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

FuturesCom Investment Publications
Morning Comments, Tuesday December 3rd, 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

"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,December 2nd,2002
4:10 PM , Eastern

The ‘Frenzied’ Forex Front

December Yen
Recommended Open BW Position Short at 8031
Support should appear near 7992 and 7954 to 7939.. below that 7864 to 7836 should hold..
BWTraders can buy at 7867 and risk a close under 7755 for three days in a row.
Resistance should appear near 8044 and 8119 to 8134

December Euro Currency (EC)
Recommended Open BW Position Long at 2 at 9961 avg
Support should appear at 9937 to 9921 and 9879
Resistance is at 9979 an extended trade of close over augurs for a test of the 1.0021 to 1.0037 region.
Beyond that sellers should appear near 1.0071 and the 10104 to 10136 region

December Swiss Franc
Recommended Open BW Position Long 2 at 6822 avg
Resistance should appear near 6782 and the 6809 to 6836 region. Beyond that a test of the 6909 to 6919 region is likely to occur.
Support should appear near 6855 to 6741 and 6709.

December British Pound
Recommended Open BW Position Long at 15768
Support should appear near 1.5526 and the 1.5350 to 1.5290 region..
Resistance should appear near the 1.5612 and the 1.5690 to 1.5760 region. .

December Canadian Dollar
Support should appear near 6417 and 6383
Resistance is at 6430 and 6456..

December Aussie Dollar
Recommended Open BW Position Long at 5582
Support is at 5577 to 5553. Under that buyers should appear near 5504 to 5492
Resistance is at the 5640 to 5653 region .. A closer over is friendly and augurs fore a test of 5716 to 5729
BW Traders should go long if a close over 5657 occurs.

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Nearby Resistance should appear near 8934 to 8964 where sellers should appear attempt to Cap an early rally. However a close over is friendly and augurs for a test of the 9044 to 9060 region. Beyond that resistance is at 9140 to 9156
Support should appear near 8856 , a slip under augurs for a test of 8777 to 8762 and 8683 to 8668

December SP500
Recommended Open BW Position Short at 891.50
Resistance is at 938.80 and 942.80 to 944.50..Beyond that sellers should appear near 952.60 to 954.20and the 962.50 to 964.10 region.. beyond that sellers should appear near 970.60 to 973.70 and the 982.10 to 983.70 region and cap an advance for a bit..

Support should appear near 934.70 to 931.60 and 915..60 to 914.00 , a close under is negative and augurs for a test of 906.00 to 904.40 and the 896.40 to 893.40 region. Below that buyers should appear near 877.70 to 876.20

Nasdaq Composite
Resistance is at 1490 to 1496 then 1529 to 1535 and the 1569 to 1576 region ,which should cap a rally . Support should appear near 1459 to 1453 an slip under augurs for a test of 1421 to 1415 A close under is negative and augurs for a test of the 11383 to 1377 and the 1346 to 1334 region.

December Mini Nasdaq 100
Resistance is at 1130.00 to 1136.00 and 1164 to 1169, beyond that a test of 1192 to 1203 is likely., a close over is friendly and augurs for a test of 1232 to 1238 and the 1268 to 1274 region , which should cap a rally for a bit.
Support is at 1092 then 1068 to 1058, a close under is negative and augurs for a test of 1036 to 1032 and the 1005 to 1000 region. Which should contain a decline

March Ten Year T-Notes
Resistance should appear near 111-07 and 111-23 which should cap a rally for a bit..
Support is at 110-23.. A close under is negative and augurs for a test of 110-04 and 109-23

Precious Metals

Feb Gold
Recommended Open BW Position Long at 319.1
Support should appear at the 315.7 to 314.8 region. Below that 310.2 to 309.2 should
contain a decline.
Resistance is at 319.4 to 321.3 and the 326.1 to 327.0 region..

March Copper
Support should appear near 7515 to 7485 and 7345 to 7325,
Resistance should appear near 7665 to 7690 and 7760 to 7780.

March Silver
Recommended Open BW Position Long at 4.53
Support should appear near 442.5 below that buyers should appear near 438.5 to 437.0
Resistance is at 450.5 to 451.5 , a close over augurs for a test of 457.0 to 458.5.

The Exciting Energies
January Crude Oil
Support should appear near 2724 to 2712 and 2672 to 2663.. under that 2620 to 2612 should hold..
BW Traders can buy at 2647 and hold for higher prices,..
Resistance is at 2758 to 2775 . A close over is friendly and augurs for a test of 2820 to 2829. Beyond that sellers should appear near 2874 to 2883

Aggressive BW Traders can go long if a close over 2727 occurs..

January Unleaded Gas
Support should appear near 7345 to 7325 and 7170 to 7140.
Resistance is at 7485 to 7515 and the 7665 to 7690 region.

January Heating Oil
Resistance is at 7765 to 7770, a close over is friendly and augurs for a test of 7835 to 7865 and the 7940 to 7955 region..
Support should appear near 7605 to 7585 then 7515 to 7485 and 7430 to 7415.

January Natural Gas
Resistance is at 4.370 to 4.385 and 4.425 to 4.446
Support is at 4.315 to 4.305 and 4.249 to 4.238

The Lively Livestock
December Live Cattle
Recommended open BW position Short at 7482
Resistance should appear near 7512 and 7587 to 7602.
Support is at 7482 and 7432 to 7412

February Live Cattle
Resistance should appear near 7937 to 7957.. Beyond that sellers should appear near 8027 to 8047. .
Support is at 7862 to 7832 , a close under is negative and augurs for a test of 7777 to 7762.

December Hogs
Recommended Open BW Position, short at 2 at 4342 avg
Support is at 4517 to 4502 below that buyers should appear near 4447 to 4432..
Resistance is at 4572 to 4582 and the 4637 to 4652 .

Stay tuned for updates

February Hogs
Recommended Open BW Position, short at 5492
Support is at 5427 to 5417 and 5357 to 5342.
Resistance is at the 5492 to 5507 and 5552 to 5577

February Pork Bellies
Support should appear at 8502 to 8482 and the 8407 to 8392 region.. Below that buyers should appear near 8317 to 8202. BW Traders can buy at 8317 and hold for higher prices

Resistance is at 8562 to 8592 and 8667 to 8682 A close over is friendly and augurs for a test of 8762 to 8777 and the 8932 to 8967 region. Which should Cap a rally for a bit..
Aggressive BW traders should go long if a close over 8692 occurs..

-Stay tuned for Livestock and Belly Updates and Flashes-

The Grande’ Grains

Jan Soybeans
Resistance is at 579 1/2 to 580 1/2, beyond that sellers should appear near the 585 1/2 to 588 region .
Support should appear near the 573 to 571 3/4 region. Below that 565 1/4 to 563 should contain a decline. BW Traders can buy at 565 3/4 and risk a close under 554 3/4 for three days in a row..

BW Traders should go long if a close over 581 1/4 occurs..

January Soymeal
Recommended Open BW Position, Long 171.4
Support should appear near 169.6 to 168.9 and 165.5 to 164.2
Resistance is at 173.1 to 173.8.. Beyond that sellers should appear near the 177.4 to 178.0 region

January Soybean Oil
Recommended Open BW Position, Long 2267
Resistance is near the 2267 to 2275
Support should appear near 2226 to 2219. Below that support is at 2185 to 2170.

March Corn
Resistance should appear near 246 1/4 to 247.
Support is at 241 1/4 .and the 237 to 235 1/2 region

March Wheat
Recommended Open BW Position, Long 2 at 383
Support should appear at and the 374 1/2to 373 3/4 region.. below that buyers should appear near 368 1/4 to 366 3/4.
Resistance is at 379 1/2 to 380 3/4
BW Traders should go long if a close over 393 ¼ occurs.

The Satisfying Softs

March Cocoa
Recommended Open BW Position, Long 2 at 1753
Support is at 1738 to 1731 and 1696 to 1689
Nearby Resistance should appear near 1774 to 1780 , a close over is friendly and augurs for a test of the 1808 to 1822 region. .

March Coffee
Recommended Open BW Position, Long 2 at 7260 avg
Support is near 7170 to 7140 and 7005 to 6990 Below that buyers should appear near 6835 to 6805 and the 6755 to 6740 region . BW Traders can buy at 6755 for a bounce and risk a close under 6645 for three days in a row
Resistance should appear near 7325 to 7345 which should Cap a rally for a bit .. However a close over is friendly and augurs for a test of 7485 to 7515 and the 7760 to 7775 region..

March Sugar
Recommended Open BW Position, Long 730
Support should appear near 763 and the 739 to 735 region.

Resistance should appear near 791 to 795 Beyond that sellers should appear near 814 to 823.

March Cotton
Support should appear near 4972 and the 4930 to 4915 region.. Below that buyers should appear near 4855 to 4845 and the 4785 to 4775 region.. BW Traders can buy at 4935 and risk a close under 4835 for three days in a row.

Resistance is at 5035 to 5065 and the 5125 to 5140 region.. A close over is friendly and augurs for a test of 5200 to 5215 and the 5345 to 5355 region. .

BW Traders should go long if a close over 5075 occurs.

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

Monday, December 2nd, 2002
5:00 PM , 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.