Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Tuesday August 3rd,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

Monday August 2nd, 2004
1:45 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Resistance should appear near 9044 to 9060 and 9100
Support should appear near the 8964 to 8934 region

Sept Euro Currency (EC)
Support should appear at 11975 and 11920
Resistance is at 12102 and 12175..
BW Traders should go short if a close under 11917 occurs

Sept Swiss Franc
Resistance should appear near 7836 to 7864 and 7939 to 7954.
Support should appear near 7777 to 7763 and 7689 to 7675

Sept British Pound
Recommended open positions short at 18135
Support should appear near 18150 to 18080
Resistance should appear near 1.8220 and 1.8400

Sept Canadian Dollar
Recommended open position short at 7507
Support should appear near 7486, a slip under augurs for a test of the 7428 to 7414 region
Resistance is at 7550 and the 7587 to 7601 region

Sept Aussie Dollar
Recommended open position short at 6951
Support should appear near 7003 to 6990 and 6919 to 6906
Resistance should appear at the 7074 to7088 region

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10,185 and 10, 257
Support should appear near 10136 to 10120 and 10104

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1115.5.and the 1130.00 to 1136.00 region.
Support should appear near 1101.00 to 1096.00 and 1082.00

Nasdaq Composite
Support should appear near 1883 and the 1865 to 1858 region.
Resistance should appear near 1902 to 1909

Sept Mini Nasdaq 100
Resistance is at 1415.00 to 1421.00
Support should appear near the 1383.00 to 1377.00 region

Sept 10 Year T-Note
Resistance should appear near 111-07 and 111-22
Support is at 110-22 then 110-07 and 109-22

Precious Metals

December Gold
Recommended open position short at 389.7
Resistance should appear at 398.2 to 399.2
Support is at 392.9 to 390.9

Sept Copper
Support should appear near 130.40 and 127.40 to 126.80
Resistance should appear near 133.40 to 134.60 and 137.70 to 138.30

Sept Silver
Recommended open position short at 633
Support should appear 651 to 648.5, a slip under augurs for a test of 643 to 641.5
Resistance is at 665.5 to 667.5 and 674 to 675.5..Beyond that 690.5 to 692 should cap a rally

The Exciting Energies

Sept Crude Oil
Resistance should appear near 4425 to 4446 and 4503 to 4514
Support should appear near 4370 and 4310 to 4304

Sept Unleaded Gas
Recommended open position short 12435
Resistance should appear near 1.3040 to 1.3100 and 1.3340 to 1.3460
Support should appear near 1.2740 to 1.2680 and 1.2380 to 1.2320

Sept Heating Oil
Resistance should appear near 1.1690 and 1.1920 to 1.2030
Support should appear near 1.1500 and 1.1360 to 1.1300

The Lively Livestock
October Cattle
Support should appear near the 8777 to 8762.. below that a test of 8682 to 8667 is likely.
Resistance is at 8932 to 8967 then 9047 to 9062 and 9137 to 9157

October Hogs
Recommended open position Short 3 at 6752 avg
Resistance is at 7072 to 7087 and 7142 to 7172
Support is at 7002 to 6992 and 6922 to 6907

August Pork Bellies
Resistance should appear near 10317 to 13062 and 10472
Support is 10187 and the 10137 to 10102 region

Stay tuned for BW updates and Flashes

The Grande’ Grains

December Corn
Support should appear near 222 3/4 to 221 3/4
Resistance is at 231 1/2 to 232 1/4

November Soybeans
Support is at and the 565 1/4 to 564 and the 557 3/4 to 555 1/2 region ..
Resistance is at 571 3/4 to 572 3/4 and 579 1/4 to 580 1/2.. beyond that sellers should appear near
585 1/2 to 588 and cap a rally

December Soymeal
Support should appear near 173.8 to 173.1 and 169.6 to 168.9
Resistance should appear near 177.4 to 178.0 and 180.8 to 182.2

December Soybean Oil
Resistance should appear near 2126 to 2134 and 2170 to 2185
Support should appear near 2042 to 2034 and 1996 to 1982

Sept CBOT Wheat
Support should appear near 310 1/4 to 309 1/4 and the 304 1/2 to 303 3/4 region….BW Traders can buy at 304 3/4 for a bounce and risk a close under 291 3/4 for three days in a row..
Resistance should appear near 319 1/2 to 321 1/4.and 326 1/4 to 327

Stay tuned for BW Updates and Flashes

The Satisfying Softs

September Coffee
Recommended Open position long 2 at 7020 avg
Support should appear near 6590 to 6575 region and 6510 to 6485
Resistance should appear near 6655 to 6670 and 6740 to 6755

Sept Cocoa
Recommended open position Short at 1594
Support is at 1689 and 1655 to 1642
Resistance is at 1731 to 1738 .

October Sugar
Recommended Open Position Short at 811
Support should appear near 823 to 819 and 814
Resistance should appear near 847 to 852..Beyond that sellers should appear near 877 to 882..
BW Traders can sell at 876 and risk a close over 917 for three days in a row.

December Cotton
Support should appear near 4380 to 4370 and 4315 to 4305
Resistance should appear near 4505 to 4515 and 4570 to 4585

- 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 August 2nd, 2004
2:45 PM South Florida Beach Time

THIS PUBLICATION IS SUBJECT TO REVISIONS AND 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 BW Positions
Short Sept British Pounds 18135
Short Sept Canadian Dollars 7507
Short Sept Aussie Dollar 6951
Long 4 Sept SP500 1124.80 avg
Short Dec Gold 389.7
Short Sept Silver 633
Short Sept Unleaded Gas 12435
Short 3 October Hogs 6752 avg
Long 2 Sept Coffee 7020 avg
Short Sept Cocoa 1594
Short Oct Sugar 811

Terms