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FuturesCom Investment Publications
Morning Comments  Tuesday June 2nd 2004
 Serving Professional and Individual Traders World Wide since 1988
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Monday June 1st 2004
3:00 PM. West Palm Beach Time  

Open BW Positions

                                The Frenzied Forex Front
June Yen
Resistance should appear near 9044 to 9060 and 9140 to 9156
Support should appear near the 8964 to 8934 and 8871 to 8856

June Euro Currency 

Recommended Open Position Short  5 at 12148 Avg
Support should appear at  1.2175 and 12102 
Resistance
is at 12247 and 12320 to 12380 

June Swiss Francs
Recommended Open Position Short  8 at 7943 Avg.
Resistance
should appear near 8029 to 8044 and the 8119 to 8134 region.
Support should appear near the 7954 to 7939 

June British Pounds
Recommended Open Position Short  17512 
Support
 should appear near 18220 to 18080
Resistance
should appear near 18400 and the1.8580 to 1.8650 region.

June Canadian Dollar
Recommended Open Position Short 2 at  7265 Avg.
Support should appear near 7291 and 7255 to 7242
Resistance is at 7328 to 7342.

Sept Canadian Dollar 
S
upport should appear near 7255 to 7242
Resistance is at 7328 to 7342

June Aussie Dollar 
Support
should appear near 7003 to 6990 
Resistance should appear at 7074 to7088 and 7115 

 

                                              The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance
should appear near 10257 and 10320 to 10360
Support should appear near 10185 and 10137 to 10104.

June SP500
Recommended open position Long 4 at 1120.20 avg.
Resistance
should appear near 1126.70 and the 1130.00 to 1136 region.. 
Support
should appear near 1115.50  and 1101 to 1096..

Nasdaq Composite
Support
should appear near 1953 to 1946 and 1909 to 1902 ..
Resistance should appear near 1996, a close over augurs for a test of 2034 to 2042 

June Mini Nasdaq 100
Resistance
is at 1484 to 1496 and the 1529 to 1536 region.
Support is at 1459 to 1453 and 1421 to 1415 ..

Sept 10 Year T-Note
Resistance
should appear near  118-07 and 108-22
Support is at 107-22 and 107-07

Precious Metals

August Gold 
Recommended Open Position Short at  396.1
Resistance
should appear at 398.2 to 399.2 and the 404.60 to 405.60 region.
Support
is at 392.9 to 390.9 , a close under augurs for a test of 386.7 to 385.8 

July Copper
Recommended Open Position Short  114.45
Support should appear near 127.40 to 126.80 and 123.80 to 123.20
Resistance should appear near 130.40 to 131.00 and 133.40 to 134.60.

July Silver
Support
should appear 603.5 to 602.5 and 588 to 585.5.
Resistance
is at 616.5 to 619.0 and the 625.5 to 627 region. 

                                The Exciting Energies
July Crude Oil
Recommended Open position Short 4107
Resistance 
should appear near 4238 to 4249 and 4304 to 4315
Support
should appear near 4183 to 4163 and 4120 to 4110

July Unleaded  Gas
Resistance should appear near 13770 to 13830. Beyond that sellers should appear near14150 to 14210 and cap a rally ..
Support should appear near 13460 to 13340 and 12740 to 12680

July Heating Oil
Re
sistance should appear near 10680 and 10820  Beyond that sellers should appear near 10960 to 11010
Support
should appear near 10360 to 10320 and 10135 to 10105.   

                                                    The Lively Livestock

August Cattle
Support
should appear at 8777 to 8762 and the 8682 to 8667 region. 
Resistance
is at 8857 to 8872 and 8932 to 8967.

July Hogs
Support
is at 7602 to 7587 and 7512 to 7487 
Resistance is at 7672 to 7692 and the 7762 to 7777 region 
BW Traders can sell at 7762 and risk a close over 7877 for three days in row. 

August Hogs
Support
is at 7487  and 7432 to 7417 
Resistance is at 7587 to 7602 and 7672 to 7692

July Pork Bellies
Resistance
should appear near 11640 to 11690 . Beyond that sellers should appear near 11805.  
Support  is 11500 and 11360 . 

      ---  Traders should stay tuned for BW Updates and Flashes in the Livestock markets  ---

 

The Grande’ Grains

July Corn
Support
should appear near 315 3/4 to 314 3/4 and 310 1/4 to 309 1/4 
Resistance
 is at to 337 3/4 to 338 3/4 and 342 1/2 

BW  Traders can sell at 325 ¾ and risk a close over 3335 ¼ for three days in a row. 

July Soybeans
Resistance
is at 876 1/4  to 877 3/4 and 904 1/2 to 906 
Support is at  858 3/4 to 856 and 831 1/2 to 830 

November Beans
Support
is at 717 to 714 and 683 3/4  to 680 3/4
Resistance
should appear near  741 1/2 to 742 3/4 and the 777 3/4 to 776 1/4 region.

July Soymeal
Support
should appear near the 267.2 to 266.3 and 256.8 to 255.2
Resistance should appear near 275.8 to 277.5 BW  Traders can sell at 275.7 and risk a close over 283.6 for three days in a row... Beyond that sellers should appear near 282 to 282.9 and 292.8 to 293.7 

July Soybean Oil
Recommended Open position Short 2924
Resistance should appear near  2972 to 2990 and  3036 to 3045 
Support should appear near 2937 to 2924 and 2883 to 2874 .                              

July CBOT Wheat
Recommended open Position Short at 373 1/2 
Support should appear near 380 3/4 to 379 1/2 and 374 1/4 to 373 1/2.  
Resistance
  should appear near 390 3/4 to 392 3/4 and 398 1/4 to 399 1/4


                                  The Satisfying Softs

July the ‘Monster’ Coffee
Support
is near 8225 to 8195 and the 8135 to 8115 region.. BW Traders can buy at 8135 and hold for higher prices.. risk a close under 7820 for three days in a row.. Below that buyers should appear near the 7780 to 7765 0 region.
Resistance should appear near 8300 to 8315 and 8485 to 8500 .. Beyond that a test of 8560 to 8590 is likely.  

July Cocoa 
Recommended Open Position Short 1374
Support is at 1421 to 1415.. A close under augurs for a test of 1346 to 1334 and eventually the 1310 to 1304 region.
Resistance is at 1453 to 1459 and 1484 to 1496.. 

July Sugar
Recommended Open Position Short  655
Support
should appear near 712 to 704   
Resistance
should appear near  735 to 739.

July  Cotton
Support should appear near 5880 to 5855 and 5730 to 5715, which should hold.    
Resistance
should appear near 6025 to 6045 and 6105 to 6115  

 _A Ship in Harbor is Safe...But that is not what ships are built for -

Happy Trading!    

Bill
 wil@futurescom.com

1-866-409-3890  

Monday June 1st  2004
4:30 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
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-2004 all rights reserved


Recommended Open BW  Positions:
Short 5 June  EC 12148 avg
Short 8 June Swiss Franc 7943 avg
Short  June  British Pounds  17512
Short  2 June Canadian Dollars 7265 avg
Long  4 June SP500 1120.20 avg 
Short August Gold 396.1 
Short July Copper 11445 
Short July Crude Oil 4107
Short July Soybean Oil 2924
Short July Sugar 655
Short July Wheat 373 1/2 
Short July Cocoa 1374