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Morning Comments Wed Feb 16th, 2005
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Professional and Individual Traders World Wide since 1988
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Tuesday Feb 15th 2005
5:30 PM Eastern time
Resistance should appear near the 10960 to 11010 region
Support should appear near 10820 and 10757.. Below that 10680 to 10630 offers support.
March SP500
Resistance should appear near 1217.50 an extended trade over augurs for a test of 1232 to 1238.
Support should appear near the 1203.00 to 1196.00 ands 1192.00 BW Traders can buy at 1203.1 for a bounce and hold for higher prices .. Below that Buyers should appear near 1180.5 and the 1169.00 to 1164.00 region BW Traders can buy at 1180.5 and risk a close under 1171.90 for three days in a row..
Nasdaq Composite
Support should appear near 2088 to 2080
Resistance should appear near 2126 to 2134
March Mini Nasdaq 100
Resistance is at 1569 to 1576, beyond that a test of 1609 to 1615 is likely.
Support is at 1535 to 1529 and the 1496 to 1484 region.
March Mini Russell 2000
Recommended open position long at 635.5
Support is at 635 to 633.7 and 627 to 625.7
Resistance is at 641.7 to 643 and the 648.30 to 650.9 region.
Resistance should appear near 112-22 and 113-07, which should cap a rally..
Support is at 112-07 and 111-22., a close under augurs for a test of 111-07 and 110-22
The Frenzied Forex Front
March Yen
Resistance should appear near 9625 to 9641. Above that sellers should appear near 9706 to 9737..
BW Traders can sell at 9705 and hold for lower prices.
Support should appear near 9542 to 9526
March Euro Currency (EC)
Recommended open position Short at 13027
Support should appear at the 12740 to 12680 region..
Resistance should appear near 13030 to 13100.
BW Traders should go short if a close under 12890 occurs
March Swiss Franc
Recommended open position long at 8389
Resistance should appear near 8484 to 8499
Support should appear near 8406 to 8391
March British Pound
Support should appear near 18650 to 18580
Resistance should appear near 19020 to 19090
March Canadian Dollar
Recommended open position short at 8117
Support should appear near 8044 to 8029 and 7954 to 7939
Resistance is at 8134 and the 8194 to 8223 region ..
BW Traders should go short if a close under 8026 occurs.
March Aussie Dollar
Resistance should appear near 7864 and the 7939 to 7954 region
Support should appear at 7836 and 7777 to 7763 .
Precious Metals
April Gold
Resistance
BW Traders can sell at 436.9 and risk a close over 439.5 for three days in a row
Support is at 424.9 to 423.8 and 418.3 to 416.3
Aggressive BW Traders should go short if a close under 415.9 occurs..
Support
Resistance should appear near 14530 to 14590 and 14840 to 14960
BW Traders should go short if a close under 13740 occurs
May Silver
Support should appear near 734.5 to 732.5 and 717 to 714.0
Resistance
is at 748.5 to 751.5 776.5 to 777.5
The Exciting Energies
April Crude Oil
Resistance should appear near 4785 and 4845 to 4856.
Support should appear near 4717 to 4695, .a slip under augurs for a test of the 4650 to 4639 region.
March Unleaded Gas
Resistance should appear near 12680 to 12740 and 13040 to 13100
Support should appear near 12380 to 12320. A close under augurs for a test of 12030 to 11920
March Heating Oil
Resistance should appear 13040 to 13100
Support should appear near the 12740 to 12680 region.
The Lively Livestock
April Cattle
Support
Resistance is at 8762 to 8777 and 8857 to 8872
BW Traders should go short if a close under 8662 occurs
April Hogs
Support is should appear near 7242 and 7172 to 7142.
Resistance should appear near 7327 to 7342 and the 7417 to 7427 region.
BW Traders can sell at 7322 and risk a close over 7447 for three days in a row .
BW Traders should go short if a close under 7232 occurs
June Hogs
Support is at 7687 to 7672 and 7602 to 7587
Resistance should appear near 7762 to 7777 and the 7837 to 7862 region. Which should cap a rally..
March Pork Bellies
Resistance should appear near 8667 to 8682 and 8762 to 8777.. Beyond that sellers
should appear near 8857 to 8872
Support is at 8592 to 8562 then 8407 to 8392 and 8317 to 8302
The Grande’ Grains
May Soybeans
Recommended open position long 535 1/2
Support is 528 1./2 to 525 3/4 and 521 1/4 to 520.. Below that buyers should appear near
513 3/4 to 512 3/4 BW Traders can buy at 514 1/4 for a bounce and hold for higher prices.. ...
Resistance is at
541 3/4 to 543 and 549 1/2 to 550 1/2
May Soymeal
Recommended open position long 160.8
Support should appear near 161.5 to 160.9 and 157.6 to 156.9
Resistance should appear near 164.2 to 165.5 and 168.9 to 169.6.
May Soybean Oil
Recommended open position Long at 1997
Resistance should appear near 1984 to 1996 and 2034 to 2042
Support should appear near 1953 to 1946 and 1909 to 1902
BW Traders should go long if a close over 2044 occurs
May Corn
Support should appear 204 1/2 to 203 1/2 and 199 3/4 to 198 1/4
Resistance is at 208 to 208 3/4 and 212 3/4 to 213 1/2.
May CBOT Wheat
Recommended open position long 309 1/4
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 1/2 and the 314 3/4 to 315 3/4 region
The Satisfying Softs
March ‘The Monster’ Coffee
Support
Resistance should appear near 11300 to 11360 and 11640 to 11690
May Coffee
Recommended open position Long 4 at 11205 avg
Support is near 11690 to 11640 and 11500, below that buyers should appear near the
11360 to 11300 region. Under that buyers should appear near 11010 to 10960
Resistance should appear near 11920 to 12030 and the 12320 to 12380 region.. Beyond that a test of 12680 to 12740 is likely
May Cocoa
Recommended open position short at 1569
Support is at 1576 to 1569 and 1535 to 1529
Resistance is at 1609 to 1615 and 1642 to 1655
BW Traders should go short if a close under 1527 occurs..
May Sugar
Support should appear near and 941 to 932 and 912 to 907..
BW Traders can buy at 914 and risk a close under 905 for three days in a row.
Resistance should appear near 968 to 972 and 1000 to 1005
May Cotton
Recommended open position long at 4685
Support should appear near 4650 to 4635 then 4585 to 4570 and 4515 to 4505 ..BW Traders can buy at 4525 and risk a close under 4365 for three days in a row..
Resistance should appear near 4695 to 4715 then 4775 to 4785 and the 4845 to 4855 region.
- 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 Feb 15th 2005
6:50 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 – 2005 all rights reserved Terms
BW Recommended Open
Positions
Long March Mini Nasdaq 1535.5
Long March Mini Russell 635.5
Short March EC 13027
Short March Swiss Francs 8389
Short March Canadian Dollars 8117
Spread : Short 2 April Hogs 7255 / Long 2 July Hogs 7320
Long May Soybeans 535 1/2
Long May Soybean Meal 160.8
Long May Bean Oil 1997
Long May Wheat 309 1/4
Long 4 May Coffee 11205 avg
Short May Cocoa 1569
Long May Cotton 4685