FuturesCom
Investment Publications
Morning Comments,
Wed February 25th, 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
Tuesday Feb 24th 2004
1:45 PM eastern time
The
Frenzied Forex Front
March Yen
Recommended open position Short 9232
Resistance should appear near 9317 to 9347 and the 9429 to
9445 region
Support should appear near 9156 to 9140
Aggressive BW traders should go short if as close under 9137 occurs
March Euro Currency (EC)
Recommended open position short 12672
Support should appear at 12680 and 12530
Resistance is at 12740 and 12890.
Stay tuned for Updates
March Swiss Franc
Recommended open positions short 7991
Resistance should appear near
8119 to 8134 and the 8194 to 8223 region should cap a rally for a bit.
Support should appear near
8044 to 8029
March British Pound
Support should appear near 1.8680 to 1.8580
Resistance should appear near 19020 to 1.9090.
Stay tuned for Updates and Flashes
March Canadian Dollar
Recommended open position Short at 7469
Support should appear near
7513 to 7487
Resistance is at 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
Recommended open position short 7762
Support should appear near 7777 to 7763 and 7689 to 7675
Resistance should appear at 7836 to 7864 and the 7939 to 7954 region.
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 10580 to 10630 and 10680
Support should appear near 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 1136 and 1150
Support should appear near 1133.00 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 113-22. and 114-07
Support is at 113-07 and 112-22
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
Recommended open position long 132.90
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 133.40
to 134.60 and he 137.70 to 138.30 region.
May Silver
Recommended open position long 664
Support should appear 659.5 to 657.5 and 650.5 to 648.5
Resistance is at 665.5 to 667.5. and 680.5 to 683.5
The Exciting Energies
April
Crude Oil
Support should appear near
3443 to 3425 and 3386 to 3378
Resistance is at
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 7512 to 7478 and 7427 to 7412
Resistance is at 7587 to 7602 and 7762 to 7777
BW Traders can sell at 7582 and risk a close over 7732 for three days in a row
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 should apear near 931 ¾ to 934 ¾
and 952 3/4 to 954 1/4
Support should appear at 906 to 904 1/2 and 868 ¼ to 866 ¾ ..
May
Soymeal
Support should appear near 272.4 to 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 3425 to 3443 . Beyond that sellers should
appear near 3493 to 3503
Support should appear near 3328 to 3319 and 3270 to 3261
May Corn
Recommended open postion long
Resistance should appear near 299 and the 303 3/4 to 304
1/2 region..
Support is at 293 1/2 to 292 3/4 and 288 1/4 to 287 1/4
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
4 at 7525 Avg
Support is near 7430 to 7415 and 7345 to 7325.
Resistance should appear near 7485 to 7515 and 7675 to 7690
May Cocoa
Recommended Open Position Short 2 at 1518 avg
Support is at 1484 and 1459 to 1453
Resistance should appear near 1529 to 1535
May Sugar
Recommended Open Position Short at 581
Support should appear near 586 to 582
Resistance should appear near 609 and 630 to 634
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
Tuesday
February 24th 2004
3:00 PM South Florida Beach Time
Recommended Open Positions
Short Marc Yen 9232
Short Marc EC 12672
Short March Swiss Franc 7991
Short March Canandian Dollar 7469
Short March Aussie Dollar 77562
Long 3 March SP500 1148.3 avg
Short April Gold 398
Long May Silver 664
Long May Copper 132.90
Short April hogs 5880
Long 2 July Hogs / 2 Short April Hogs +97.5
Long May Wheat 398
Long May Corn 297 3/4
Long 4 May Coffee 7525 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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