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, Friday January 3rd, 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

Friday January 3rd, 2003
1:30 AM Eastern Standard Time

The ‘Frenzied’ Forex Front

March Yen
Support should appear near the 8314 to 8300 a close under is negative and indicates a test of 8223 to 8195 and eventually the 8045 to 8025 region..
Resistance should appear near 8391 to 8406 a close over is friendly and augurs for a test of 8445.. Above that sellers should appear near the 8484 to 8499 region . 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 10320 then 10285 and 10225 BW Traders can buy at 10287 and hold for higher prices.. Below that buyers should appear near 10185 and the 10136 to 10104 region , which should contain a decline for a bit
Resistance is at 10360 and 10415, beyond that a test of 10470 and the1.0580 to 1.0630 region. is likely..
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 7143 to 7170 .
Support should appear near 7115 and 7088 to 7074
.BW Traders can buy at 7118 for a bounce and hold for higher prices.

March British Pound
Support should appear near 1.5858, below that buyers should appear near 1.5760 to 1.5690
Resistance should appear near the 1.5926 and the1.6090 to 1.6150 region.
1.6284

March Canadian Dollar
Recommended Open BW Position , Long 6354
Support should appear near 6350 to 6337 and 6305
Resistance is at 6383 and 6417 to 6430

March Aussie Dollar
Support is at 5577 to 5553 and 5504 to 5492
Resistance is at 5608 and 5640 to 5653

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8668 to 8683 and 8762 to 8777
Support should appear near 8589 to 8560.

March SP500
Resistance is at 914.00 to 915.60 and 923.60
Support should appear near 906.00 to 904.40

Nasdaq Composite
Nearby Resistance is at 1399 and 1415 to 1421
Support should appear near 1383 to 1377

March Mini Nasdaq 100
Resistance is at 1032 to 1036 and 1047.5 .
Support is at the 1015.5 and 1005 to 1000 ... 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 113-23 and 114-07
Support is at 113-07 and 112-23 .

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 7`70 to 7145.
Resistance should appear near 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 3194 and 3157 to 3148
Resistance is at 3213 and 3261 to 3270

Feb Unleaded Gas
Support should appear near 8775 to 8760 and 8685 to 8665 .
Resistance is at 8935 to 8965 and 9045 to 9060

Feb Heating Oil
Recommended Open BW Position , Long 8875
Resistance is at 9045 to 9060 and 9140 to 9155 and 9235
Support should appear near 8860 to 8855 and 8780 to 8765

Feb Natural Gas
Resistance is at 5.344 to 5.356 and 5.418 to 5.430.
Support is at 5.211 to 5.200 and 5.139 to 5.127

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 579 1/2 to 580 1/2 , beyond that sellers should appear near the 585 ½ to 588 region .. Above that a test of 610 ½ to 611 ½ is likely
Support should appear near 573 to 571 3/4

March Soymeal
Recommended Open BW Position , Long at 172.0
Support should appear near 169.6 to 168.9 .
Resistance is at 173.1 to 173.8

March Soybean Oil
Recommended Open Position , Long at 2138
Resistance should appear near 2170 to 2185 ,
Support should appear near 2134 to 2126 and 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
Resistance should appear at 331 3/4 to 332 3/4
Support is at 327 to 326 1/4

The Satisfying Softs
March Cocoa
Recommended Open BW Position , Long at 2099
Support is at the 2088 to 2080 region , below that 2042 to 2034 should hold.
Resistance should appear near 2126 to 2138 and 2170 to 2185

March Coffee
Support is near 6115 to 6100 and 6035 to 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 6190 and 6255 to 6270 . Beyond that sellers should appear near 6335 to 6350 , which should Cap a rally for a bit .. However a close over is friendly and augurs for a test of 6655 to 6675

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 767 to 763 and 751
Resistance should appear near the 791 to 795 region..

March Cotton
Recommended Open BW Position , Long 5140
Support should appear near the 5140 to 5125 and the 4995 to 4975 region .
Resistance is at 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

Friday Jan 3rd, 2003
2:30 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.