support should appear near 896.40 to 893.40 a close under augurs for a test of the 877.70 to 876.20 region.

Nasdaq Composite
Resistance is at the 1377 to 1383 and the 1415 to 1421 region.
Support should appear near 1361.5, a slip under augurs for a test of the 1346 to 1334 region .. which is now more likely to happen than not.

December Mini Nasdaq 100
Resistance is at 1032 to 1036 and 1058 to 1068.00
Support is at 1018.5 and the 1005 to 1000 region.

March Ten Year T-Notes
Resistance should appear near 113-07 and 113-23 which should cap a rally for a bit..
Support is at 112-22 then 112-.07 then 111-23 and 111-05.

Precious Metals

December Gold
Recommended Open BW Position Long at 321.7
Support should appear at 317.8 and the 315.7 to 314.8 region.
Resistance is at 319.4 to 321.3, a close over augurs for another test of the 326.1 to 327.0 region..

December Copper
Support should appear near 7240 and 7170 to 7140
Resistance should appear near 7325 to 7345 and the 7415 to 7430 region .

December Silver
Recommended Open BW Position Long at 4.55
Support should appear near 451.5 to 450.0 and 444.5 to 442.5
Resistance is at 457.0 to 458.5 and 463.5 to 465.0

The Exciting Energies

January Crude Oil
Support should appear near 2519 to 2511
Resistance is at 2552 to 2568 and 2612 to 2620

January Unleaded Gas
Recommended Open BW Position , long 2 at 6885 avg
Support should appear near 6835 to 6805 and 6755 to 6740
Resistance is at 6990 to 7005 and 7075 to 7090

January Heating Oil
Resistance is at 7240 to 7255 and 7325 to 7345 .
Support should appear near 7170 to 7140 and 7090 to 7070

January Natural Gas
Resistance is at 4.370 to 4.381 and 4.425 to 4.446
Support is at 4.315 to 4.304 and 4.249 to 4.238

The Lively Livestock
December Live Cattle
Resistance should appear near 7412 to 7427. Beyond that sellers should appear near 7487 to 7512.
BW traders can sell at 7482 for a turn lower and risk a close over 7522 for three days in a row
Support is at 7327 and 7257 to 7242

Stay tuned for updates

December Hogs
Recommended Open BW Position, short at 2 at 4342 avg
Support is at 4517 to 4507 .
Resistance is at 4572 to 4587 and 4637 to 4652

Feb Hogs
Support is at 5282 to 5257
Resistance is at the 5342 to 5357 region.. Beyond that sellers should appear near 5417 to 5432.

February Pork Bellies
Recommended Open BW Position, Long 7962
Support should appear at 8047 to 8027 then 7957 to 7937 and 7867 to 7837
Resistance is at 8117 to 8137 and 8192 to 8222.

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains

Jan Soybeans
Recommended Open BW Position, Long 566 1/2
Resistance is at 579 1/4 to 580 1/2
Support should appear near the 572 3/4 to 571 3/4 and 565 1/4 to 564

December Soymeal
Recommended Open BW Position, Long 166.1
Support should appear near 165.5 to 164.2
Resistance is at 168.9 to 169.6

December Soybean Oil
Recommended Open BW Position, Long 2236
Resistance is near 2267 to 2275
Support should appear near 2226 to 2219 and 2185 to 2179
BW Traders should go long if a close over 2278 occurs.

Dec Corn
Resistance should appear near 251 1/4 to 252 .
Support is at 247 to 246 1/4 and 244

December Wheat
Recommended Open BW Position, Long 2 at 402 ½ avg
Support should appear at 380 3/4 to 379 1/2 and the 374 1/2 to 373 3/4 region..
Resistance is at 385 2/3 to 386 3/4 and the 390 3/4 to 392 3/4 region,

March Wheat
Support should appear at 379 3/4 and 374 1/2 to 373 3/4...
Resistance is at 390 3/4 to 392 3/4
BW Traders should go long if a close over 393 ¼ occurs.

The Satisfying Softs

March Cocoa
Recommended Open BW Position Long at 1753
Support is at 1738 to 1731 and 1696 to 1689
Resistance should appear near 1774 to 1780 and the 1808 to 1822 region.

March Coffee
Support is near the 7005 to 6990 and the 6925 to 6905 region .. Below that buyers should appear near 6835 to 6805 and the 6755 to 6740 region .
Resistance should appear near 7140 to 7170 and 7325 to 7345
BW Traders should go long if a close over 7185 occurs.

March Sugar
Recommended Open BW Position, Long 2 at 737 avg
Support should appear near 712 to 704 .
Resistance should appear near 735 to 739

March Cotton
Support should appear near the 4930 to 4915 region.. Below that buyers should appear near 4855 to 4845 and the 4785 to 4775 region.. BW Traders can buy at 4935 and risk a close under 4835 for three days in a row.
Resistance is at 4975 to 4995 and 5035 to 5065

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

Happy Trading!
Bill
bill@futurescom.com 1-561-433-2995
Tuesday , November 19th, 2002
5:15 PM , 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.