Precious Metals - Energy - Livestock - Grains - Softs
FuturesCom Investment Publications
Morning Comments, Thursday Feb 21st, 2002
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
Description of Services Premier Service
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--
Wed Feb 20th , 2001
3:45 PM Eastern Standard Time
The Frenzied Forex Front
March Yen
Recommended open BW Position Long at 7554
Support should appear near 7486 and 7458.. Under that 7428 to 7414 should hold.
Resistance should appear near 7513 then 7552 and 7587 to 7601
March Euro Currency (EC)
Support should appear near 8683 to 8668 and 8628.. Day Traders can buy at 8676 and risk 30 pts.
Resistance is at 8723 and 8762 to 8777, a close over 8777 is friendly and augurs for a test of 8816 and the 8856 to 8871 region. BW traders should go long if a close over 8777 occurs.
Resistance should appear near 5912 and 5945 to 5957.
Support should appear near the 5880 to 5855 region.. a close under 5855 is negative and augurs for a test of 5805 to 5795 BW Traders should go short if a close under 5854 occurs..
March British Pound
Support should appear near 1.4210 to 1.4150
Resistance is at 1.4272 and 1.4322
March Canadian Dollar
Support should appear at 6271 to 6256 and 6227
Resistance is at 6305 , a close over 6305 is friendly and augurs for a test of the 6337 to 6350 region
March Aussie Dollar
Support is at 5139 to 5127 and 5098..
Resistance should appear near the 5200 to 5211 region
The Sensational Stocks and Bonds
Dow Jones Industrial Average
Resistance should appear near 10,021 to 10,037 and the 10,104 to 10,136 region..
Support should appear near the 9937 to 9921 and 9879.
March SP500
Resistance should appear near 1101 and 1108.70 then 1115.50..Beyond that selling should appear near 1130 to 1136 ..Day Traders can sell at 1115.50 and hold for lower prices.. Stay tuned for Updates
Nasdaq Composite
Resistance is at 1780 and 1808 to 1822
Support is at 1756 and 1738 to 1731.
Pick Your Poison…
Nearby Resistance is at 1415 to 1421 and 1453 to 1459.
Nearby support is at 1383 to 1377 and 1346 to 1334
March 10 Year T-Note
Resistance should appear near 107-07 and the 107-21 to 107-23 region. Beyond that a test of 108-04 is likely.
Support is at 106-23 then 106-12 to 106-07
Precious Metals
April Gold
Recommended Open BW Position Long at 293.8
Support should appear near 288.3 to 287.4
Resistance is at 292.8 to 293.7
March Copper
Recommended Open BW Position Long at 7515
Support should appear near the 7080 to 7070 and the 7005 to 6990, region. Below that a test of 6920 to 6910 is likely. Aggressive BW traders can buy at 6925 and hold for higher prices..
Resistance should appear near 7140 to 7170 and 7255 to 7270
March Silver
Recommended Open BW Position Long at 453
Support should appear near 438 to 437.5
Resistance is at 442.5 to 444.5 and 450 to 451.5
The Exciting Energies
April Crude Oil
Support should appear near 2034 and the 1996 to 1982 region.
Resistance is at 2080 to 2088 and 2126 to 2134
March Unleaded Gas
Support should appear near 5725 to 5715 and the 5580 to 5555 region.
Resistance is at 5790 to 5805 and the 5855 to 5880 region. .
March Heating Oil
Resistance is at 5345 to 5355 and 5415 to 5430
Support should appear near 5285 to 5255 and 5210 to 5200.
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The Lively Livestock
April Live Cattle
Support should appear near 7512 to 7487 and 7427 to 7412.
Resistance is at 7587 to 7602 and 7637
April Hogs
Nearby Support is at 5957 to 5942 and 5882 to 5857 then 5807 to 5792 , which should contain a decline..
BWTraders can buy at 5807 and risk a close under 5712 for three days in a row.
Resistance is at 6022 to 6037 and 6067 Day Traders can sell at 6062 and risk 75 pts...
June Hogs
Support is at 6592 to 6577 and the 6512 to 6482 region .
Resistance is at 6672 and 6742 to 6757..
March Pork Bellies
Recommended Open Position Short at 7762
Support should appear at 7687 to 7672 and 7602 to 7587 then 7512 to 7487.
Resistance should appear near 7762 to 7777. Above that resistance should appear near 7832 to 7867 and the 7937 to 7957 region.
-Stay tuned for Livestock and Belly Updates and Flashes-
The Grande' Grains
March Soybeans
Resistance is at 450 to 451 1/2 .
Support should appear near 444 1/4 to 442 1/2 and 438 1/2 to 437
Day Traders can buy at 440 1/2 and risk 5 cents ....
March Soybean Meal
Recommended Open BW Position Long at 149.8
Support should appear near 149.6 to 148.4 and 145.9 to 145.3..BW Traders can buy at 145.9 for a bounce
and risk a close under 145.3 for three days in a row.
Resistance is at 152.9 to 153.5.
March Soybean Oil
Support is near 1592 then1576 to 1568 and 1552.
Resistance is at the 1609 to 1615 region.
March Corn
Resistance should appear near 208 to 208 3/4
Support is at the 204 1/4 to 203 1/2 region
BW Traders should go, long if a close over 208 3/4 occurs..
March Wheat
Nearby Support should appear near 277 1/2 to 275 3/4 and 272 1/2 to 271 3/4
Resistance is at 282 to 282 3/4
Aggressive BW Traders should go long if a close over 282 3/4 occurs.
The Satisfying Softs
May Cotton
Stopped out of the long on the close cotton has gone back to it's sloppy action
Support should appear near the 3495 to 3505 region.. Under that buyers should appear near 3445 to 3425.. .
Resistance is at 3610 to 3625 and 3665 to 3685.
May Coffee
Recommended Open BW Position: Long 4655
Support is near 4855 to 4845 and 4785 to 4775 , under that buyers should appear enar 4650 to 4635 and 4580 to 4570
Resistance should appear near 4915 to 4925 and the 4970 to 4995 region. Beyond that sellers should appear near 5035 to 5065 and the 5200 to 5210 region.
May Sugar
Support should appear near 562 to 559 and the 539 to 534 region.
Resistance should appear near 582 to 586, a close over augurs for a test of 601 to 609
BW Traders should go long if a close over 586 occurs.
May Cocoa
Recommended Open position Long at 1405
Resistance is at 1415 to 1421 and 1453 to 1459..
Support should appear near 1383 to 1377 and the 1346 to 1334 region.. BW Traders can buy at 1386 and risk a close under 1333 for three days in a row..Under that 1310 to 1304 should contain a decline..
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A Ship in Harbor is Safe.. But that is not what ships are built for --
Happy Trading !
Bill
bill@futurescom.com
1--561-433-2995
Wed February 20th 2002
4:10 PM
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.
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FuturesCom Investment Publications Copyright@1996-2002 all rights reserved
Premier Service
Final' 2001 Year End Totals as of 2-19-2002 http://www.futurescom.com/premper01.htm
Recommended Open Positions as of 2-20-2002
Long 10 March EC 8735
Short 10 March SP500 1088.50
Short 5 March Pork Bellies 7680
Long 20 July Beans 447 1/4 avg.
Long 20 May Wheat 284 avg
Index Program
Final '2001 'Year End Totals as of 2-19-2002 http://www.futurescom.com/index01.htm
Recommended Open Position as of 2-20-2002
Short 2 March SP500 1088.50