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Morning Comments,
Thursday April 8th 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
Wed April 7th 2004
3:00 PM .. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9526 to 9542 and 9625 to 9641
Support should appear near 9445 to 9429 region and the 9347 to 9318
region.
June Euro Currency (EC)
Recommended open position Short at 12174
Support should appear at 12030 to 1.1920, a close under augurs for a test of 11805
Resistance is at 12175 then 12247 and 12320 to 12360
Aggressive
BW Traders should go short if a close under 11917 occurs
June Swiss
Franc
Recommended Open Position Short 7752 avg
Resistance should appear near 7850 to 7864 and 7907
Support should appear near 7777
to 7763 ..
June British Pound
Recommended Open Position Short 2 at 18007 avg
Support should appear near 18220 to 18080 and 1.7940
Resistance should appear near 18400 and 18580 to 18650 .
June Canadian Dollar
Recommended Open Position Short 7586
Support should appear near 7601
to 7587 and 7513 to 7486
Resistance is at 7675 to 7689
and the 7763 to 7777 region.
BW Traders should go short if a close under 7482 occurs..
June Aussie Dollar
Recommended Open Position Short 2 at 7389 avg
Support should appear near 7513 to 7487
Resistance should appear at 7601 and 7675 to 7689 BW
traders can sell at 7671 and
risk a close over 7782 for three days in a row.
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 10320i
June SP500
Recommended Open Position Long 2 at 1111.50 avg
Resistance should appear near 1164.00 to 1169.00
Support should appear near the 1136.00 to 1130.00
Traders should stay tuned for Flashes and Updates
Nasdaq Composite
Support should appear near 2042 to 2034 and 1996 to 1982
Resistance should appear near 2080 to 2089 and 2126 to 2134
June Mini Nasdaq 100
Resistance is at 1529 to 1539 and the 1569 to 1576 region..
Support is at 1484 and 1459 to 1453 .
June
10 Year T-Note
Resistance should
appear near 113-07 and 113-22
Support
is
at 112-22 and 112-07
Precious Metals
June Gold
Recommended Open Position Short at 418
Support should appear at 418.3 to 416.3 and 412 to 411.0
Resistance is at 423.8 to 424.9 and 430.4
to 431.5
May Copper
Support should appear near 130.40 Failure there augurs for a test of
127.40 to 126.80 and the 123.80to 123.20 region, which should hold..
Resistance should appear near 133.40
to 134.60 and 137.70 to 138. 30
May Silver
Support should appear 804.5 to 802.5 and the 795.5 to 794.0 region.
Resistance is at 830 to 831.5 and the 848.5 to 849.5
region.
The Exciting Energies
May
Crude Oil
Resistance should
appear 3663 to 3682 and 3734 to 3743
Support is at 3563 to 3553 and 3503 top 3493
May Unleaded
Gas
Resistance should appear
near 11300 to 11360 and 11640 to 11690.
Support should appear near 11010 to
10960 and the10680 to 10580 region.
May Heating Oil
Resistance should appear near 9140 to
9155 and 9315 to 9345
Support should appear near 9045 then 8965 to 8935 and 8780 to 8765
Trade Accordingly…
The Lively Livestock
June Cattle
Recommended open position short at 7357
Support should appear at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7687 and 7762 to 7777
June Hogs
Support is at 7342 to 7327 and 7257 to 7242
Resistance is at 7412 to 7427 and the 7487 to 7512 region.
July Hogs
Recommended Open Position Long at 7255
Support is at 7172 to 7142 and 7087 to 7072 .
Resistance is at 7327 to
7342 and 7412 to 7427.
May Pork
Bellies
Recommended open position Short at 10122
Support should appear near 10360 to 10320 and 10192
Resistance is at 10580 to 10630 and
10680
The Grande’ Grains
July Soybeans
Resistance is at 1032 to 1036 .
Support should appear at 1005 to 1000.
Trade According and Stay tuned for Updates
July
Soymeal
Support should appear near 321.3 to 319.4 and the 315.7 to 314.8 region
Resistance should appear near 326.1 to 327.0 and 331.9 to 332.8
July Soybean Oil
Resistance should appear near 3261 to 3270 and 3319 to 3328 ..
Support should appear near 3213 to 3193
and 3157 to 3148
Aggressive BW Traders who have ‘ice water running thru their veins’
can go short if a close under 3189 occurs
Stay tuned for BW Flashes and Updates..
July Corn
Recommended open position Long 323 1/2
Resistance should appear near 342 1/2 to 344 1/2
Support is at 332 3/4 to 331 3/4 BW Traders can buy at 329 3/4 and hold
for higher prices.
Below that buyers should appear near 326 to 326 1/4...
BW Traders should go long if a close over 338 3/4 occurs.
December Corn
Recommended open Position long at 333 1/4
Resistance should appear near 337 3/4 to 338 3/4 and the 349 1/4 to 350 1/4
region
Support is at 332 3/4 to 331 3/4 and 326 3/ 4 to 326 1/4
BW Traders should go long if a close
over 339 1/4 occurs.
May CBOT Wheat
Support should appear near 412 to 411 and 392 3/4 to 390 3/4
Resistance should appear near 418 1/4 and
423 3/4 to 424 3/4.. A close over is friendly and augurs for a test of 430
1./2 to 431 1/2
BW Traders should go long
if a close over 419 1/4 occurs
July CBOT Wheat
Support should appear near 418 1/4 to 416 1/4 and 412 to 411.. Below that
buyers should appear near 405 3/4 to
404 3/4
Resistance should appear
near 430 1/2 to 431 1/2 and the 442
1/2 to 444 3/4 region…
BW Traders should go long if a close over 431 1/2
occurs
The
Satisfying Softs
May Coffee
Recommended open Position Long
7645
Support is near 7255 to 7240 then 7170 to 7145 and 7090 to 7075
Resistance should appear near 7345 then7415 to 7430 and 7485 to
7515
July the ‘Monster’ Coffee
Support is near 7515 to 7485 and 7425 to 7410 ..Below that buyers should appear near 7345 to
7325
Resistance should appear near 7585 to 7605 and the 7675 to 7690
region
BW Traders should go long if a close over 7615 occurs .
July Cocoa
Support is at 1383 to 1377 and the 1346 to 1334 region..
Resistance is at 1415 to 1421 and 1453 to 1459 .
BW Traders should go short if a close under 1412 occurs.
July
Sugar
Recommended open position Short 681
Support should appear near 686 to 682 and 661 to 656
Resistance should appear near the 704 to 712
region.
July Cotton
Support
should appear near 6350 to
6335 and the 6115 to 6105 region
BW .Traders can buy at 6115 and
hold for higher prices. Risk a close under 5935 for three days in a row.
Resistance should appear near 6485 to 6510 and 6575 to 6590 . A close
over is friendly and augurs for a test 6740 to 6755 and eventually the 6810 to
6835 region..BW Traders should go long if a close over 6525 occurs
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
Wed April 7th,
2004
4:00 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 EC 12174
Short 2 June Swiss Franc 7752 avg
Short 2 June British Pounds at 18007 avg
Short June Canadian Dollars 7586
Short 2 June Aussie dollars at 7389 avg
Long 2 June SP500 1111.50 avg
Short June Gold 418.00
Short June Cattle 7357
Long July Hogs 7255
Short May Pork Bellies 10122
Long July Corn 323 1/2
Long December Corn 333 1/4
Long May Coffee 7645
Short July Sugar 681