FuturesCom Investment Publications Since 1989 Economic and Investment Trend Analysis Since 1979

Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Thursday January 2nd, 2003
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com

Courage in a Speculator is merely confidence to act on the decision of his mind

Wed January 1st, 2003
12:30 AM Eastern Standard Time

The ‘Frenzied’ Forex Front

March Yen
Support should appear near the 8406 to 8391..
Resistance should appear near the 8484 to 8499 region . BW Traders can sell at 8482 for a turn lower and risk a close over 8522 for three days in a row.

Aggressive BW Traders can go short if close under 8347 occurs…

March Euro Currency (EC)
Support should appear at 10415 and 10360 to 10320
Resistance is at 10470 and the1.0580 to 1.0630 region.
BW Traders should go long if a close over 1.0477 occurs..

March Swiss Franc
Recommended Open BW Position , Long 7223
Resistance should appear near 7255 , an extended trade over is friendly and augurs for a test of the 7328 to 7342 region.
Support should appear near 7206 then 7170 to 7143 and 7115 ..BW Traders can buy at 7118 for a bounce and hold for higher prices.

March British Pound
Support should appear near 1.5926 and 1.5858, below that buyers should appear near 1.5760 to 1.5690
Resistance should appear near the 1.6090 to 1.6150 region. A close over is friendly and augurs for a test of
1.6284

March Canadian Dollar
Recommended Open BW Position , Long 6354
Support should appear near 6305 and the 6270 to 6257 region
Resistance is at 6337 to 6350.

March Aussie Dollar
Support is at 5504 to 5492
Resistance is at the 5553 to 5577

The Sensational Stock and Bond Markets
timing of the holidays might have led some customers to increase their orders
in early December to cover their needs. That's because the holidays -- falling
as they did in the middle of the week -- disrupted the last two workweeks of
the month.

If the strength in the report was simply a matter of the timing of holidays,
there would be less reason to believe the manufacturing sector is undergoing
much of a recovery.

Separately, the number of Americans filing first-time applications for
unemployment benefits increased slightly last week, partially reversing the
prior week's 60,000-claim drop. Initial jobless claims rose by 13,000 to
403,000 in the week that ended Dec. 28, the Labor Department, in line with
expectations. A Labor Department spokesman said the agency still is
experiencing some volatility in the weekly data because of seasonal factors.

Dow Jones Industrial Average
Resistance should appear near 8352 and 8391 to 8406, beyond that sellers should appear near
8484 to 8499
Support should appear near 8314 to 8300 and the 8223 to 8194 region. Which should contain a
decline for a bit.

March SP500
Resistance is at 885.60 to 887.10. A close over is friendly and augurs for a test of 893.40 to 896.40

Support should appear near 877.70 to 876.20 and 868.30 to 866.80, a close under is negative and augurs for a test of 858.90 to 856.00

Nasdaq Composite
Nearby Resistance is at 1346 and 1361.5
Support should appear near 1334 A close under is negative and augurs for a test of the 1310 to 1304

March Mini Nasdaq 100
Resistance is at 992.00 to 993.55 then 1000 to 1005 and 1015.50.

Support is at the 983.55 to 982.00 region. Which should contain a decline however , a close under is negative and augurs for a test of 974.00 to 970.50

March Ten Year T-Notes
Resistance should appear near 115-07 and 115-23. Beyond that a test of 116-07 and 116-23 is likely to occur..
Support is at 114-23 and 114-07 .

The Precious Metals

Feb Gold
Support should appear at 344.3 to 342.5 and the 338.6 to 337.7 region.
Resistance is at 349.3 to 350.3, a close over augurs for a test of 355.3 to 356.3 and eventually the 361.3 to 362.3 region

BW Traders should go long if a close over 350.7 occurs

March Copper
Recommended Open BW Position , Short 7030
Support should appear near 7005 to 6990, a close under is negative and augurs for a test of 6920 to 6905 and eventually the 6835 to 6810 region.
Resistance should appear near 7075 to 7090 then 7145 to 7170 and the 7325 to 7345 region.
BW Traders can sell at 7315 and risk a close over 7440 for three days in a row.

March Silver
Recommended Open BW Position , Long 2 at 473.5 avg
Support should appear near 478.5 to 477.5 and 471.5 to 469.5 .
Resistance is at 484.5 to 485.5 and 491.5 to 492.5

                               The Exciting Energies
Feb Crude Oil
Recommended Open BW Position , Long 3213
Support should appear near 3102 to 3092
Resistance is at 3194 to 3213

Feb Unleaded Gas
Support should appear near 8685 to 8665 and the 8500 to 8485 region.
Resistance is at 8850 to 8870 and 8935 to 8965 .

Feb Heating Oil
Recommended Open BW Position , Long 8875
Resistance is at 8760 to 8775 and 8855 to 8870
Support should appear near 8590 to 8560 and 8410 to 8390

Feb Natural Gas
Resistance is at 4.915 to 4.926 and 4.971 to 4.995 ..
Support is at 4.786 to 4.775 and 4.717 to 4.695

The Lively Livestock

February Live Cattle
Recommended Open BW Position , short 7902
Resistance should appear near 8027 to 8047.
Support is at 7952 to 7937 .

February Lean Hogs
Recommended Open BW Position , short 5160
Support is at 5137 to 5127 and 5067 to 5037 and the 4997 to 4972 region, which should hold..
BW Traders can buy at 5002 for a turn higher and hold for higher prices.. Risk a close under 4907 for three days in a row.
Resistance is at 5197 to 5212 and 5257 ro 5282.

February Pork Bellies
Recommended Open BW Position Long 2 at 8730 avg
Support should appear at 8587 to 8557 and 8502 to 8482 .
Resistance is at 8667 to 8682 and 8762 to 8772

- Stay tuned for Livestock and Belly Updates -

The Grande’ Grains

March Soybeans
Recommended Open BW Position , Long 565 3/4
Resistance is at 571 3/4 to 573
Support should appear near 557 3/4 to 555 1/4

BW traders should go long if a close over 573 ¼ occurs..

March Soymeal
Support should appear near 165.5 to 164.2 and 161.5 to 160.9..
Resistance is at 168.9 to 169.6.
BW Traders should go long if a close over 169.9 occurs.

March Soybean Oil
Recommended Open Position , Long at 2138
Resistance should appear near 2134 and 2170 to 2185 ,
Support should appear near 2088 to 2080

March Corn
Resistance should appear near 237 and 241 1/4 to 242
Support should appear near 232 1/4 to 231 1/2

March Wheat
Recommended Open BW Position Long at 2 at 350 3/4
Support should appear at 321 1/4 to 319 1/4
Resistance is at 326 1/4 to 327

The Satisfying Softs
March Cocoa
Nearby Support is at the 1996 to 1982 region.. Below that 1909 to 1902 and the 1822 to 1808 region should contain a decline for a bit. BW Traders can buy at 1827 and risk a close under 1769 for three days in a row.
Resistance should appear near 2034 to 2042. BW Traders should go long if a close over 2047 occurs.

March Coffee
Support is near 6020.. Below that buyers should appear near 5880 to 5855 and contain a decline
BW Traders can buy at 5890 and risk a close under 5705 for three days in a row.

Resistance should appear near 6035 and 6105 to 6115 , beyond that a test of 6165 to 6190 is likely.
BW Traders should go long if a close over 6195 occurs

March Sugar
Recommended Open BW Position , Long 2 at 751 avg
Support should appear near 751 and 739 to 735...Below that 712 to 704 should hold.
Resistance should appear near 763 to 767 and the 791 to 795 region..

March Cotton
Recommended Open BW Position , Long 5140
Support should appear near the 4930 to 4915 region,   which should hold..
Resistance is at 5200 to 5215 and the 5345 to 5355 region. .. A close over is friendly and augurs for a test of 5550 to 5575

A Ship in Harbor is Safe.. But that is not what ships are built for –

Happy Trading!
Bill
wil@futurescom.com
1-561-433-2995

Wed, Jan 1st, 2003
1:50 AM , South Florida Beach Time

THIS PUBLICATION 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.