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Investment Publications
Morning Comments Tuesday January 20th 2004
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
Observation. experience ,
memory and mathematics--These are what a successful trader must depend on.
A man can have great mathematical ability and unusual power of accurate
observation
and yet fail in speculation unless he also possesses the experience and
memory.
- Reminiscences of a Stock operator-
Friday January 16th, 2004
3:00 PM Eastern time
Martin Luther King Holiday Schedule is at the end of
today's letter.
Have a safe and happy holiday !
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)
Support
should appear at 1.2320 and the 12030 to 11960 region
Resistance is at 12380 and 12530
March Swiss
Franc
Resistance
should appear near 7901 and 7939 to
7954
Support should appear near 7864 to 7836
March British Pound
Support should appear near 1.7800
to 1.7740 and the 1.7310 to 1.7380 ..
BW Traders can buy at 1.7830 and risk a close under 1.7720 for three days in
row.
Resistance should appear 1.7940 and
1.8080 to 1.8220.
March Canadian Dollar
Support should appear near 7675 .below that a slip to 7601 to 7587 is likely
Resistance is at the 7763 to 7777 and the 7836 to 7864 region .
March Aussie Dollar
Support should appear near 7513 to 7487 .
Resistance should appear at 7587 to 7601
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 1150 then 1164.00 to 1166.50 and 1169.00 .
Support should appear near 1136 to 1134 and 1130 .. below that buyers
should appear near 1115.50 , which should hold... below that support is 1101 to
1096 .BW Traders can buy at 1101.30 for a bounce and risk a close under 1094.7 for
three days in a row.
Nasdaq Composite
Resistance should appear near
2170 to 2185.
Support should appear near 2134 to 2126 and 2089 to 2080.
March Mini Nasdaq 100
Recommended open position 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 411 to 412
and 416.3 to 418.0
March Copper
Recommended open position 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 627 to 625.5 and 619 to 616.5
Resistance is at 633.5 to 637 and
641.5 to 643
The
Exciting Energies
March
Crude Oil
Support should appear near
3386 to 3377 and 3328 to 3319
Resistance is at 3425 to 3443 and 3493 to 3503
March Unleaded
Gas
Resistance should appear
near
1.0320 to 1.0360 and 10580 to 10680 .. Beyond that sellers should appear near
10960 to 11010 ..
BW Traders can sell at 10960 for a turn lower and risk a close over 11205 for
three days in a row,
Support should appear near the
9935 to 9920 and 9740 to 9705 . below that buyers should appear near 9345 to
9315
March Heating Oil
Resistance should appear near 9625 to
9640 and 9820 to 9835
Support should appear near 9545 to 9525
then 9235 and 9155 to 9140
The
Lively Livestock
February Live Cattle
Resistance should appear near 7935 to 7955 and 8030 to 8045
Support is at 7865 to 7835 and 7762 to 7777 .
April Cattle
Recommended open position short at 7452
Support should appear near 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7687 and
7762 to 7777
BW Traders can sell at 7672 for a turn lower and risk a close over 7872 for
three days in row.
February
Lean Hogs
Support
is at 5432 to 5412 and 5357 to 5342
Resistance is
5492 to 5507 and 5552 to 5577 Beyond that sellers should be evident near 5637 to
5652
April Hogs
Recommended open position short 2 at 5535 avg
Support is at 5792 then 5732 to 5717 and
5652 to 5637
Resistance is at 5852
to 5882 and the 5942 to 5957 region.
BW Traders can sell at 5852 and risk a close over 5962 for three days in a
row….
February Pork Bellies
Support
should appear near 8227 to
8192 then 8137 to 8117 and the 8047 to 8027 region.
Resistance is at 8302 to 8317
then 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 2972
to 2990 and 3036 to 3045.
Support should appear near 2937 to 2928
March Corn
Resistance should appear near 275 3/4 to 277 1/2 and 282 to 282 3/4
Support is at 271 3/4 and 267
1/4 to 266 1/4
March CBOT Wheat
Support should
appear near 392 3/4 to 390 3/4 and 386 3/4 to 385 3/4
Resistance should appear near 398 1/4 to 399 1/4 .and 404 3/4 to 405
3/4
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 7090 to 7075 then 7005 to 6990 and 6920 to 6905
Resistance should appear near 7145 to 7170 and the 7325 to 7345
region.
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
Friday January 16th
, 2004
4 00 PM South Florida Beach Time
-----------------------------------------------------------------------------------------
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
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
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