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 November 26th, 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
If all our misfortunes were laid in one common heap whence everyone must take an equal portion,
most people would be contented to take their own and depart. --Socrates-
Monday , November 25th, 2002
4:00 PM , Eastern
The ‘Frenzied’ Forex Front
December Yen
Nearby Support should appear near 8182 and 8134 to 8119
Nearby Resistance should appear near 8194 to 8223 and 8262
December Euro Currency (EC)
Recommended Open BW Position Long at 10041
Support should appear at 9879 and 9837 to 9821. Aggressive BW traders can buy at 9881 for a bounce and risk a close under 9812 for three days in a row. Below that buyers should appear near 9779 and the 9737 to 9706 region.
Resistance is at 9921 to 9937 .
December Swiss Franc
Recommended Open BW Position Long at 6868
Resistance should appear near 6741 to 6755
Support should appear near 6709 and 6673 to 6659
December British Pound
Recommended Open BW Position Long at 1.5728
Support should appear near 1.5612 and 1.5586
Resistance should appear near 1.5690 to 1.5760
December Canadian Dollar
Support should appear near 6350 to 6337 and 6305.
Resistance is at 6383 and 6417 to 6430..
December Aussie Dollar
Recommended Open BW Position Long at 5582
Support is at 5577 to 5553
Resistance is at 5608 and the 5640 to 5653 region..
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 8856 to 8871 and 8934 to 8964
Support should appear near 8777 to 8762 and 8689 to 8560 ..
December SP500
Recommended Open BW Position Short at 891.50
Resistance is at 931.60 to 934.70.. Beyond that sellers should appear near 942.90 to 944.50 and the 952.60 to 954.20 region
Support should appear near 923.60 another slip under augurs for a test of 915.60 and 914.00..
Nasdaq Composite
Resistance is at 1484 to 1496 and 1529 to1535
Support should appear near 1459 to 1453
December Mini Nasdaq 100
Resistance is at 1130 to1136 and 1164 to 1169
Support is at 1101 to1096.
March Ten Year T-Notes
Resistance should appear near 111-23 and 112-07
Support is at 111-07 and 110-23
Precious Metals
Feb Gold
Recommended Open BW Position Long at 319.1
Support should appear at 317.6 and 315.7 to 314.8
Resistance is at 319.4 to 321.3.
March Copper
Resistance should appear near 7485 to 7515 and the 7585 to 7605 region..
Support should appear near 7430 to 7415 and 7345 to 7325
March Silver
Recommended Open BW Position Long at 4.53
Support should appear near 444.5 to 442.5
Resistance is at 450.5 to 451.5.
The Exciting Energies
January Crude Oil
Support should appear near 2568 to 2552
Resistance is at 2612 to 2620
January Unleaded Gas
Recommended Open BW Position , long at 6995
Support should appear near 7080 to 7065 and 7005 to 6990
Resistance is at 7140 to 7170
January Heating Oil
Resistance is at 7485 to 7515 and 7585 to 7605.
Support should appear near 7430 to 7415 and 7345 to 7325
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 7417 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 7342 to 7327
Stay tuned for updates
December Hogs
Recommended Open BW Position, short at 2 at 4342 avg
Support is at 4517 to 4507 and 4457 to 4447 .
Resistance is at 4572 to 4582 and the 4637 to 4652 region.
Feb Hogs
Support is at 5342 and 5282 to 5257.
Resistance should appear near 5417 to 5432 and 5492 to 5507
February Pork Bellies
Recommended Open BW Position, Long at 8357
Support should appear at 8302 and 8227 to 8192. Under that buyers should appear near 8137 to 8117
Resistance is at 8322 and 8392 to 8407, beyond that a test of 8482 to 8502 is likely
-Stay tuned for Livestock and Belly Updates and Flashes-
The Grande’ Grains
Jan Soybeans
Resistance is at 572 3/4 and 579 1/4 to 580 1/2
Support should appear near the 565 1/4 to 564 and the 557 3/4 to 555 1/4 region
January Soymeal
Support should appear near 165.5 to 164.2
Resistance is at 168.9 to 169.6
January Soybean Oil
Recommended Open BW Position, Long 2190
Resistance is near 2219 to 2226 and 2267 to 2275
Support should appear near 2185 to 2170
BW Traders should go long if a close over 2249 occurs.
March Corn
Resistance should appear near 246 1/4 to 247
Support is at 244 and 242 to 241 1/4
December Wheat
Recommended Open BW Position, Long 2 at 402 1/2 avg
Support should appear at 381 to 379
Resistance is at 385 3/4 to 386 3/4
March Wheat
Support should appear at 380 3/4 to 379 1/2
Resistance is at 390 3/4 to 392 3/4
BW Traders should go long if a close over 393 1/4 occurs.
The Satisfying Softs
Recommended Open BW Position Long at 1753
Support is at 1696 to 1689 and 1655 to 1642
Resistance should appear near 1731 to 1738 and 1756.
March Coffee
Recommended Open BW Position Long at 7240
Support is near 6835 to 6805 and the 6755 to 6740 region .
Resistance should appear near 6990 to 7005 and the 7075 to 7090 region
March Sugar
Recommended Open BW Position, Long 2 at 737 avg
Support should appear near 735 and 712 to 704 .
Resistance should appear near 763 to 767
March Cotton
Support should appear near the 5065 to 5035 then 4995 to 4975 and 4930 to 4915
Resistance is at 5125 to 5140 and 5200 to 5215, a close over augurs for a test of 5345 to 5355 ..
BW Traders should go long if a close over 5155 occurs .
Ship in Harbor is Safe.. But that is not what ships are built for –
Happy Trading!
Bill
bill@futurescom.com 1-561-433-2995
Monday , November 25th, 2002
4:40 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.
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FuturesCom Investment Publications Copyright@1996-2002 all rights reserved
U.S. government offices, banks and exchanges will be closed Thursday, Nov. 28 in observance of the Thanksgiving Day holiday.
CBOT: On Wednesday pit traded agricultural and financial contracts close at 1200 CT. On Friday pit traded agricultural and financial contracts close at 1200 CT. Stock-index contracts will close at 1215 CT.
CME: On Wednesday all pit traded foreign exchange and commodity futures and options will close at
1200 CT. Globex interest rate, foreign exchange and equity products trading will close at 1515 CT.
On Friday all pit traded interest rate, foreign exchange, and commodity futures and options will close at
1200 CT, equity products will close at 1215 CT. Globex interest rate, foreign exchange and equity products will close at 1215 CT.
KBOT: On Wednesday and Friday Wheat futures will close at 1200 CT.
NYBOT: Coffee, Sugar,Cocoa and Cotton will be closed on Thursday and Friday.
NYMEX: The exchange will be closed Thursday and Friday.