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Morning Comments,
Monday March 29th, 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 -
Saturday March 27th 2004
8:00 AM .. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9526 to 9542 beyond that sellers
should appear near 9625 to 9641
Support should appear near 9445 to 9429, a close under augurs for a test of 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
Resistance
should appear near 7836
to 7864 and 7939 to 7954
Support should appear near the
7777 to 7763 region.. Below that buyers should appear near 7689 to 7675.
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 7513
to 7486 and the 7428
to7414 region.
Resistance is at 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 7342 to 7328
Resistance should appear at 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
June
10 Year T-Note
Resistance should
appear near 115-22 and 116-07.
Support is
at 115-07
and 114-22
Precious Metals
June Gold
Recommended Open Position Short 2 at 418
Support should appear at 418.6 to 416.3
Resistance is at the 423.8
to 424.9 region
May Copper
Support should appear near 134.60 to 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 3563 to 3353 and the 3504 to 3493
region
Resistance is at 3613
to 3623 and 3663 to 3682
May Unleaded
Gas
Resistance should appear
near 11300 to 11360 and the 11640 to 11690 region.
Support should appear near 111010 to
10960 .. a close under augurs for a test of 10680 to 10580
May Heating Oil
Resistance should appear near 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 7342 to 7327 and 7257 to 7242
Resistance is at 7417 to 7427 and the 7487 to 7512 region
June Hogs
Support is at 7142 and 7087 to 7072 .. Below that a test of 7002 to
69923 is likely.
Resistance is at 7242 to 7257 , a close over augurs for a test of
7327 to 7342
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 10680 to 10630 and 10580..a close under
augurs for a test 10360 to 10320
Resistance is at 10820 and
10960 to 11010.
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 ..
traders can buy at 304 3/4 and risk a close under 292 1/4 for three days in a
row.
May CBOT Wheat
Recommended Open Position Long at 391 1/2
Support should appear near 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 7170 to 7140 then 7090 to 7075 and the 7005 to 6990
region.
Resistance should appear near 7240 to 7255
and the 7325 to 7340 region.
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
Support should appear near 601 and 586 to 582... below that buyers should
appear near 562 to 559
Resistance should appear near 630 to 634 and 682 to 686
May Cotton
Support
should appear near the 6350 to 6335
region and 6270 to 6255.
.BW Traders can buy at 6355 and risk a close under 6245 for three days in a
row.
Resistance should appear near 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
Saturday March 27th, 2004
9:15 AM 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 British Pounds 17955
Short June Canadian Dollars 7430
Short June Aussie dollars 7320
Long June SP500 1101.30
Short 2 June Gold 418.00
Short June Cattle 7357
Short May Pork Bellies 10122
Long July Corn 323 1/2
Long May Wheat 391 1/2
Long May Coffee 7645
Value 2-08-2004 55,000
Value 3-27-2004 61,005.50
Approx. Excess Available Margin 25,000