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FuturesCom
Investment Publications
Morning Comments Friday January 16th 2004
Experienced Since 1979 -
Serving Professional and Individual Traders World Wide since 1988
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The holiday schedule for observance of
martin luther kings birthday is at the end of today's letter
FuturesCom’s
New Year's Special!
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Courage in a Speculator is merely confidence to act on the decision of his mind
Thursday January 15th, 2004
1:45 PM Eastern time
The Frenzied Forex Front
March Yen
Recommended open position Short at 9427
Support should appear near 9347 to 9316
Resistance should appear near 9445 and the 9526 to 9543 region..
BW Traders should go short if a close under 9389 occurs
March Euro Currency (EC)
Recommended open position Short at 12646
Support should appear at 1.2530 and 1.2380 to 1.2320.
Resistance is at 12680 to 12740
March Swiss
Franc
Resistance
should appear near 8194
to 8223 and 8300 to 8314
Support should appear near 8029 and 7954 to 7939
March British Pound
Support should appear near 1.8080 and 1.7926
Resistance should appear 1.8220 and 1.8580 to
1.8560.
March Canadian Dollar
Support should appear near 7689
to 7675 .below that a slip to 7601 to 7587 is is likely
Resistance is at the 7763 to 7777 and the 7836 to 7864 region .
March Aussie Dollar
Support should appear near 7601 to 7587 .
Resistance should appear at 7675 to 7689 and 7763 to 7777
The
Sensational Stock and Bond Markets
Dow Jones
Industrial Average
Resistance should appear
near 10580 to 10630 and 10680
Support should appear near 10470 and 10360 to 10320
March SP500
Recommended Open Position Long at 1126.50
Resistance
should appear near 1136.00 and 1150.
Support should appear near 1130 then 1115.50 and 1101 to 1096, which should hold..
.
BW Traders can buy at 1101.30 for a bounce and risk a close under 1094.7 for
three days in a row.
BW Traders should go long if a close over 1136.30 occurs
Nasdaq Composite
Resistance should appear near
2126 to 2134.
Support should appear near 2089 to 2080.
March Mini Nasdaq 100
Recommended open positin long at 1545.5
Resistance is at 1569 to 1576
Support is at 1535 to 1529
March 10 Year T-Note
Resistance should
appear near 114-22 and 115-07
Support is at 114-07 and 113-22
Precious
Metals
February Gold
Support
should appear at 405.6 to 404.6 and
392.9 to 390.9
Resistance is at the 311 to 412
and 416.3 to 418.0
March Copper
Recommended open positin long at 10840
Support should appear near the 1.0680
to 1.0580 region.
Resistance should appear near 10960
to 11010
BW Traders should go long if a close over 11185 occurs.
March Silver
Support
should appear near 619 to 616.5 and 603.5 to 602.5
hould appear near 627 to 625.5 and the 619 to 616.5
region.
Resistance is at 625.5 to 627 and
633.5 to 637.
--Stay tuned for updates--
The
Exciting Energies
March
Crude Oil
Support should appear near
3213 to 3190 and 3157 to 3148
Resistance is at 3319 to 3328 and 3377 to 3386
March Unleaded
Gas
Resistance should appear
near 9705 to 9735 and 9920 to 9935
Support should appear near the
9315 to 9350 and 9235
March Heating Oil
Resistance should appear near 9315 to
9345 and 9525 to 9545
Support should appear near 9155 to
9140 and the 8965 to 8935 region
The
Lively Livestock
February Live Cattle
Recommended open position short at 7470
Support should appear near 7692 to 7672
Resistance is at 7762 to 7777 and 7837 to 7867.
April Cattle
Recommended open postion short at 7452
Support should appear near 7512 to 7487 and 7427 to 7412
Resistance is at 7587 to 7602
BW Traders can sell at 7672 for a turn lower and risk a close over 7872 for
three days in row.
February
Lean Hogs
Recommended open position short at 5197
Support is at 5357 to 5342 and 5282 to
5257
Resistance is
5417 to 5432 and the
5492 to 5507 region..BW
Traders can sell at 5487 and risk a close over
5587 for three days in a row. Beyond that sellers should be evident near 5637 to
5652
April Hogs
Recommended open position short 2 at 5535 avg
Support is at 5652 to 5637 and 5577 to 5552
Resistance is at 5717 to 5732..Beyond
that sellers should appear near
the 5792 to 5807 region.. Which should cap a rally for a bit..
BW Traders can sell at 5852 and risk a close over 5962 for three days in a
row….
February Pork Bellies
Recommended open postion short at
8385
Support should appear near 8302.
Under that a test of 8227 to
8192 and the 8047 to 8027 region is
likely..
Resistance is at 8392 to 8407
and 8487 to 8502 .
Traders should stay tuned for Updates
…The
Grande’ Grains
March Soybeans
Resistance
is at 839 1/4 to 840 3/4 and 848 1/2 to 849 3/4.
Support should appear at 831 1/2 to 830 1/4
and the 822 1/4 to 819 1/2 region
March
Soymeal
Support should appear near 256.8 to 255.2 and 246.9 to 246.1
Resistance should appear near 261.2 to 262 and 266.3 to 267.2
March Soybean Oil
Resistance should appear near the
3036 to 3045 region.
Support should appear near 2990 to 2972
March Corn
Resistance should appear near 271 3/4 to 272 1/2
Support is at the 262 to 261
1/4
March CBOT Wheat
Support should
appear near 386 3/4 to 385 3/4 and 380 3/4 to 379 1/2
Resistance should appear near 390 3/4 to 392 3/4 and 398 1/4 to 399 1/4 .
Trade Accordingly and Stay tuned for updates
The
Satisfying Softs
March the ‘Monster’ Coffee
Recommended open position long 2 at 7015 avg
Support is near 6920 to 6905 and 6835 to 6810
Resistance should appear near 6990 to 7005 and 7075 to 7090.
March Cocoa
Recommended open position short at 1605
Support is at 1576 to 1569 and the 1535 to 1529 region..
Resistance should appear near 1609 to 1612 and 1642 to 1655
March Sugar
Recommended open position short at 580
Support should appear near 562 to 558
Resistance should appear near 582 to 586 and 601 to 609 .
March
Cotton
Support should appear near 7430 to 7415 and 7340 to 7320
Resistance should appear near 7485
to 7515, a close over is friendly an augurs for a test of 7585 to 7605
BW Traders should go long if a close over 7520 occurs
A Ship in Harbor is Safe.. But that is not what ships are built for –
Happy
Trading!
Bill
wil@futurescom.com
1-866-409-3890
Thursday January 15, 2004
2 45 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.
-----------------------------------------------------------------------------------------
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Martin Luther King Holiday Schedule
Friday, Jan. 16:
The Bond Market Association has recommended a 2 p.m. EST close for the U.S.
government securities market.
U.S stock markets will observe a regular trading schedule.
CBOT will close its financial contracts at 1 p.m. EST
.
Electronic trading for financial and metal contracts will
close at 1:30 p.m. EST.
All other electronic trading closes at normal times.
CME: commodity, foreign exchange and interest rate futures will close
at 1 p.m. EST.
Stock index products close at their regularly
scheduled times.
NYMEX closes at 1 p.m. EST .
Sunday, Jan. 18:
CBOT overnight electronic trading will be closed.
CME GLOBEX electronic trading will begin at its usual time of 6:30 p.m. EST
Monday, Jan. 19:
The U.S. government securities market as well as all other bond markets will be closed.
All
U.S. Exchanges
will be closed.
However CBOT
Overnight trading reopens at normal times. GLOBEX trading ends at 11:30 a.m. EST
and reopens
at 6:30 p.m. EST .
NYMEX closed. ACCESS trading reopens at 7 p.m. EST