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, Thursday December 5th, 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

Wednesday December 4th, 2002
5:45 PM , Eastern
We have rolled analysis for British Pounds, Aussie and Canuck to March only. Cancel all open orders in December for those markets. In addition there are new BW Recommendations for March Aussie Dollar and March Canuck

The ‘Frenzied’ Forex Front

December Yen
Recommended Open BW Position Short at 8031
Support should appear near 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 8029 to 8044 and 8081

March Yen
Support should appear near 8044 to 8029 and 7992
Resistance should appear near 8081 and 8119 to 8134

December Euro Currency (EC)
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
Support should appear at 9937 to 9921
Resistance is at 9779 and 1.0021

December Swiss Franc
Resistance should appear near 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
Resistance should appear near 6836.
Support should appear near 6782

March British Pound
Support should appear near 1.5586 and 1.5512
Resistance should appear near the 1.5626 and the 1.5690 to 1.5760 region. .

March Canadian Dollar
Support should appear near 6350 to 6337
BW Traders can buy at 6354 and risk a close under 6332 for three days in a row
Resistance is at 6417 to 6430 and 6456..

March Aussie Dollar
Support is at 5553 and 5529. Under that buyers should appear near 5504 to 5492
Resistance is at the 5577 and 5608
** BW Traders should go long if a close over 5579 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 111-23 and 112-07 which should cap a rally for a bit..
Support is at 111-04 and 110-23

Precious Metals

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

March Copper
Support should appear near 7585 and 7515 to 7485
Resistance should appear near 7665 to 7690 and 7760 to 7780.

March Silver
Support should appear near 451.5 to 450.5 and 444.5 to 442.5
Resistance is at 458.5 and 463.5 to 465

The Exciting Energies
January Crude Oil
Recommended Open BW Position Long at 2730
Support should appear near 2672 to 2663 and 2620 to 2612..BW Traders can buy at 2647 and hold for higher prices,.. Below that Support is at 2568 to 2552.
Resistance is at 2716 to 2724 and 2758 to 2775 .

January Unleaded Gas
Support should appear near 7255 to 7240 and 7170 to 7140
Resistance is at 7345 and 7415 to 7430, beyond that a test of 7485 to 7515 is likely

January Heating Oil
Resistance is at 7515 then 7585 to 7605 and 7665 to 7690.
Support should appear near 7485 then 7430 to 7415 and 7345 to 7325

January Natural Gas
Resistance is at 4.370 to 4.381 and 4425 to 4446
Support is at 4.315 to 4.305 and 4.249 to 4.238

The Lively Livestock

February Live Cattle
Resistance should appear near 7937 to 7957 and 8027 to 8047
Support is at 7867 to 7832

February Hogs
Recommended Open BW Position, short 2 at 5447 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 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 8487 to 8502 then 8562 to 8592 and 8667 to 8682 A close over is friendly and augurs for a test of 8762 to 8777
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 565 1/2 to 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 2219 to 2226
Support should appear near 2185 to 2170.

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 362 1/4 and 366 1/4 to 368 1/4

The Satisfying Softs

March Cocoa
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 should appear near 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 7075 to 7090 and 7140 to 7170

March Sugar
Support should appear near the 751 and the 739 to 735 region.
Resistance should appear near 763 to 767 and 791 to 795 .

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

Wednesday, December 4th, 2002
6:35 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.