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FuturesCom Investment Publications
Morning Comments Monday February 2nd, 2004
 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 justifiedin taking - chances that he must take if he wishes to be more than a mercantile mollusk--"
- Reminiscences of a Stock operator -

Saturday January 31st , 2004
7:40 AM eastern time

 The Frenzied Forex Front

March Yen
 Recommended Open position short 9427
Support should appear near 9445 to 9429.  
Resistance should appear near 9526 to 9543 region.. 
BW Traders should go short if a close under 9389 occurs

March Euro Currency (EC)
Support should appear at 1.2380 to 1.2320.
Resistance is at the 12530 and 12680 to 12740 region.
BW  Traders can sell at 12672 and risk  a close over 12770  for three days in a row..

March Swiss Franc
Resistance should appear near 8029 to 8044 
Support should appear near 7954 to 7939

March British Pound
Support should appear near 1.8150 to180.80 
Resistance should appear 18220 and 1.8400

March Canadian Dollar
Support should appear near 7513 to 7486
Resistance is at 7587 to 7601  

March Aussie Dollar
Support should appear near 7513 to 7486.
Resistance should appear at 7601and the 7675 to 7689 region

   The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 10580 to 10630 and 10680.
Support should appear near 10470 and 10360 to 10320

March SP500
 Recommended open position long 2 at 1149.10 avg
Resistance should appear near the 1130 to  1136 region
Support should appear near 1115.50 and the 1101 to 1096 region
BW Traders can buy at 1101.30 for a bounce and risk a close under 1094.70 for three days in a row.
Under that  buyers should appear near the 1068 to 1058 region which should hold
Nasdaq Composite
Resistance  should appear near 2080 to 2089.
Support should appear near 2042 to 2034

March  Mini Nasdaq 100
 Recommended Open Position long 1553.5 
Resistance is at 1529.00 to 1535.00 .
Support is at 1484.00 and 1459 to 1453

March 10 Year T-Note
Resistance should appear near 113-22 and 114-07
Support is at 113-08 and 112-22

Precious Metals

April Gold
Support should appear at 399.2 to 398.2 a slip under augurs for a test of 392.9 to 390.9
Resistance is at 404.6 to 405.6 and 411 to 412 

March Copper
 Recommended Open Position Long at 1.1455
Support should appear near 1.1360 to 1.1300 and 1.1010  to 1.0960
Resistance should appear near 1.1640 to 1.1690 and 1.1920 to 1.2030

March Silver
Support should appear and 619 to 616.5, a close under augurs for a test of  611.5 to 610
and the 603.5 to 602.5 region.. BW  Traders can buy at 604.5 for a good bounce and  hold for higher prices ,  risking  a close under 584 for three days in a row.. Below that buyers should appear near 596 to 594.5
Resistance is at 625.5 to 627 and 633.5 to 637  

Trade Accordingly

                                                The Exciting Energies

March Crude Oil
Support should appear near  the 3270 to 3261 region .Below that a test of the 3213 to 3190 region is likely. 
Resistance is at  3319 to 3328 and 3377 to 3386 

March Unleaded  Gas
Resistance should appear near 9705 to 9735 and 9820 to 9835
Support should appear near 9540 to 9525 and  the 9345 to 9315 region.. 

March Heating Oil  
Resistance should appear near 9315 to 9345 and 9425 to 9445.
Support should appear near 9155 to 9140,  below that a test of 9060 to 9045 is likely

 

The Lively Livestock

April Cattle
Support should appear near 7257 to 7242. 
Resistance is at 7342 and 7412 to 7427

April Hogs
 Recommended Open Position Short at 5852
Support is at 5882 to 5857 and 5807 to 5792.
Resistance is at the 5942 to 5957 and 6022 to 6037.. Beyond that sellers should appear near 
the 6102 to 6112 region and cap a rally.. 

BW Traders should cancel recommendations in Feb Belles, March will be covered from now on. 

March Pork Bellies
Support should appear near 8587 to 8562 and 8502 to 8487. 
Resistance is at 8667 to 8682.. beyond that sellers should cap a rally near the 8762 to 8777 region. 
 

   The Grande’ Grains

March Soybeans
Resistance is at 819 1/2 to 822 1/4 and 830 to 831 1/2
Support should appear at 8131/2 to 811 3/4 and  804 1/2 to 802 3/4  

March Soymeal
Support should appear near 251.9 to 251.1 , a slip under augurs for a test of 246.9 to 246.1
Resistance should appear near 256.8 and 261.2 to 262.0

March Soybean Oil
Resistance should appear near  2928 to 2937 and 2972 to 2990
Support should appear near 2883 to 2874 

March Corn
Resistance should appear near 277 1/2 and 282 to 282 3/4 
Support is at 275 3/4 and 272 1/2 to 271 1/4  

March CBOT Wheat
Support should appear near 386 3/4 to 385 3/4.
Resistance  should appear near 390 3/4 to 392 3/4 and 398 1/4 to 399 1/4 

Trade Accordingly and Stay tuned for updates

                                         The Satisfying Softs

March the ‘Monster’ Coffee
Recommended open position long at 2 at  7545 avg
Support is near 7515 to 7485  then 7430 to 7414 and 7345 to 7325. Below that support should surface near 7255 to 7240 and the 7170 to 7145 region...BW Traders can buy at 7175 and hold for higher prices.. risk a close under 6970 for  three days in a row.. .
Resistance should appear near 7585 to 7605 and 7675 to 7690beyond that a test of 7760 to 7775 is likely.   

March Cocoa 
Support is at 1496 to 1484 and the 1459 to 1453 region 
Resistance should appear near 1529 to 1535 and 1569 to 1576

March Sugar
Support should appear near 582 and 562 to 588 
Resistance should appear near  601 to 609

March Cotton
Support should appear near 7085 and 7140 to 7170. 
Resistance should appear near 7005 to 6990 and 6905 to 6920  

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

Stay tuned for flashes and updates in all markets.. 

Happy Trading!  

Bill  wil@futurescom.com

1-866-409-3890

Saturday January 31st 
9:00 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. 
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