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 December 4th, 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

"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--

Tuesday, December 3rd,2002
10:45 PM , Eastern

The ‘Frenzied’ Forex Front

December Yen
Recommended Open BW Position Short at 8031
Support should appear near 7992 and 7954 to 7939.. below that 7864 to 7836 should hold..
BWTraders can buy at 7867 and risk a close under 7755 for three days in a row.
Resistance should appear near 8044 and 8119 to 8134

December Euro Currency (EC)
Recommended Open BW Position Long at 9882
Support should appear at 9979 and 9937 to 9921
Resistance is at 1.0021 to 1.0037 region. Beyond that sellers should appear near 1.0071 and the 10104 to 10136 region

March Euro Currency (EC)
Recommended Open BW Position Long at 9913

December Swiss Franc
Recommended Open BW Position Long at 6776
Resistance should appear near the 6809 to 6836 region. Beyond that a test of the 6909 to 6919 region is likely to occur.
Support should appear near 6782 and 6755 to 6741.

March Swiss Franc
Recommended Open BW Position Long at 6780

December British Pound
Support should appear near 1.5622 and 1.5586
Resistance should appear near the 1.5690 to 1.5760 region. .

December Canadian Dollar
Support should appear near 6383 and 6357 to 6335
Resistance is at 6417 to 6430 and 6456..

December Aussie Dollar
Recommended Open BW Position Long at 5582
Support is at 5577 to 5553. Under that buyers should appear near 5504 to 5492
Resistance is at the 5608 and the 5640 to 5653 region
BW Traders should go long if a close over 5657 occurs.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8762 to 8777 and 8856 to 8871 where sellers should appear attempt to Cap an early rally. However a close over is friendly and augurs for a test of the 8934 to 8964

Support should appear near 8683 to 8668 and 8589 to 8560

December SP500
Recommended Open BW Position Short at 891.50
Resistance is at 923.60 and 931.60 to 934.70 and 938.80..Beyond that sellers should appear near 942.90 to 944.50t..
Support should appear near 915..60 to 914.00 , a close under is negative and augurs for a test of 906.00 to 904.40 and the 896.40 to 893.40 region.

Nasdaq Composite
Resistance is at 1453 to 1459 and 1484 to 1496
Support should appear near 1421 to 1415 A close under is negative and augurs for a test of the 1383 to 1377.

December Mini Nasdaq 100
Resistance is at 1096 to 1101 and 1130.00 to 1136.00.
Support is at 1068 to 1058, a close under is negative and augurs for a test of 1036 to 1032

March Ten Year T-Notes
Resistance should appear near 111-07 and 111-23 which should cap a rally for a bit..
Support is at 110-23.. A close under is negative and augurs for a test of 110-04 and 109-23

Precious Metals

Feb Gold
Recommended Open BW Position Long at 319.1
Support should appear at 319.4 and the 315.7 to 314.8 region. .
Resistance is at 321.3 and the 326.1 to 327.0 region..

March Copper
Support should appear near 7515 to 7485 and 7345 to 7325,
Resistance should appear near 7665 to 7690 and 7760 to 7780.

March Silver
Recommended Open BW Position Long at 4.53
Support should appear near 451.5 to 450.5 and 444.5 to 442.5
Resistance is at 457.0 to 458.5and 463.5 to 465

The Exciting Energies
January Crude Oil
Recommended Open BW Position Long at 2730
Support should appear near 2724 to 2712 and 2672 to 2663.
Resistance is at 2758 to 2775 . A close over is friendly and augurs for a test of 2820 to 2829.

January Unleaded Gas
Support should appear near 7430 to 7415 and 7345 to 7325.
Resistance is at 7515 and the 7665 to 7690 region.

January Heating Oil
Resistance is at 7765 to 7770, a close over is friendly and augurs for a test of 7835 to 7865 and the 7940 to 7955 region..
Support should appear near 7690 to 7665 then 7605 to 7585 and 7515 to 7485

January Natural Gas
Resistance is at 4.238 to 4.249 and 4.305 to 4.315
Support is at 4.183 to 4.163 and 4.120 to 4.110

The Lively Livestock

December Live Cattle
Recommended open BW position Short at 7482
Resistance should appear near 7487 to 7512 and 7587 to 7602.
Support is at 7432 to 7412

February Live Cattle
Resistance should appear near 7862 and 7937 to 7957.. .
Support is at 7832 , a close under is negative and augurs for a test of 7777 to 7762.

December Hogs
Recommended Open BW Position, short at 4427
Support is at 4517 to 4502 below that buyers should appear near 4447 to 4432..
Resistance is at 4572 to 4582 and the 4637 to 4652 .

Stay tuned for updates

February Hogs
Recommended Open BW Position, short 2 at 5477 avg
Support is at 5427 to 5417 and 5357 to 5342.
Resistance is at the 5492 to 5507 and 5552 to 5577

February Pork Bellies
Support should appear at 8482 and the 8407 to 8392 region.. Below that buyers should appear near 8317 to 8202. BW Traders can buy at 8317 and hold for higher prices

Resistance is at 8562 to 8592 and 8667 to 8682 A close over is friendly and augurs for a test of 8762 to 8777 and the 8932 to 8967 region. Which should Cap a rally for a bit..
Aggressive BW traders should go long if a close over 8692 occurs..

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains

Jan Soybeans
Recommended Open BW Position, Long 565 3/4
Resistance is at 571 3/4 to 575 and 579 1/2 to 580 1/2
Support should appear near the 563 and 557 3/4 to 554 1/4

January Soymeal
Recommended Open BW Position, Long 171.4
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 2267
Resistance is near the 2170 to 2185
Support should appear near 2134 to 2126.

March Corn
Resistance should appear near 241 1/4 to 342.
Support is at 237 to 235 1/2 region

March Wheat
Recommended Open BW Position, Long 2 at 383
Support should appear at 356 3/4 to 355 1/4
Resistance is at 361 1/4 to 362 1/4

The Satisfying Softs

March Cocoa
Recommended Open BW Position, Long 1753
Support is at 1822 to 1808 and 1780 to 1774
Resistance should appear near 1858 to 1868 and 1909 to 1922

March Coffee
Recommended Open BW Position, Long 2 at 7260 avg
Support is near 7090 to 7075 and 7005 to 6990 Below that buyers should appear near 6835 to 6805 and the 6755 to 6740 region . BW Traders can buy at 6755 for a bounce and risk a close under 6645 for three days in a row
Resistance should appear near 7140 to 7170 and 7325 to 7345 which should Cap a rally for a bit .. However a close over is friendly and augurs for a test of 7485 to 7515 and the 7760 to 7775 region..

March Sugar
Recommended Open BW Position, Long 730
Support should appear near 763 and the 739 to 735 region.
Resistance should appear near 791 to 795 Beyond that sellers should appear near 814 to 823.

March Cotton
Recommended Open BW Position, Long 4935
Support should appear near the 4785 to 4775 region and 4720 to 4695
Resistance is at 4845 to 4855 and 4915 to 4925

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

Tuesday, December 3rd, 2002
11:40 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.