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FuturesCom
Investment Publications
Morning Comments Friday June 4th 2004
Serving Professional and Individual
Traders World Wide since 1988
7690 Rockport Circle , Lake Worth , Florida
33467 - USA and Canada Toll Free : 1-866-409-3890
- Intl : 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 June 3rd, 2004
7:00 PM. West Palm Beach
Time
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 the 8871 to 8856
region
June Euro Currency
Recommended Open Position Short 5 at 12148 Avg
Support should appear at
1.2175 and the 12030 to 11920 region
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 and the 7864 to 7836 region
September British Pounds
Recommended Open Position Short 18240
Support should appear near 18220 to 18080
Resistance should appear near 18400 and the1.8580 to 1.8650 region.
Sept Canadian Dollar
Recommended Open Position Short 2 at 7328.
Support should appear near 7255
to 7242 and 7170 to 7143
Resistance is at 7328 to 7342 and
7414 to 7428..
BW traders can sell at 7412 and risk a close over 7517 for three days in a
row.
June Aussie Dollar
Support should appear near 6836 to 6809 and 6755 to 6741
Resistance should appear at 6909 to 6919 and 6990 to 7003
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear
near 10320 to 10360
Support should appear near 10185 and 10137 to 10104.
June SP500
Recommended open position Long 2 at 1114.10 avg.
Resistance should appear near 1130.00 to 1136.
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 1982 to 1996 and 2034 to 2042
June Mini Nasdaq 100
Resistance is at 1453 to 1459 and 1484 to 1496.
Support is at 1421 to 1415 and 1383 to 1377
Sept
10 Year T-Note
Resistance should
appear near 118-07 then 108-22 and 109-07
Support is at 107-22
then 107-07
Precious
Metals
August Gold
Recommended Open Position Short at 396.1
Resistance should appear at 390.9 to 392.9 then 398.2 to 399.2 and the 404.60 to 405.60 region.
Support is at 386.7 to
385.8 then 380.6 to 379.5 and the 374.3 to 373.4 region
July Copper
Recommended Open Position Short 114.45
Support should appear near 123.80 to 123.20
and 12030 to 11920
Resistance should appear near 126.80
to 127.40 and 130.40
to 131.00.
July Silver
Support should appear 565.5 to 564 and 557.5 to 555.5 region
Resistance is at 585.5 to 588 and 594.5 to 595.5
The Exciting Energies
July Crude Oil
Resistance should
appear near 3982 to 3992 then 4046 to 4056 and 4110 to 4120
Support should appear near 3909 then 3867 to 3858 and the 3806 to 3795
region
July Unleaded
Gas
Resistance should appear
near 12680 to 12740 then 13040 to 13100 and 13340 to 13460.
Support should appear near 12380 to 12320 then12030
to 11920 and 11690 to 11640 region
July Heating Oil
Resistance should appear near
10020 to 10035 and the 10320 to 10360 region
Support should appear near 9835 to 9820 then 9735 to 9705 and 9545to
9525
The Lively Livestock
August Cattle
Support should appear at 8967 to 8932 and 8872 to 8857 .
Resistance is at 9042 to 9062 and 9137 to 9157
July Hogs
Recommended Open Position Short at 7762
Support is at 7762 then 7692 to 7672 and 7602 to 7587
Resistance is at 7837 to 7867 and the
7937 to 7952 region
August Hogs
Support is at 7692 to 7672 and 7607 to 7587
Resistance is at 7762 to 7777 and the 7837 to 7867 region
July Pork Bellies
Resistance should appear near 11805 and 11920
Support is 11642 and 11500
--- Traders should stay
tuned for BW Updates and Flashes in the Livestock markets
---
The
Grande’ Grains
July Corn
Support should appear near
304 3/4 to 303 3/4 and 299 to 297 1/4
Resistance is
at to 314 3/4 to 315 3/4 and 319 1/2 to 321 1/4
July Soybeans
Resistance is at 811 3/4 to 813 1/2 and 830 to 831 1/4
Support is at 795 1/2 to 793 3/4 and
777 3/4 to 776 1/4
November Beans
Support is at 683 3/4 to 680 3/4 and the 675 1/2 to 674 1/4 region..
Below that buyers should appear near 667 1/4 to 665 34..BW traders can buy at
667 3/4 and risk a close under 646 3/4 for three days in a row.
Resistance should appear near 690 3/4
to 691 3/4 and 699 1/4 to 700 1/4
July Soymeal
Support should appear near the 251.to 251.1 and 241,9 to 241.1
Resistance should appear near 255.2 to 256.8 and 261.2 to 262.0 .
July Soybean Oil
Resistance
should appear near 2820 to 2829 and 2874 to 2883
Support
should appear near 2775to
2755 and 2724 to 2716
July CBOT Wheat
Recommended open Position Short at 373 1/2
Support should appear near 366 1/4 then
362 1/4 to 361 1/4 and the 356 1/4 to 355 3/4 region
Resistance should appear near
373 3/4 to 374 3/4 then 379 1/2 to 380 3/4 and 385 3/4to 386 3/4
The
Satisfying Softs
July the ‘Monster’ Coffee
Support is near 8300 then 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 8395 to 8405 then 8485 to 8500 and 8560 to 8590.
July Cocoa
Recommended Open Position Short 1374
Support is at 1346 to
1334 and the 1310 to 1304 region.
Resistance is at 1377 to 1383 and 1415 to 1421.
July
Sugar
Support should appear near 686 to 682 and 661 to 656
Resistance should appear near 704 to 712 and 735 to 739.
July Cotton
Support should appear
near 5655 to 5640 and the 5580 to 5555
region
Resistance should appear near 5715 to 5730 and 5790 to 5805 and 5855 to 5880
-- A Ship in
Harbor is Safe...But that is not what ships are built for --
Happy Trading
!
Bill
wil@futurescom.com
Thursday June 3rd 2004
8:00 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.
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW
Positions:
Short 5 June EC 12148 avg
Short 8 June Swiss Franc 7943
avg
Short September British Pounds 18240
Short 2 Sept Canadian
Dollars 7328
Long 2 June SP500 1114.10 avg
Short August Gold 396.1
Short July Copper 11445
Short July Wheat 373 1/2
Short July Cocoa 1374