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FuturesCom Investment Publications
Morning Comments  Friday July 2nd,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-

Most U.S Markets have an early closing on Friday July 2nd. In addition All U.S. markets will be closed on Monday July 4th. (Globex opens normal time Sunday night and closes Monday morning). 

Have a Safe and Happy 4th !

Thursday July 1st, 2004
6:00 PM eastern time 

Open BW Positions

                                The Frenzied Forex Front
Sept Yen
Recommended open position Short at 9220
Resistance should appear near 9316 to 9347 and the 9429 to 9445  region ..
BW  Traders can sell at 9427 for a turn lower and risk a close over 9549 for three days in a row. 
Support should appear near 9237 and 9156 to 9140.

Sept Euro Currency (EC)
Recommended Open Position Short at 12173
Support should appear at  12102 and 12030 to 11920 
Resistance is at 12175 then 12248 and 12320 to 12380.

Sept Swiss Franc
Recommended Open Position Short 2 at 7963 Avg
Resistance should appear near  8029 to 8044 and the 8119 to 8134 region. 
Support should appear near 7954 to 7939 and 7864 to 7836 

Sept British Pound
Support  should appear near 17800 to 17740.
Resistance should appear near 18150 and 18220

Sept Canadian Dollar
 Recommended Open Position Short at 7327 
Support should appear near 7487 to 7428 to 7414  
Resistance is at 7513 and 7587 to 7601 

Sept Aussie Dollar
Support should appear near 7003 to 6990 
Resistance should appear at 7074 to 7088   

 

                                       The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10360 and 10470 . Beyond that a test of 10580 to 10630  is likely
Support should appear near 10320 then 10257and 10185.

September SP500
Recommended open position Long 2 at 1133 .00 avg
Resistance should appear near 1133 to 1136 and 1143.00 
An extended trade or close over augurs for a test of 1150 and most likely the 1164 to 1169 region.
Support should appear near 1115.50 and the 1101.00 to 1096.00 region offers support   
BW Traders can buy at 1115.50 for a good bounce and Hold for higher price..

BW Traders should go long if a close over 1143.40 occurs.

Nasdaq Composite
Support should appear near 1996 to 1982.
Resistance should appear near 2034 to 2042 

Sept Mini Nasdaq 100
Resistance is at 1529 to 1536 and 1569 to 1576
Support is at 1484 and 1459 to 1453

Sept 10 Year T-Note
Resistance should appear near 109-22 and 110-07
Support is at 109-07 and 108-22 

Precious Metals

August Gold
Recommended Open position Short 2  at 391.7  avg
Resistance should appear at  398.2 to 399.2 and 404.60 to 405.60   
Support is at 392.9 to 390.9 and 386.7 to 385.8 

Sept Copper
Support should appear near 12030 to 11920 and 11690 to 11640  
Resistance should appear near 12320 to 12380 and 12680 to 12740

Sept Silver
Support should appear 585.5 to 588  and 580.5 to 579.5... 
Resistance is at 602.5 to 603.5.and 616.5 to 619.0 

                                   The Exciting Energies
August Crude Oil
Resistance  should appear near 3909 to 3929 and 3982 to 3992.
Support should appear near 3867 to 3858 and 3806 to 3795.

August Unleaded  Gas
Recommended Open Position Short 1.2310 
Resistance should appear near 12320 to 12380 and 12680 to 12740 
Support should appear near 12030 to 11920 and 11690 to 11640. 

August Heating Oil
Resistance should appear near 10960 to 11010 and 11300 to 11360 
Support should appear near 10680 to 10630 and 10580    

                                                         The Lively Livestock
August Cattle
Recommended open position Short at 8645
Support should appear near   8502 to 8482 then 8407 to 8392 and 8317 to 8302  
Resistance is at 8562 to 8592 then 8667 to 8682 and 8762 to 8777  

August Hogs
Recommended Open Position Short 2 at 7627 avg
Support is at  7612 to 7587 and 7512 to 7487.
Resistance is at 7672 to 7692 and 7762 to 7777,

August Pork Bellies
Resistance should appear near 11157 and 11302 to 11332
Support  is 11012 to 10962 and 10822

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

 The Grande’ Grains

Sept Corn
Support should appear near 262 to 261 1/4 and 256 3/4 to 255 1/4
Resistance  is at 266 1/4 to 267 1/4 and 271 3/4 to 272 1/2 

August Soybeans
Support is at  795 1/2 to 793 3/4 then 786 1/2 to 783 3/4 and 777 3/4 to 776 1/4 
Resistance  is at  804 1/2 then  811 3/4 to 813 3/4 and the 819 1/2 to 822 3/4 region 

November Beans
Support is at  667 1/4 to 665 3/4 and 659 1/4 to 657 3/4 
Resistance is at 674 1/4 to 675 1/2 and  680 3/4 to 683 3/4

August Soymeal
Support should appear near  277.5 to 275.8 and 272.4 to  271.6 
Resistance should appear near 282.0 to 282.9 and the 287.4 to 288.3 

August Soybean Oil
Resistance should appear near 2758 to 2775 and 2820 to 2829 
Support should appear near 2724 to 2716 and 2673 to 2663 

Sept CBOT Wheat
Support should appear near  337 3/4 and the 327 to 326 1/4 region .. 
Below that a test of 321 1/4 to 319 1/2 is likely. 
Resistance  should appear near 342 1/2 to 344 1/4 and 349 1/4 to 350 1/4  

                                  The Satisfying Softs

September  Coffee
Support is near 7430 to 7415 and 7345 to 7325  
Resistance should appear near  7585 to 7605 and 7760 to 7780   

Sept Cocoa 
Support is at 1310 to 1304 and 1274 to 1268 
Resistance is at 1334 to 1346 and 1377 to 1383

October Sugar
Support should appear near  767 to 763 and 739 to 739
Resistance should appear near the  791 to 795 and 814 to 823 

December Cotton
Support should appear near  4995 to 4970 and the 4855 to 4845 region.  
Resistance should appear near 5055 to 5070 and 5125 to 5140 

 - 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
Thursday July 1st
7:10 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. 

Recommended Open BW  Positions
Short Sept Japanese Yen 9220
Short Sept EC 12172
Short 2  September Swiss Francs 7963 avg 
Short September Canadian Dollars 7327
Long 2  Sept SP500 1133.00 avg
Short August Unleaded Gas 12310 
Short 2 August Gold 391.7 avg 
Short August Cattle 8640 
Short 2  August Hogs 7627 avg 

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