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FuturesCom Investment Publications
Morning Comments Tuesday May 10th,  2005
 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--

Monday  May  9th,  2005
11:45  PM  Eastern time   
Open BW Positions   

                                       The Sensational Stock and Bond Markets  

Dow Jones Industrial Average
Resistance  should appear near 10470 , a close over is friendly and augurs for an eventual test of 10580 to 10680.. 
Support should appear near 10360 to 10320 and 10257  

June SP500
Recommended Open position Long 1180.60
Resistance should appear near 1180.5  and the 1192.00 to 1203.00 region
Support should appear near 1169.00 to 1164.00 and 1150.00

Nasdaq Composite
Support remains near 1953.00 to 1946.00 and the 1909.00 to 1902.00 region
Resistance should appear near 1982.00 to 1996.00. and the 2034.00 to 2042.00 region

June Mini Nasdaq 100
Resistance should appear near 1484.00 to 1496.00 and the 1529.00.to 1535.00 region.  
Support is at 1459 to 1453.00  and the 1421 to 1415 region.  .

June Mini Russell 2000
Support is at 595.70 to 594.50 and the 588.00 to 585.50  region.. Below that buyers should appear near the 580.50 to 579.20 region..
BW .Traders can buy at 580.6 and risk a close under 579.00 for three days in a row
Resistance should appear near 603.5, beyond that a test of the 610.10 to 611.30 region is likely

June 10 Year T-Note  
Resistance should appear near 111-07 then 111-22 and 112-07 .. Beyond that sellers should appear near
112-22 to 113-07 and cap a rally

Support  at  110-22  and 110-07. Below that a trade towards the 109-22 and 109-076  region is likely.  
Under that 108-22 should hold.

                                   The Frenzied Forex Front

June Yen
Resistance should appear near 9526 to 9542 and 9625 to 9641.  
Support should appear near 9445 to 9429.and  the 9347 to 9316 region..

June Euro Currency (EC)
Recommended open positions Short 12844
Support should appear at 12740 to 12680
Resistance should appear near 12890 and the 13040 to 13100 region
BW Traders should go short if a close under 12655 occurs

June Swiss Franc
Recommended open position short at 8276
Resistance should appear near 8391 to 8406 and the 8484 to 8499 region .
Support should appear near  8314 to 8300.. a slip under indicates a test of 8223 to 8194

June British Pound
Support should appear near 18650 to 18580
Resistance should appear near 19020 to 19090

June Canadian Dollar
Support should appear near 8044 to 8029 , a close under augurs for a test of 7959 to 7934
Resistance is at 8119 to 8134 and  8194 to 8223

June Aussie Dollar
Resistance should appear near 7763 to 7777 and  7836 to 7864
Support should appear at 7689 to 7675, below that a test of 7601 to 7587 is likely to occur   

                                                                       Precious Metals

June Gold  
Recommended open position short 427.7
Resistance should appear at  430.4 to 431.5 and 437 to 438.1
.BW  Traders can sell at 436.7 and risk a close over 440.4 for three days in a row.
Support is at 424.9 to 423.8, a close under augurs for a test of 418.3 to 416.3
BW Traders should go short if a close under 423.7 occurs

July Copper
Support should appear near 14210 to 14150 .. below that a test of 13830 to 13770 is likely..     
Resistance should appear near 14530 to 14590 and 15290 to 15350.
BW Traders can sell at 152.8 and risk a close over 157.9 for three days in row.

July Silver 
Support should appear near 700.5 to 699.0 and the 683.5 to 680.5 region.
Resistance is at 714.5 to 717.0  and 724.5 to 725.5.

                   
                                        The Exciting Energies

June Crude Oil
Resistance should appear near 5259 to 5282  and the 5344 to 5356 region .
Support should appear near 5139 to 5127 and 5067 to 5056

June Unleaded Gas 
Resistance should appear near 14960 and the 15290 to 15350 region  Beyond that sellers should appear near  15690 to 15760    
Support should appear near 14590 to 14530 and the 14210 to 14150 region.. Below that a test of 13830 to 13770 is likely. . 

June Heating Oil
Resistance should appear near 14530 to 14590 and 14840 to 14960 . Beyond that sellers should appear near 15290 to 15350
Support should appear near 14210 to 14150 and the 13830 to 13770 region.. Below that a test of 13460 to 13340 is likely..    Trade Accordingly

The Lively Livestock  

August  Cattle
Recommended open position short 8540
Support should appear near 8592 to 8562 and 8502 to 8482
Resistance is at near  8667 to 8682 and 8762 to 8777
BW Traders should go short if a close under 8377 occurs

June Hogs
Recommended open position Short 7757
Support is at 7512 to 7487 and  7427 to 7412
Resistance is at 7587 to 7602 and the 7672 to 7692 region.

July Hogs
Support is at  7512 to 7487 then 7432 to 7412 and  the 7342 to 7327 region
Resistance is at  the 7587 to 7602  then 7672 to 7692 and 7762 to 7777

October Hogs
Support is at 6417 and the 6352 to 6337 region. A close under augurs for a test  of  6272 to 6257
Resistance is at 6482 to 6512 and the 6577 to 6592  region.

July Pork Bellies
Recommended open position Short 8165
Resistance should appear near 8192 to 8222 and 8300 to 8317 .
Support is at  the 8137 to 8117 region.   A close under is negative and augurs for a test of  8047 to 8032   

Trade accordingly and stay tuned for flashes and updates

                                                        The Grande’ Grains
July Soybeans
Support is at 635 to 633 3/4, a close under augurs for a test of the  619 to 616 1/2 region.
Resistance should appear near 641 3/4  to 643 and 648 1/4 to 650 3/4 .

July Soymeal
Support should appear near 190.9 to 190.2 and 186.4 to 185.8
Resistance should appear near  198.2 to 199.6  and 203.4 to 204.2
BW   Traders should go short if a close under 190.1 occurs

July Soybean Oil
Resistance should appear near  2370  and  the  2411 to 2419 region.. Beyond that sellers should appear near 2461 to 2469 and the 2511 to 2519 region , which should  cap a rally. BW Traders can sell at 2459 and risk a close over 2527 for three days in a row
Support should appear near 2322 to 2315 then 2275 to 2267 and 2226 to 2219

July Corn
Support should appear near  the 204 1/4 to 203 1/2 region.
Resistance is at 208 to 208 3/4  .

July CBOT Wheat
Recommended open position short at 317 3/4
Resistance should appear near 314 3/4 to 315  3/4 and the 319 1/2 to 321 1/4 region .    
Support should appear near 310 1/4  to 309 1/4. A close under augurs for a test of 299 to 297 1/4    
Trade Accordingly –

                                                      The Satisfying Softs  

July 'The Monster' Coffee
Recommended open position long 2 at 12700 avg
Support  should appear near 12380 to 12320 region .. Below that buyers should appear near 12030 to 11920
Resistance should appear near 12680 to 12740 and the 13040 to 13100 region.

July Cocoa  
Support is at 1484 and 1459 to 1453 .  
Resistance is at the1529 to 1535  region

July Sugar
Support should appear near 823 to 814
Resistance should appear near  847 to 852 .  

July Cotton
Recommended open position long 2 at 5525 avg
Support should appear near 5430 to 5415 and 5355 to 5345.
Resistance should appear near 5555 to 5580 and  5715 to 5730 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 May 10th  2005
12:45 AM 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  June SP500 1180.6
Short June EC 12844
Short June Swiss Francs 8276
Short June Gold 427.7
Short August Cattle 8540
Short June Hogs 7757
Short July Pork Bellies 8165
Short July Wheat 317 ¾
Long 2 July Coffee 12700 avg
Long 2 July Cotton  5525 avg