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 May 9th, 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

Thursday May 8th, 2003
5:00 PM eastern standard time

The ‘Frenzied’ Forex Front

June Yen
Support should appear near 8499 to 8484 and 8447

Resistance should appear near 8560 to 8589 and the 8668 to 8683 region , which should Cap a rally..
BW Traders can sell at 8662 and risk a close over 8717 for three days in a row.

June Euro Currency (EC)
Support should appear at 11430 and 11360 to 11330 and 11300

Resistance is at 11500 , beyond that a test of 11535 and 11570 is likely.

June Swiss Franc
Resistance should appear near 7675 to 7689

Support should appear near 7601 to 7587 .

June British Pound
Recommended Open Position Long 1.5968
Support should appear near 1.5960 then 15852 and 1.5760 to 1.5690

Resistance should appear near 1.6002 and 1.6090

June Canadian Dollar
Support should appear near 7143 and 7088 to 7074

Resistance is at 7170 and 7242 to 7255

June Aussie Dollar
Support is at 6350 to 6335 and 6270 to 6257

Resistance should appear near the 6417 to 6430 region

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8589 and 8668 to 8683.. Beyond that a test of 8762 to 8777 is likely. Above that sellers should appear near 8856 to 8871 and the 8934 to 8964 region.

Support should appear near 8484 an extended trade or close under augurs for a test of 8406 to 8391 and the 8314 to 8300 region…

June SP500
Recommended Open Position Short 2 at 925.90 avg
Resistance should appear near 923.60 then 931.60 to 934.70 and 942.90 to 944.50…Beyond that sellers should appear near 952.60 to 954.20 then 962.50 to 964.10 and the 970.60 to 973.70 region. Which should cap a rally. BW Traders Who Have Ice Water Running through their veins can sell at 961.30 and hold for lower prices…

Support should appear near 915.60 to 914.00. An extended trade or close under is negative and augurs for a test of 906.00 to 904.40..

Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime

Nasdaq Composite
Resistance 1496 then 1529 to 1535 and the 1569 to 1576 region.

Support should appear near 1484 then 1471 and the 1459 to 1453 region

June Mini Nasdaq 100
Resistance is at 1132 to 1136 then 1164 to 1169 and 1192 to 1203

Support is at the 1101 to 1096 region.

June Ten Year T-Notes
Resistance should appear near 116-23 and 117-04

Support is at 116-17 then 116-04 and 115-23.

The Precious Metals

June Gold
Recommended Open Position Long at 348.7
Support should appear at 344.3 to 342.5 and 338.6 to 337.6, which should hold.. BW Traders can buy at 338.9 for a bounce , risk a close under 331.5 for three days in a row. Below that buyers should appear near the 327.0 to 326.1 region.

Resistance is at 349.3 to 350.3 and the 355.3 to 356.3 region .

July Copper
Recommended Open Position short 7245
Support should appear near 7345 to 7325 and 7255 to 7240 ..

Resistance should appear near 7415 to 7425 and the 7485 to 7515 region

July Silver
Support should appear near 478.5 to 477.5 then 471.5 to 469.5 and the 465 to 463.5 region.. BW Traders can buy at 465.5 and hold for higher prices.. Risk a close under 457 for three days in a row.

Resistance is at 484.5 to 485.5 and the 491.5 to 492.5 region.. .. BW Traders should go long if
a close 486.5 occurs .

The Exciting Energies

June Crude Oil
Support should appear near 2672 to 2663 and 2620 to 2612

Resistance is at the 2716 to 2724 region. Beyond that sellers should appear near 2758 to 2775. and the 2820 to 2829 region. BW Traders can sell at 2757 and risk a close over 2832 for three days in row.

June Unleaded Gas
Recommended Open Position Short at 8115
Support should appear near 8045 to 8035 and 7955 to 7940

Resistance should appear near 8120 to 8135 and then 8195 to 8225 region.

June Heating Oil
Recommended Open Position Short 7135
Support should appear near 7065 and the 7005 to 6990 region.

Resistance should appear near 7145 to 7170 and the 7240 to 7255 region.

The Lively Livestock

June Live Cattle
Recommended Open Position Long 7257
Support should appear near 7257 to 7242.

Resistance is at 7322 to 7342

June Lean Hogs
Recommended Open Position Long at 6432
Support is at 6352 to 6337 and the 6272 to 6257 region..

Resistance is at 6432 and 6482 to 6507, a close over is friendly and augur
for a test of 6577 to 6592.. BW Traders should go long if a close over 6512 occurs..

July Pork Bellies
Support should appear near 9237 then 9157 to 9142 and the 9067 to 9042 region .

Resistance is at 9317 to 9347, a close over augurs for a test of 9427 to 9445 and the 9527 to 9542 region.. BW Traders should go long if a close over 9352 occurs

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains

July Soybeans
Recommended Open BW Position Long 2 at 625 3/4 avg
Resistance is at 625 1/4 to 627 and the 633 3/4 to 635 region A close over is friendly and augurs for a test of 641 3/4 to 643.

Nearby Support should appear near 619 to 616 1/2 and the 610 1/2 to 611 1/4 region. .
BW Traders should go long if a close over 635 ¾ occurs

July Soymeal
Recommended Open Position Long at 195.4
Support should appear near 190.9 to 190.2 and the 186.8 to 185.8 region ..

Resistance is at 194.6 to 195.3 and 198.2 to 199.6.
BW Traders should go long if a close over 199.7 occurs

July Soybean Oil
Resistance should appear near 2219 to 2226 and 2267 to 2275.
Support should appear near 2185 to 2170 and the 2134 to 2126 region.. BW Traders can buy at 2136 for a good bounce and risk a close under 2077 for three days in a row..

July Corn
Resistance should appear near 246 1/4 to 247 and 251 1/4 to 251 3/4

Support is at 241 3/4 to 241 1/4 and 237 to 235 1/2

July CBOT Wheat
Support should appear at 297 1/4 and 293 3/4 to 292 3/4

Resistance should appear near 303 3/4 to 304 1/2 and the 309 1/2 to 310 1/2 region. BW Traders can sell at 309 1/4 and risk a close over 317 for three days in a row.

The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open BW Position Long 2 at 6855
Support is near 6835 to 6810 and the 6755 to 6740 region. Below that 6675 to 6655 should hold. .

Resistance should appear near 6905 to 6920 and 6990 to 7005

July Cocoa
Support should appear near 1780 to 1774 and the 1738 to 1731 region.. .

Resistance should appear near 1808 to 1822 and 1858 to 1865

July Sugar
Recommended Open Position Long at 687
Support should appear near 661 to 656 and the 634 to 630 region

Resistance should appear near 671 then 682 to 686

July Cotton
Support should appear near 5210 to 5200 and the 5140 to 5125 region.

Resistance should appear near 5260 to 5285 and the 5345 to 5355 region

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

Happy Trading!
Bill
wil@futurescom.com
1-561-433-2995
Thursday May 8th, 2003
6:05 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.