FuturesCom
Investment Publications
Morning Comments,
Tuesday February 24th, 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
Monday Feb 23rd 2004
2:00 PM eastern time
The
Frenzied Forex Front
March Yen
Recommended open position Short 9232
Resistance should appear near the 9237 and 9317 to 9347 and the 9429 to
9445 ..
Support should appear near 9156 to 9140
Aggressive BW traders should go short if as close under 9137 occurs
March Euro Currency (EC)
Support should appear at 12530 and 1.2380 to 1.2320. Which should hold for a
bit..
Resistance is at 12680 to 12740.. BW Traders can sell at 126.72 and hold for lower
prices.
Risk a close over 12772 for three days in a row..
Stay tuned for Updates
March Swiss Franc
Resistance should appear near
7954 and 8029 to 8044..BW Traders can sell at 7991 and risk a close over
8049 for three days in a row. Beyond
that 8119 to 8134 and the 8194 to 8223 region should cap a rally for a bit.
Support should appear near
7864 to 7834
Aggressive BW Traders should go short if a close under 7902
occurs
March British Pound
Support should appear near 1.8220 to 1.8080
Resistance should appear near 1.8560 and the 19020 to 1.9090 region.
Stay tuned for Updates and Flashes
March Canadian Dollar
Recommended open position Short at 7469
Support should appear near
7428 to 7414
Resistance is at 7487 to 7513 and
7587 to 7601 .. beyond that sellers should appear near 7675 to 7689
BW Traders can sell at 7672 and risk a close over 7787 for three
days in a row.
March Aussie Dollar
Support should appear near 7601 to 7587, a close under augurs for a test of
7513 to 7487 and the 7342 to 7328 region , which should contain a decline
for a bit..
Resistance should appear at 7689 and 7763 to 7777. Beyond that resistance
should appear near 7836 to 7864 and the 7939 to 7954 region. BW Traders can sell
at 7762 for turn lower and risk a close over 7872 for three days in row..
BW Traders should go short if a close under 7636 occurs..
The
Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear
near 10630 and 10680.. Beyond that a test of 10820 and the
10960 to 11010 region is likely..
Support should appear near 10580 then 10470 and the 10360 to 10320
region. which should hold
March SP500
Recommended Open Position Long 3 at 1148.40 avg
Resistance
should appear near 1150
Support should appear near 1136.00 to 1130.00..Below that support should
appear near 1115.50 and the 1101 to 1096 region..
BW Traders should go long if a close over 1150.30 occurs..
Trade accordingly and Stay tuned for updates and flashes …
Nasdaq Composite
Resistance should appear near 2034 to 2042
Support should appear near the 1996 to 1982 region
March Mini Nasdaq 100
Recommended open position long
at 1472
Resistance is at 1484 to 1496,
Support should appear near the 1459 to 1453 region. Below that
buyers should appear near 1421 to 1415
June 10 Year T-Note
Resistance should
appear near 113-07 and 113-22.
Support is at 112-22 and 112-07
Precious Metals
April Gold
Recommended open position Short at 398
Support should appear at the 392.9
to 390.9 region
Resistance is at the 404.6 to 405.6
May Copper
Support should appear near 130.40 and 127.40 to 126.80.. Below that buyers
should appear near 123.80 to 123.20.
BW Traders can buy at 123.90 and risk a close under 119.40 for three days
in a row.
Resistance should appear near 33.40
to 134.60 and he 137.70 to 138.30 region.
BW Traders should go long if a close over 1.3120 occurs.
May Silver
Support should appear 648.5, a close under augurs for a test of
635 to 633.5 Below that buyers should appear near 627 to 625
and the 619 to 616.5 region. BW Traders can buy at
620.5 for a good bounce and hold
for higher prices, risking
a close under 610 for three in a row..
Resistance is at 657.5 to 659.5 and 665.5 to 667.5.
Aggressive BW Traders should go
long if a close over 659.5 occurs..
The Exciting Energies
April
Crude Oil
Support should appear near
3386 to 3378, a close under augurs for a test
of 3328 to 3319 and eventually
the 3213 to 3194 region.
Resistance is at
3443 and the 3493 to 3503 region. Beyond that sellers should appear near
3553 to 3563 and the 3613 to 3623 region which should Cap a rally for a bit..
BW Traders should go short if a close under 3422 occurs..
April
Unleaded Gas
Resistance should appear
near 10960 to 11010 and the 11300 to 11360 region.
Support should appear near 10680 to 10580 , a close under augurs for a test of 10360 to 10320 and eventually the
10135 to 10105 .. A slip under is negative and augurs for a test of 9735 to 9705
and 9345 to 9315 region BW Traders should go short if a close under 10570 occurs
April Heating Oil
Resistance should appear near 8765 to
8775 and the 8855 to 8870 region. Beyond that sellers should appear near 9045 to
9060..
Support should appear near 8590 to 8560 and the 8315 to 8300 region. A close
under augurs for a test of 8135 to 8115. Below that support should appear near
7955 to 7940 and the 7780 to 7765 region.
BW Traders should go short if a close under 8665 occurs..
The Lively Livestock
April Cattle
Support should appear near 7342 to 7327 and 7257 to 7242
Resistance is at 7412 to 7427.. Beyond that sellers should appear near
7487 to 7512 and the 7587 to 7602 region. BW Traders can sell at 7582 and risk a close over 7732 for three days in a row
BW Traders should go short if a close under 7237 occurs
April Hogs
Recommended open position short at 5880
Support is at 6037 to 6022 and 5957 to 5942,
Resistance is at 6102 to 6112 and 6257 to 6272
BW Traders should go short if a close under 6017 occurs .
Recommended open position
Long 2 July Hogs / Short 2 April Hogs +97.5
March Pork Bellies
Recommended Open Position Short at 9702
Support should appear near 9542 to 9522 region.
Resistance is at 9762 to 9777 and
9922 to 9937
The Grande’ Grains
May Soybeans
Resistance is at the 914 to 915 ¾ region..
Beyond that sellers should appear near 931 ¾ to 934 ¾
Which should cap a rally
Support should appear at 868 ¼ to 866 ¾ .. below
that buyers should appear near 858
¾ to 856 ¾
May
Soymeal
Support should appear near 272.4 top 271.6
Resistance should appear near 282 to 282.9 and the 287.4 to 288.3 region…
BW Traders can sell at 287.3 for a turn lower and risk a close over 293.9
for three days in a row.
May Soybean Oil
Resistance should appear near 3377 to 3386 .. Beyond that sellers should
appear near 3493 to 3503 and cap the rally for a bit
Support should appear near 3328 to 3319 and 3270 to 3261
May Corn
Resistance should appear near 297 1/4 to 299 and the 303 3/4 to 304
1/2 region..
Support is at 288 1/4 to 287 1/4
BW Traders should go long if a close over 294 1/4 occurs.
May CBOT Wheat
Recommended open position long at 398 1/4
Support should appear near the 392 3/4 to 390 3/4 and 386 3/4 to 385
3/4
Resistance should appear near 404 3/4 to 405 3/4 and the 411 to 412
region.
The Satisfying Softs
May the ‘Monster’ Coffee
Recommended open Position Long
3 at 7540 Avg
Support is near 7005 to 6985 and the 6920 to 6905 region.
Resistance should appear near 7140 to 7170 and 7240 to 7255
BW Traders should go long if a close over 7345 occurs.
May Cocoa
Recommended Open Position Short 2 at 1518 avg
Support is at 1421 to 1415.
Resistance should appear near 1459 and 1484 to 1496
May Sugar
Recommended Open Position Short at 581
Support should appear near 586 to 582
Resistance should appear near 601 to 609
May Cotton
Support
should appear near 7005 to
6990 and 6920 to 6905.
Resistance should appear near 7075 to 7090 and 7140 to 7170
BW Traders should go long if a close over 7095 occurs
Ship in Harbor is Safe...But that is not what ships
are built for –
Stay tuned for
flashes and updates in all markets..
Happy Trading!
Bill
wil@futurescom.com
1-866-409-3890
Monday
February 23rd 2004
3:00 PM South Florida Beach Time
Recommended Open Positions
Short Marc Yen 9232
Long 3 March SP500 1148.3 avg
Short April hogs 5880
Long 2 July Hogs / 2 Short April Hogs +97.5
Long 3 May Coffee 7540 avg
Short 2 May Cocoa 1518 avg
Short May Sugar 581
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.
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