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Morning Comments,
Friday March 26th, 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
"Among the hazards of
speculation the happening of the unexpected - I might even say the unexpectable
ranks high. There are certain chances that the most prudent man is justified
in
taking - chances that he must take if he wishes to be more than a mercantile
mollusk"
-Reminiscences of a Stock operator-
Thursday March 25th 2004
5:30 PM .. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9526 to 9542
Support should appear near 9429 and 9347 to 9316
June Euro Currency (EC)
Support should appear at 1.2030
to 1.1960.
Resistance is at 12175 and 12320 to 12380.
June Swiss
Franc
Recommended Open position 7828
Resistance should appear near 7836
to 7864 and 7939 to 7954
Support should appear near the
7777 to 7763 region .
June British Pound
Recommended Open Position Short 1.7955
Support should appear near 17800 to 17740
Resistance should appear near 1.8080
to 1.8220
June Canadian Dollar
Recommended Open Position Short 7430
Support should appear near 7428
to7414 and the 7342 to 7328 region.
Resistance is at 7513 and
7587 to 7601. BW Traders can sell at 7586
for a turn lower and risk a close over 7643 for
three days in a row...
June Aussie Dollar
Recommended Open Position Short 7320
Support should appear near the 7255 to 7242 region ,
Resistance should appear at 7328 to 7342 and 7414 to 7428
Trade Accordingly and stay tuned for Updates..
The
Sensational Stock and Bond Markets
Dow
Jones Industrial Average
Resistance should appear
near 10320 to 10360
Support should appear near 10,180 and 10136 to 10104
June SP500
Recommended Open Position Long at 1101.3
Resistance should appear near 1115.50 and 1130 to 1136
Support should appear near 1101 to 1096 and 1082
Aggressive BW Traders should go long if a close over 1115.90 occurs
Nasdaq Composite
Support should appear near 1953 to 1909
Resistance should appear
near 1982 to 1996
June Mini
Nasdaq 100
Resistance is at 1453 to 1459
Support is at 1421 to 1415 and 1383 to 1377
June
10 Year T-Note
Resistance should
appear near 116-07 and116-22.
Support is
at 115-22 and 115-07..
Precious Metals
June Gold
Recommended Open Position Short 2 at 418
Support should appear at 416.3 and 412 to 411
Resistance is at the 423.8
to 424.9 region
April Gold
Recommended Open Position Short 2 at 403.1 avg
May Copper
Support should appear near 133.40 and the 131.00 to 130.40 region..
Resistance should appear near 137.70
to 138.30 and 141.50 to 142.10.
May Silver
Support should appear 751.5 to 748.5 and 734.2 to 732.8
Resistance is at 776.5 to 777.5 and the 802.9 to 804.4 region.
The Exciting Energies
May
Crude Oil
Support
should
appear near 3504 to 3493 and
3443 to 3425
Resistance is at 3563 and 3613
to 3623 .
May Unleaded
Gas
Resistance should appear
near 11010 to 10960 and 10680 to 10630
Support should appear near 11300 to
11340
May Heating Oil
Resistance should appear near 8856 to
8871 and 8934 to 8964.
Beyond that sellers should appear near 9044 to 9060
Support should appear near 8777 to 8762 and 8589 to 8560
Trade Accordingly…
The Lively Livestock
June Cattle
Recommended open position Short 7357
Support should appear at 7257 to 7242 and 7170 to 7142
Resistance is at 7327 to 7342 and 7417 to 7427
June Hogs
Support is at 7142 and 7087 to 7072
Resistance is at 7242 to 7257 , a close over augurs for a test of
7327 to 7342
and the 7412 to7427 region.
Aggressive BW Traders should go long if a close over 7257 occurs
July Hogs
Support is at 6757 to 6742 and the 6672 to 6652 region. BW Traders can buy at 6672 and risk a close under 6482 for
three days in a row.
Resistance is at 6837 and 6912 to
6922 .. a close over augurs for a test of 6987 to 7002 and the 7072 to 7087
region.
May Pork
Bellies
Recommended open position Short 10122
Support should appear near 10360 to 10320 and 10187
Resistance is at 10630 to 10680 and
10820
The Grande’ Grains
May Soybeans
Resistance is at 1032 to 1036 and 1058 to 1068
Support should appear at 1005 to 1000 and the 983 3/4 to 982 1/4 region
May
Soymeal
Support should appear near 315.7 to 314.8 and 310.1 to 309.2
Resistance should appear near 321.2 and 326.1 to 327
May Soybean Oil
Resistance should appear near 3377 to 3386 and 3425 to 3443
Support should appear near 3328 to 3319 and
3270 to 3261
July Corn
Recommended open position long at 323 1/2
Resistance should appear near 314 3/4
to 315 3/4 and 319 1/2 to
321 1/4 .
Support is at 310 1/4 to 309 1/4 and 304 1/2 to 303 3/4
May CBOT Wheat
Recommended Open Position Long at 391 1/2
Support should appear near 405 3/4 to 404 3/4 and 399 1/4 to 398
1/4
Resistance should appear
near 411 to 412 and 416 1/4 to 418 1/4
The Satisfying Softs
May the ‘Monster’ Coffee
Recommended open Position Long
7645
Support is near 7005 to 6990 and 6835 to 6810
Resistance should appear near 7170 and
7240 to 7255.
May Cocoa
Support is at 1459 to 1453 and 1421 to 1415
Resistance should appear near 1484 to 1496 and
1529 to 1535
May
Sugar
Recommended Open position Short 656
Support should appear near 634 to 630 and 586 to 582
Resistance should appear near 682 to 686 and 704 to 712
May Cotton
Support
should appear near the 6350 to 6335 region. ..BW Traders can buy at 6355 and risk a close under 6245 for three days in a
row.
Below that support is at 6270 to
6255 and the 6190 to 6165 region.
Resistance should appear near 6485 to 6510 and the 6655 to 6670 region.
A 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
Thursday March 25th, 2004
6:35 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
Recommended Open Positions
Short June Swiss Francs 7828
Short June British Pounds 17955
Short June Canadian Dollars 7467
Short June Aussie dollars 7320
Long June SP500 1101.30
Short 2 April Gold 403.1 avg
Short 2 June 418
Short June Cattle 7357
Short May Pork Bellies 10122
Long July Corn 323 1/2
Long May Wheat 391 1/2 9095
Long May Coffee 7645
Short May Sugar 656