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FuturesCom Investment Publications
Morning Comments Wed November 3rd 2004
 Serving Professional and Individual Traders World Wide since 1988
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Tuesday November 2nd,   2004
4:15 PM  Eastern time   

Open BW Positions

                                   The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near the 10104 to 10136 region. 
Support should appear near 10037 to 10021 and  9937 to 9921 

Dec SP500
Recommended open position long 2 at  1116.30
Resistance should appear near the 1136.00 region. Beyond that a test of 1150 is likely
Support should appear near 1115.50.  BW Traders can buy at 1115.70 for a good bounce  and stay tuned for a stop..Below that buyers should appear near the 1101.00 to 1096.00 region.


Nasdaq Composite
Support should appear near 1953 to 1946 and 1909 to 1902
Resistance should appear near 1996 and the 2034 to 2042 region..

Dec Mini Nasdaq 100
Recommended open position long at 1498.5
Resistance is at 1529 to 1535.
Support is at 1496 to 1484 and 1471.5

Dec Mini Russell 2000
Support is at  580.5 to 579.5 and 572.9 to 571.6
Resistance is at  585.5 to 588.5 and 594.5 to 595.7
BW Traders should go long if a close over 588.50 occurs

Dec 10 Year T-Note
Resistance should appear near 113-22 and 114-07 region
Support is at  113-07 and 112-22 and 112-07

                                 The Frenzied Forex Front
Dec Yen
Recommended open Position Short 2 at  9325 avg
Resistance should appear near 9445 and 9526 to 9542.
Support should appear near  the 9347 to 9318 region 

Dec Euro Currency (EC)
Recommended Open Position short 12672
Support should appear at  12680 and 12530
Resistance should appear near 12740 then 12815 and 12890.

Dec Swiss Franc
Recommended open Position Short 2 at  8287 avg
Resistance should appear near 8391 to 8406 and 8484 to 8499
Support should appear near 8300 and 8223 to 8194

Dec British Pound
Support should appear near 18220 to 18080.
Resistance should appear near the 1.8580 to 1.8650 region.

Dec Canadian Dollar
Support should appear near 8134 to 8119
Resistance is at 8194 to 8223 

Dec Aussie Dollar
Support should appear near 7428 to 7414 and 7255 to 7242
Resistance should appear at 7487 to 7513 and 7675 to 7689

Precious Metals

December Gold
Recommended open position Short 4 at 408.5 avg
Resistance should appear at 423.8 to 424.9 and 430.4 to 431.5 
Support is at 418.3 to 416.3 and 412 to 411

Dec Copper
Support should appear near 13100 to 13040 and 12740 to 12680.
Resistance should appear near 13340 to 13460 and the 13770 to 13830 region 

Dec Silver
Support should appear 683.5 to 681 and 673.5 to 665.5 
Resistance is at 714 to 717 and 732.to 734.5                                        

                              The Exciting Energies


Dec Crude Oil
Resistance should appear near 4973 to 4995 and 5056 to 5067  
Support should appear near 4926 to 4915 then 4856 to 4845 and the 4785 to 4775 region

December Unleaded Gas 
Resistance should appear near 13040 to 13100 and 13340 to 13460
Support should appear near 12740 to 12680 and 12380 to 12320   

Dec Heating Oil
Resistance should appear near 14150 to14210 and 14530 to 14590 
Support should appear near 13830 to 13770 and 13460 to 13340

 

  The Lively Livestock

December Cattle
 Recommended open position short at 8375
Support should appear near 8317 to 8302.Below that a test of 8137 to 8122 region is likely.
Resistance is at 8392 to 8407 and 8482 to 8502 .

February Cattle
Support should appear near 8667 then 8592 to 8567 and 8502 to 8482 
Resistance is at 8762 to 8777 and the 8857 to 8872 region..BW Traders can sell at 8757 and risk a close over 8972 for  three days in a row.

BW Traders should go short if a close under 8657 occurs.

December Hogs
Recommended open position short 2 at  6707 avg
Support is at 6922 to 6907 and 6837 to 6807 
Resistance is 6987 to 7002. Beyond that 7072 to 7087 should cap a rally
BW Traders should go short if a close under 6657 occurs.

February Hogs
Support is at 6922 to 6907 and 6837 to 6807
Resistance is at 7072 to 7087 and 7142 to 7172 
BW .Traders can sell at 7072 and risk a close over 7182 for three days in a row.

Recommended open spread position
Long 4 June Hogs 7037 /  Short 4 Dec Hogs 6957 avg

February Pork Bellies
Resistance should appear near 9822 to 9837 then 9922 to 9937 and 10022 to 10037 
BW Traders can sell at 9922 and hold for lower prices.  
Support is at 9737 to 9707 and 9642 to 9622 .. Below that a test of 9542 to 9527 is likely.
                             --Stay tuned for BW updates and Flashes in the Livestock complex –

                                  The Grande’ Grains

December Corn
Support should appear near 199 3/4 to 198 1/4 and 190 ¾ to 190 ¼.
Resistance is at 203 ½ to 204 ¼ and 208 to 208 ¾.. BW Traders can sell at 207 ¾ and risk a close over
218 ¾ for three days in a row.

January Soybeans
Recommended open position Short 522
Support is at 521 1/4  to 5200 and 513 3/4 to 512 3/4.
Resistance is at 525 3/4 to 528 1/2 then 534 1/2 to 536 3/4 and 541 3/4 to 543.
BW Traders can sell at 541 1/4 and risk a close over 551 3/4 for three days in a row…

December Soymeal
Recommended open position short 150.0
Support should appear near 149.6 to 148.4  Below that buyers should appear near 142.1 to 141.5
Resistance should appear near 152.9 to 153.0 and 156.9 to 157.6. 
BW  Traders can sell at 156.9 and risk a close over 166.7 for three days in a row.

December Soybean Oil
Recommended open position short at 2119
Resistance should appear near 2126 to 2134 and 2170 to 2185
Support should appear near 2088 to 2080 . A close under augurs for a test of 1996 to 1982 
December CBOT Wheat
Recommended open Position Long  306 1/4
Support should appear near 299 to 2971/4 and 293 3/4 to 292 3/4 
Resistance should appear near 303 3/4 to 304 1/2 and 309 1/4 to 310 1/4 

                         
                                   The Satisfying Softs
December Coffee 
Recommended open Position long at 7860
Support is near 7515 to 7485 and 7430 to 7415 
Resistance should appear near 7585 to 7605 and 7675 to 7690

December Cocoa 
Support is at 1453 and 1421 to 1415
Resistance is at 1471 and 1484 to 1496

March Sugar
Support should appear near 823 to 814 and  795 to 791
Resistance should appear near 852 and 877 to 882.  BW Traders can sell at 876 and risk a close over 917 for three days in row. 

December Cotton
Support should appear near 4445 to 4425 and 4380 to 4370 
Resistance should appear near 4570 to 4585 and 4635 to 4650

- 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

Tuesday November 2nd,  2004
4:45 PM Eastern 


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 2  Dec Yen 9325 avg
Short Dec EC 12672
Short 2  December Swiss Franc 8287
Long 2  Dec SP500 1116.30 avg
Long Dec Mini Nasdaq 1498.5
Short 4 Dec Gold 408.5 avg
Short 2  Dec Hogs 6707 avg
Short Dec Cattle 8375
Long 4 June Hogs/ Short 4 Dec Hogs  +80
Short Jan Beans 522
Short December Soymeal  150.0
Short December Soybean Oil 2119
Long Dec Wheat 306 1/4 
Long Dec Coffee 7860 

                                                                          Terms