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, Friday February 14th, 2003
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

Morning Comments
Friday, February 14th , 2003
6:30 AM eastern standard time

President's Day Holiday Schedule :
U.S. stock markets will observe a regular trading schedule today, The Chicago Board of Trade will close its financial, contracts at 1 p.m. EST. Agricultural, stock index and metal contracts trade normal hours..
Chicago Mercantile Exchange agricultural, currency and interest-rate futures and options contracts will close at 1 p.m. EST, . Equity and E-mini S&P 500 products will close at their regularly scheduled times.
New York Mercantile Exchange energy markets will close at 1 p.m. ES . Aluminum and palladium trading ends at noon EST, copper and silver trading ends at 12:05 p.m. , and platinum and gold trading ends at 12:10 p.m.

Sunday, Feb. 16: CBOT overnight a/c/e trading will be closed. CME GLOBEX electronic trading will begin at its regular time of 6:30 p.m. EST

Monday, Feb. 17: The U.S. government securities market and all other bond markets will be closed.
U.S. stock markets will be closed. All CBOT pit trading will be closed. Overnight a/c/e trading reopens.
CME trading floors are closed. GLOBEX trading ends at 11:30 a.m. and reopens at 6:30 p.m. EST .

The ‘Frenzied’ Forex Front

March Yen
Support should appear near the 8300 and the 8223 to 8194 region.
Resistance should appear near 8314 and 8391 to 8407

March Euro Currency (EC)
Recommended Open BW Position Long at 10825
Support should appear near 10780 then 10750 and 10680, which should contain a decline for a bit
Resistance is at 10820 and 10960 to 11010

March Swiss Franc
Resistance should appear near 7378
Support should appear near 7342 to 7328

March British Pound
Support should appear near 1.6120 to 1.6090 below that buyers should appear near 1.5926
Resistance should appear near 1.6282 and the 1.6420 to 1.6550 region.
BW Traders should go long if a close over 1.6292 occurs

March Canadian Dollar
Support should appear near 6577 and 6509 to 6483.
Resistance is at 6591 and 6659 to 6672

March Aussie Dollar
Recommended Open BW Position Long at 5934
Support is at 5912 and 5880 to 5855.
Resistance is at 5945 to 5957.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 7763 to 7777 and the 7836 to 7864 region. .
Support should appear near the 7689 to7675 region. Below that buyers should step in near 7601 to 7587 and contain a decline for a bit.

March SP500
Resistance is at 822.3 and 830.00 to 831.4 and 839.1 to 840.60
Support should appear near 813.40 to 811.90 and the 804.40 to 802.90 region

Traders should Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime

Nasdaq Composite
Resistance is at 1289 and 1304 to 1310
Support should appear near 1274 to 1268

March Mini Nasdaq 100
Resistance is at 962.50 to 964.00 and 970.50 to 973.50 . Beyond that sellers should appear near 982.50 to 984.00 and should Cap a rally..

Support is at 954.50 to 952.50 and the 944.50 to 943.00 region .

March Ten Year T-Notes
Resistance should appear near 115-07 and 115-23
Support is at 114-23 and 114-07.

The Precious Metals

April Gold
Recommended Open BW Position Long at 368.3
Support should appear at 356.3 to 355.3 and 350.3 to 349.3.
Resistance is at 361.3 to 362.3

March Copper
Support should appear near 7430 to 7410 and the 7345 to 7335 region.
Resistance should appear near 7485 to 7515 and the 7585 to 7605 region.

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

The Exciting Energies

May Crude Oil
Support should appear near 3320 to 3319 then 3270 to 3261 and 3213 to 3194 .
Resistance is at 3386 and the 3425 to 3443 region.

March Unleaded Gas
Support should appear near 10180 and 9935 to 9920.
Resistance is at 10320 to 10360 and 10470.

March Heating Oil
Resistance is at 10470 and 10580 to 10630
Support should appear near 10360 to 10320 and 10185 to 10155.

March Natural Gas
Resistance is at5792 to 5805 then 5855 to 5880 and 6.023 to 6.035
Support is at 5.729 to 5.716 and .5653 to 5.640

The Lively Livestock

April Live Cattle
Resistance should appear near 7587 to 7602
Support is 7512 to 7487

April Lean Hogs
Support is at 5282 to 5257 and 5212 to 5197
Resistance is at the 5342 to 5357 region .

June Lean Hogs
Recommended Open BW Position Long at 6247
Support is at 6117 to 6102 and the 6037 to 6022 region.
BW Traders should buy at 6042 for the pull.. below that 5957 to 5942 should hold..
Resistance is at 6192 and 6257 to 6272

March Pork Bellies
Recommended Open BW Position Long 2 at 8427 avg
Support should appear at 8482 and 8407 to 8392
Resistance is at the 8557 to 8592

- Stay tuned for Livestock and Belly Updates -

The Grande’ Grains
March Soybeans
Recommended Open BW Position Long at 572
Resistance is at 573 and 579 1/4 to 580 1/2
Support should appear near the 565 1/4 to 564 and the 555 3/4 to 554 3/4 region ..

March Soymeal
Support should appear near 173.8 to 173.1 .
Resistance is at 177.4 to 178.0

March Soybean Oil
Recommended Open BW Position Long at 1996
Resistance should appear near 2034 to 2046
Support should appear near 1996 to 1988

March Corn
Resistance should appear near 241 1/4 to 242
Support is at 239 and the 237 to 235 ½ region ..

March CBOT Wheat
Recommended Open BW Position Long at 2 at 331 avg
Support should appear at 321 1/4 to 319 1/2
Resistance is at 326 1/4 to 327 .

The Satisfying Softs

May the ‘ Monster’ Coffee
Recommended Open BW Position Long 2 at 6825 avg
Support is near 6430 to 6415 and 6270 to 6255.
Resistance should appear near the 6575 to 6590

May Cocoa
Support is at 2275 to 2267 .
Resistance should appear near 2315 to 2322

May Sugar
Recommended Open BW Position Long 2 at 843 avg
Support should appear near 823 to 814 .
Resistance should appear near 847 to 852

May Cotton
Recommended Open BW Position Long at 5710
Support should appear near the 5575 to 5555
Resistance is at 5715 to 5730 .

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

Happy Trading!
Bill
wil@futurescom.com

1-561-433-2995
Friday, February 14th, 2003
7:30 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.