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Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Wed, May 29th, 2002
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
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"Observation. experience , memory and mathematics--These are what a successful trader must depend on. He Must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions maybe about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities-- that is try to anticipate them. Years of practice at the game, of constant study, of always remembering, enables the trader to act when the unexpected happens as well as when the expected comes to pass. A man can have great mathematical ability and unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and memory " --Reminiscences of a stock Operator--

Tuesday May 28th 2002
3:45 PM e.s.t

The ‘Frenzied’ Forex Front

June Yen
Recommended open BW position , long at 8082
Support should appear near 8029 and 7991under that 7957 to 7939 should hold.
Resistance should appear near the 8044, an extended trade over is friendly and augurs for a test
of the 8119 to 8134 region.

June Euro Currency (EC)
Recommended open BW position , long at 9252
Support should appear at 9228 and 9156 to 9140 then 9101..Aggressive BW Traders can buy at 9102 and risk a close under 9039 for three days in a row.

Resistance is at 9316 to 9347. Which appears more likely to be tested than not..

June Swiss Franc
Recommended open BW position , long at 6377
Resistance should appear near 6382 and the 6417 to 6430 region.
Support should appear near 6337 then 6305 and 6270 to 6257

June British Pound
Support should appear near 1.4560 to 1.4530 .
Resistance is at 1.4590 and 1.4710, a close over is friendly and augurs for a test of the 1.4840 to 1.4960 regions. ...

BW Traders should go long id a close over 14714 occurs.

June Canadian Dollar
Support should appear at 6509 to 6483.
Resistance is at 6577 to 6591

June Aussie Dollar
Support is at 5577 to 5553 and 5504 to 5492
Resistance is at 5640 to 5653.. Above that 5716 to 5729 should Cap a sharp advance, BW traders can sell at 5714 and risk a close over 5809 for three days in a row.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10,021 to 10,037 and 10,104 to 10,136
Support should appear near 9937 to 9921 and the 9837 to 9821 region

June SP500
Resistance is at 1082 then 1089 and 1096 to 1098.5 and 1101 .
Support should appear near 1068 and the 1063 to 1058 region.. .

*Stay Tuned for BW Updates and additional trades during the trading sessions..

Nasdaq Composite
Resistance is at 1655 and 1672 then 1689 to 1697 and 1713.5.
Support should appear near 1642, a slip under augurs for a test of the 1615 to 1609 region.

June Mini Nasdaq 100
Nearby Resistance is at 1253 and 1268 to 1274 .
Nearby support is at the 1238 to 1232 region A close under is negative and augurs for a test of 1203 to 1192

Sept 10 Year T-Note
Resistance should appear near 104-23 and 105-09 which should cap a rally for a bit.. Beyond that sellers should appear near 105-23
Support is at 104-04 and 103-23 which should contain a decline for a bit… .

Precious Metals

August Gold
recommended open BW position , long at 323.1
Support should appear at 321.3 to 319.4 and 315.7 to 314.8.

Resistance is at the 326.1 to 327 region. Beyond that a test of the 331.9 to 332.8 region is likely..

July Copper
Recommended open BW position , short at 7320
Support should appear near the 7515 to 7485 and 7430 to 7415..

Resistance should appear near 7590 to 7605 and 7665 to 7685

July Silver
recommended open BW position , long at 478.0
Support should appear near 485.5 to 484 and 478.5 to 477.5

Resistance is at 491.5 to 492.5 beyond that a test of the 497.5 to 499 region is likely .. .

The Exciting Energies

July Crude Oil
recommended open BW position , long 2 at 2673
Support should appear near 2519 to 2511.. below that buyers should come out of the woodwork near the 2469 to 2461 region.
Resistance is at 2552 to 2568 , beyond that a test of 2612 to 2620 region is likely.

July Unleaded Gas
Recommended open BW position , long at 7965
Support should appear near 7585 and the 7345 to 7325 region.

Resistance is at 7665 to 7685 and 7760 to 7780 ..

July Heating Oil
Resistance is at 6485 to 6510 and the 6575 to 6590 region.

Support should appear near the 6355 to 6330 and the 6270 to 6255 region.

The Lively Livestock

June Live Cattle
Nearby Support should appear at 6272 to 6257 and 6232..

Resistance is at 6337 to 6352 and the 6417 to 6432 region.

June Hogs
Support is at 4517 to 4502
Resistance is at 4772 to 4787 .

July Pork Bellies
Support should appear at 5357 to 5342
Resistance is at 5637 to 5652 and 5717 to 5732 .

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains
July Soybeans
Recommended open BW position , long at 493
Resistance is at 499 1/2.. and the 503 1.2 to 506 3/4 region.

Support should appear at 492 3/4 to 491 1/2 under that buyers should appear near 485 3/4 to 484 1/2 ..

July Soybean Meal
Support should appear near 164.2 and 162.8 .

Resistance is at 165.5 a close over is friendly and augurs for a test of the 168.9 to 169.6 region

BW Traders should go long if a close over 165.7 occurs..

July Soybean Oil
Support is near 1794 and 1780 to 1774
Resistance should appear near 1858 to 1865.

July Corn
recommended open BW position , long at 208 3/4
Resistance should appear near 208 3/4 and the 212 3/4 to 214 1/2 region

Support is at 206 1/2 then 204 1/2 to 203 1/2 ..

July Wheat
Support should appear at 271 1/2 and 267 1/4 to 266 1/2. ..
Resistance is at 275 3/4 to 277 1/2.

                                                 The Satisfying Softs
July Cocoa
Resistance is at 1569 to 1576 and 1609 to 1615.

Support should appear near the 1535 to 1529 region. BW Traders can buy at 1537 and risk a close under 1479 for three days in row

BW Traders should go long if a close over 1617 occurs..

July Coffee
recommended open BW position , long at 5145
Support is near 5035 and 4995 to 4970.. BW Traders can buy at 5005 and risk a close under 4905 for three days in a row.

Resistance should appear near 5125 to 5140 and 5200 to 5210 ,

July Sugar
Support should appear near 562 to 558 and 534 and 523 Traders can buy at 536 and hold for higher prices..

Resistance should appear near 582 to 586. A close over 589 is friendly and augurs for a test of the 601 to 609 and the 630 to 634 region.

BW Traders should go long if a close over 591 occurs

July Cotton

Support should appear near 3795 and 3745 to 3735 .
Resistance is at the 3855 to 3865 region.. Beyond that a test of 3905 to 3930 is likely.

Trade Accordingly and stay tuned for updates..

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

Happy Trading and Have a Safe Memorial Day !
Bill
bill@futurescom.com
1--561-433-2995

Tuesday May 28th, 2002
4:05 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.