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FuturesCom Investment Publications
Morning Comments Thursday August 12th,2004
 Serving Professional and Individual Traders World Wide since 1988
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1-866-409-3890 -  Intl : 1- 561-433-2995  http://www.futurescom.com


                                                       
Wed August 11th, 2004
2:40 PM eastern time 


Open BW Positions

                            The Frenzied Forex Front

Sept Yen
Recommended open position Short at 8984
Resistance should appear near 9044 to 9060 and 9156 to 9140 
Support should appear near 8964 to 8934 and the 8871 to 8856 region.    

Sept Euro Currency (EC)
Support
should appear at 12175 and 12030 to 11975 
Resistance is at  the 12320 to 12380 region. Beyond that sellers  should appear near 12500

BW Traders should go short if a close under 12172 occurs

Sept Swiss Franc
Resistance
should appear near  7939 to 7954 and 8029 to 8044  
Support should appear near the 7864 to 7836 region

BW Traders should go short if a close under 7927 occurs,

Sept British Pound
Support
 should appear near 18150 to 18080.
Resistance should appear near 18400 and the 1.8580 to 1.8650 region. BW Traders can sell at 18570 and risk a close over 18680 for three days in a row. 

BW Traders should go short if a close under 18212 occurs.

Sept Canadian Dollar
Recommended open position Short at 7574
Support should appear near 7513 to 7486 and 7428 to 7414
Resistance is at 7586 to 7601 and 7675 to 7690.

Sept Aussie Dollar
Recommended Open Position Short at 7137
Support should appear near 7088 to 7074 and 7003 to 6990.
Resistance should appear at  7143 to 7170 .Beyond that sellers should appear near
 the 7242 to 7255  region.
BW Traders should go short if a close under 7072 occurs..

Trade accordingly and stay tuned for Flashes
 

                                       The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance
should appear near the 10021 to 10037 region 
Support should appear near 9921 and 9837 to 9821.

September SP500
Recommended open position Long at 1076.10
Resistance should appear near 1082.00 and 1096.00 to 1101.00 
Support
should appear near 1068.00 to 1063.00 and 1058.00 .. Below that buyers should appear near 
the 1036.00  to 1032.00 region.. BW  Traders can buy at 1036.30 and risk a close under 1030.90 for three days in row. 

Nasdaq Composite
Support
should appear near 1780 to 1774 and 1738 to 1731
Resistance should appear near 1808 to 1822 and 1858 to 1865 

Sept Mini Nasdaq 100
Resistance
is at 1334 to 1346 and 1377 to 1383
Support is at 1310 to 1304 and 1274 to 1268

Sept 10 Year T-Note
Resistance
should appear near 112-22 and 113-07
Support is at 112-07 then 111-22 and 111-07

Precious Metals

December  Gold
Recommended open position short at 397.9
Resistance
should appear at  398.2 to 399.2 and 404.6 to 405.6  BW Traders can sell at 404.5 and hold for lower prices.. Beyond that sellers should appear at 411.0 to 412.0
Support
is at 392.9 to 390.9 and 386.7 to 385.8

Sept Copper
Support
should appear near 12680 and 12380 to 12320    
Resistance
should appear near 13030 to 13100 and 13340 to 13460

Sept Silver
Recommended open position short at 654
Support
should appear 650.5 to 648  and 643 to 641.5
Resistance
is at 657 to 659.5 and 665.5 to 667.5   
.

                              The Exciting Energies
Oct Crude Oil
Resistance 
should appear near 4446 and 4503 to 4514.  Beyond that sellers should appear near 4571 to 4582 and should cap the rally. BW Traders can sell at 4501 and risk a close over 4591 for three days  in a row. 
Support
should appear near 4381 to 4370 and 4315 to 4304
BW Traders should go short if a close under 4302 occurs

Sept Unleaded  Gas
Re
sistance should appear near 12680 to 12740 and 13040 to 13100 .  
Support
should appear near 12380 to 12320 and 12030 to 11920 . 
BW Traders should go short if a close under 12310 occurs.

Sept Heating Oil
Re
sistance should appear near 11690 to 11640 and 11360to11320 .  
Support
should appear near 11805 and 11920 to 12030  . 

                                                The Lively Livestock

October Cattle
Recommended open position short at 8852 
Support
should appear near 8682 to 8667 and 8592 to 8562
Resistance
is at 8762 to 8777 and 8857 to 8872 

October Hogs
Recommended open position Short 2 at 7010 avg
Support is at 6672 to 6657 and the 6592 to 6577 region 
Resistance is at 6742 to 6757 and 6807 to 6837

February  Pork Bellies
Recommended open position short at 9490 
Resistance
should appear near the 9527 to 9542 and 9622 to 9642 .
Support  is 9347 to 9317 and 9237  

                                  The Grande’ Grains

December Corn
Recommended open position short at 231 3/4 
Support should appear near 227 1/2 to 226 1/4 
Resistance  is at 235 1/2 to 237 


November Beans
Recommended open position short at 554 1/2 
Support
is at 550 1/2 to 549 1/4 and the 543 to 541 3/4 region  
Resistance
is at 555 1/4 to 557 3/4 and 564 to 565 1/4 
BW Traders should go short if a close under 554 3/4 occurs.

December Soymeal
Support
should appear near 169.6 to 168.9 and 165.5 to 164.2 
Resistance should appear near 173.1 to 173.8 and 177.4 to 178.0 

December Soybean Oil
Resistance
should appear near 2126 to 2134 and 2170 to 2185
Support should appear near 2088 to 2080 ..Below that a test of 2042 to 2034 is likely…
BW Traders should go short if a close under 2077 occurs. 

Sept CBOT Wheat
Recommended open position long at 304 3/4 
Support should appear near 304 1/2 to 303 3/4 and 299 to 297 1/4
Resistance  should appear near  309 1/4 to 310 1/45 and 314 3/4 to 315 3/4 

 

                                    The Satisfying Softs

September  Coffee
Recommended Open Position Long at 6680
Support is near  the 6670 to 6655 region. and 6590 to 6575 
Resistance should appear near 6740 to 6755 and 6990 to 7005.  Beyond that a test of 7140 to 7170  is likely.  BW Traders should go long if a close over  6755 occurs

Sept Cocoa 

Support is at 1576 to 1569.
Resistance is at 1609 to 1615 .

October Sugar
Recommended Open Position Short at 806
Support should appear near  the 767 to 763 region. 
Resistance
should appear near 791 to 794 and 814 to 823

December Cotton
Support should appear near 4515 to 4505 and the 4445 to 4425 region.  Under that a test of 4380 to 4370
is likely. 

Resistance
should appear near 4580 and 4635 to 4650  beyond that sellers should appear near
4775 to 4785 and the 4915 to 4930 region.  .BW  Traders can sell at 4630 and risk a close over 4790 for three days in row..

 - 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
Wed August 11th   2004
3:40 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 Yen 8984
Short Sept Canadian Dollar 7574
Short Sept Aussie Dollar 7137 
Long Sept SP500 1076.20
Short Dec Gold 397.9
Short Sept Silver 654 
Short October Cattle 8852
Short 2 October Hogs 7010 avg
Short Feb Bellies 9490  
Short Dec Corn 231 3/4 
Short Nov Beans 554 1/2 
Long Sept Wheat 304 3/4
Long Sept Coffee 6680  
Short October Sugar 806


                                                                          Terms