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Morning Comments,
Friday February 20th, 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
Thursday February 19th, 2004
5:00 PM eastern time
The
Frenzied Forex Front
March Yen
Resistance should appear near 9391 and 9429 to 9445.
Support should appear near 9344 to 9316, an extended trade under augurs
for a test of 9237 and eventually
the 9156 to 9140 region..
March Euro Currency (EC)
Recommended open position Short at 12709
Support should appear at 12680 and 12530
Resistance is at 12740 to 12755 and 12890..Above that sellers should appear near 1.3040 to
1.3100.. Beyond that 1.3340 to 1.3360 and the 1.3770 to 1.3830 should cap
rallies …BW Traders can sell at 1.3332 and risk a close over 13490 for three
days in a row..
March Swiss
Franc
Recommended open position Short at 8056
Resistance should appear near 8119
to 8134 and 8194 to 8223
Support should appear near
8044 to 8029 and the 7954 to 7939
March British Pound
Support should appear near 1.8650 to 1.8580
Resistance should appear near 1.9020 to 1.9090
March Canadian Dollar
Support should appear near 7513
to 7486.. below that a trade to 7428 to 7414 is more likely than
not..
Resistance is at 7550
and 7587 to 7601.
March Aussie Dollar
Support
should appear near 7864 to 7836 and the 7777 to 7763 region.
Resistance should appear
near 7939 to 7954
Trade Accordingly and stay tuned for Updates..
The
Sensational Stock and Bond Markets
Dow Jones
Industrial Average
Resistance should appear
near 10680.00 and 10820.00
Support should appear near 10630.00 and 10580.00
March SP500
Recommended open position Long at 2 at 1154.40 avg
Resistance
should appear near 1150 and the 1164.00 to 1169.00 region.
Support should appear near 1136.00 to 1130.00. BW Traders can buy at 1136.20 and hold for higher prices.. Below that support
should appear near 1115.50 and the 1101 to 1096 region.BW Traders can buy at
1101.30 and risk a close under 1095.30 for three days in a row.
BW Traders should go long if a close over 1169.70 occurs..
Trade accordingly and Stay tuned for updates and flashes …
Nasdaq Composite
Resistance should appear near
2080 to 2089
Support should appear near 2042 to 2034 and 1996 to 1982
March Mini
Nasdaq 100
Resistance is at 1529 to 1535
Support is at 1484 and the 1459 to 1453 region.
BW Traders can buy at 1472 and risk
a close under 1449 for three days in a row.
March 10 Year T-Note
Resistance should
appear near 115-07 and 115-22.
Support is at 114-22 and 114-07.
Precious Metals
April Gold
Support should appear at the 405.6 to 404.6
region
Resistance is at 411 to 412 and 416.3 to 418.3
BW Traders should go short if a close under 401.8 occurs..
March Copper
Support
should appear near 131.00 to 130.40 and 127.40 to 127.60
Resistance should appear near 133.40 to 134.60 and
137.70 to 138.30
March Silver
Support
should appear 667.5 to 665.5 and 651 to 648.5.
Resistance should appear near 680.5 to 683.5 and 690.5 to 692
--Stay tuned for updates—
The Exciting Energies
April
Crude Oil
Support
should appear near 3443 to
3425 and 3386 to
3377
Resistance is at the 3493 to
3503 and 3553 to 3563
April Unleaded
Gas
Resistance should appear
near 1.1300 to 1.1360 and 1.1640 to 1.1690
Support should appear near 1.0960 and
10680 to 10580
April Heating Oil
Resistance should appear near 9045 to
9060 then 9140 to
9155 and 9315 to 9345
Support should
appear near 8870 to 8855 and 8590 to 8560
Trade Accordingly…
The Lively Livestock
April Cattle
Support should appear near 7257 to 7242 and 7172 to 7142
Resistance is at 7327 to 7342 and 7417 to 7427
April
Hogs
Recommended open position Short at 5880
Support is at 5957 to 5942 and 5882 to 5852
Resistance is at 6022 to 6037 and 6102 to 6112
Recommended open position. July /April Hog Spread
Long July 6215
Short April 6125
March Pork Bellies
Support should appear near 9447 to 9442
and 9347 to 9317
Resistance is at 9627 to 9642
...Beyond that sellers should appear near 9707 to 9737 ..Traders can sell at
9702 and hold for lower prices.. Beyond that resistance is at
9822 to 9837...
The Grande’ Grains
March Soybeans
Resistance
is at 904 1/2 to 906 and the 914 to 915 3/4 region.
Support should appear at 877 3/4 to 876
1/4 and 858 3/4 to 856 3/4
March
Soymeal
Support should appear near 266.3 then 262 to 261.2 below that 256.8 to 255.2
should hold
Resistance should appear near 271.6 to 272 and 275.8 to 277.5
March Soybean Oil
Resistance
should appear near 3319 to 3328 and 3377 to 3386
Support should appear near 3213 to 3194
March Corn
Resistance should appear near 287 1/2 to 288 1/4 and 292 3/4 to 293 3/4
Support is at 282 3/4 to 282 and 277 1/2 to 275 3/4
March CBOT Wheat
Support should appear near 368 1/4 to 366 1/4 and 362
1/4 to 361 1/4 .. Below
that
buyers should
appear near 356 1/4
to 355 1/4
..
BW Traders can buy at 357 for a bounce and risk a close under 342 1/4 for three days in a row..
Resistance should appear near 373 1/2 to 374
1/4, an extended trade over augurs for a test of 379 1/2 to 380 3/4 and
eventually the 385 3/4 to 386 3/4 region.
The Satisfying Softs
May the ‘Monster’ Coffee
Recommended open position long 3 at 7540 avg
Resistance is near 7335 to 7350 and 7415 to 7430
Support should appear near 7170 to 7140 and 7005 to 6990
May Cocoa
Recommended open position Short at 2 at 1518 avg
Support is at 1459 to 1453 and 1421 to 1415
Resistance should appear near 1484 to 1496 and 1529 to 1535
May Sugar
Recommended open position short at 581
Support should appear near 562 to 559 and the 538 to 534 region.
Resistance should appear near 582 to 586 and 601 to
609.
May
Cotton
Recommended open position long 2 at 6965 avg
Support should
appear near 6920 to 6905 and 6835 to 6810
Resistance should appear near 6990 to 7005. Beyond that a test of 7070
to 7085 and the 7140 to 7170 region is likely.
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
Thursday
February 19th 2004
6:00 PM South Florida Beach Time
Recommended Open Positions
Short March EC 12709
Short March Swiss Franc 8056
Long 2 March SP500 1154 Avg
Short April hogs 5880
Long July Hogs / Short April Hogs +90
Long 3 May Coffee 7540 avg
Short 2 May Cocoa 1518 avg
Short May Sugar 581
Long 2 March Cotton 6965 avg
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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