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Morning
Comments, Thursday April 22nd 2004
Serving Professional and Individual Traders World Wide since 1988
7690
Rockport Circle , Lake Worth , Florida 33467 - USA and Canada
Toll Free : 1-866-409-3890 - Intl : 1- 561-433-2995
http://www.futurescom.com
Wed April 21st 2004
4:00 PM. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9237 and the 9314 to 9347 region.
Support should appear near 9156
to 9140 and the 9060 to 9044 region
June Euro
Currency (EC)
Recommended Open Position Short 11889
Support should appear at 11805
and the 11690 to 11640 region.
Resistance is at 11975 to 12030 and
12175..Beyond that sellers should appear near 12320 to 12380 BW Traders
can sell at 1.2174 for a turn lower and hold for lower prices … Risk a close
over 12252 for three days in a row.
June Swiss
Franc
Recommended open position short 2 at 7730 avg
Resistance should appear near 7675 to 7689 and 7763 to 7777.
Support should appear near 7601 to
7587 and the 7513 to 7486 region .
June British Pound
Recommended Open Position Short 17651
Support
should appear near 17560 and the 17360 to 17310 region
Resistance should appear near
17740 to 17800 and 17940
June Canadian Dollar
Recommended Open Position Short 7373
Support should appear near the
7342 to 7328 region. Under that buyers should appear near 7255 to 7242
Resistance is at 7414 to 7428 and the
7486 to 7513 region..
BW Traders can sell at 7482 and risk a close over
7604 for three days in a row.
June Aussie Dollar
Recommended Open Position Short 7306
Support should appear near 7255 to 7242 and 7170 to 7143
Resistance should appear at 7328 to 7342 and 7414 to 7428
The Sensational Stock and Bond Markets
Dow
Jones Industrial Average
Resistance should appear
near 10320 to 10360 and 10470,
Support should appear near 10257 and 10136 to10104
June SP500
Recommended Open Position long 1115.70
Resistance should appear near 1130 to 1136
Support should appear near the 1101.00 to 1096.00 region
BW Traders should go long if a close over 1136.70 occurs.
Nasdaq Composite
Support should appear near 1982 below that buyers should appear near 1953 to
1946
Resistance should appear near 2034 to 2042 , a close over is friendly and
augurs for a test of 2080 to 2089
June Mini Nasdaq 100
Resistance is at the 1484 to 1496 region.
Support is at 1453 and 1421 to 1415.
June
10 Year T-Note
Resistance
should
appear near 111-07 and 111-22.
Support
is
at 110-22 .. Below that buyers should appear near 110-07
Trade accordingly.
Precious Metals
June Gold
Recommended Open Position Short 391.7
Resistance should appear at 392.90 and 398.2 to 399.2 Beyond that sellers should
appear near 411 to 412 and 416.3 to
418.3.
BW Traders can sell at 410.90 and risk close over 418.7 for three days in a
row.
Support is at 386.70 to 385.80 and 380.6 to 379.5
July Copper
Recommended Open Position Short 12260
Support should appear near 12030 to 11920 and 11805.
Resistance should appear near 12320 to 12380 and 12680 to 12740
July Silver
Support should appear 595.5 to 594.5 and 543.to 541.5
Resistance is at 625 to 627 and 657 to 659. .
The Exciting Energies
June
Crude Oil
Resistance should
appear near 3613 to 3623 and 3663 to 3683
Support is at 3563 to 3553 and
the 3503 to 3493 region.
June Unleaded
Gas
Resistance should appear
near 11500 and 11640 to 11690 beyond that sellers should appear near 11805
Support should appear near 11300 failure there augurs for a test
of 11010 to 10960 and eventually the 10680 to 10580 region.
Which should hold..
June Heating Oil
Resistance should appear near
9140 to 9155 and 9315 to 9345
Beyond that 9705 to 9735 should
cap a rally ,, .BW Traders can sell at 9705 and risk a
close over 9945 for three days in a row.
Support should appear near 8965 to 8935 and 8775 to 8760
The Lively Livestock
June Cattle
Recommended Open position Short at 7757
Support should appear at 7692 to 7672 and the 7602 to 7587 region
Resistance is at 7762 to 7777 and 7832 to 7867
June Hogs
Support is at 7002 to 6992 and
the 6922 to 6907 region
Resistance is at 7077 to 7087 and 7142 to 7170
July Hogs
Support is at 7002 to 6992 and 6922 to 6912
Below that buyers should
appear near 6837 to 6807 Which should hold. BW Traders can buy at 6842 and risk a close under
6652 for three days in a
row.
Resistance is at 7072 to
7087 region.. Beyond that sellers should appear near 7142 to 7172.
BW Traders should go long if a close over 7092 occurs.
May Pork
Bellies
Support should appear near 10580 and 10470.
Resistance is at 10820 and
10960
---
Traders should stay tuned for BW Updates and Flashes in the Livestock
markets ---
The Grande’ Grains
July Soybeans
Recommended Open Position Long 937
Resistance is at 942 3/4 to 944 1/2 and 952 3/4 to 954 1/4
Support should appear at 931 3/4 and 915 3/4 to 914 ..
July Soymeal
Support should appear near 292.8
and the 282.9 to 282 region, which should hold. BW Traders
can buy at 283.1 and risk a close under 271.2 for three days in a row.
Resistance should appear near 297.2 to 299 and 303.6 to 304.5
July Soybean Oil
Recommended Open Position Short 3135
Resistance should appear near 3148 to 3157 and 3194 to 3213 ..
Support should appear near 3102 to 3092 and 3045 to 3036
July Corn
Resistance should appear near 314 3/4 to 315 3/4
Support is at 304 1/2 to 303 3/4
December Corn
Recommended Open Position Long 299 3/4
Resistance should appear near 303 3/4 to 304 1/2 and 309 1/4 to 310 1/4
Support is at 299 to 297 1/4 and 293 3/4 to 292 3/4
BW Traders should go long if a close over 316 1/4 occurs.
July CBOT Wheat
Recommended open position long 402 1/2
Support should appear near 392 3/4 to 390 3./4 and 386 3/4 to 385
3/4
Resistance should appear
near 398 1/4 to 399 1/4 and the 404 3/4 to 405 3/4 region.
Trade Accordingly and Stay tuned for updates
The Satisfying Softs
July the ‘Monster’ Coffee
Support is near the 6835 to 6810 region.. Under
that buyers should appear near 6755 to 6740 and 6670 to 6655.
BW Traders can buy at 6765 and hold for higher prices.. risk a close under 6655
for three days in a row.
Resistance should appear near695 to 7005 and 7075 to 7090
BW Traders should go long if a close over 7265 occurs.
July Cocoa
Support is at 1334 and the 1310 to 1304 region.. Below that buyers should
appear near 1274 to 1268 where it should hold .
BW Traders can buy at 1277 and risk a
close under 1227 for three days in a row.
Resistance is at 1377 to 1383 and 1414 to 1428
July
Sugar
Support should appear near 682 , a slip under augurs for a test of 661 to 656. BW
Traders can buy at 663 for a turn higher and risk a close under
627 for three days in a row..
Resistance should appear near the 704 to 712
region. Beyond that resistance should surface near
735 to 739
July Cotton
Support
should appear near 6190 to
6165 and the 6115 to 6105 region
Resistance should appear near 6335 to 6350 . A close over is friendly and
augurs for a test 6485 to 6510
BW Traders should go long if a close over 6355 occurs
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
Wed April 21st, 2004
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.
-----------------------------------------------------------------------------------------
Terms
FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW Positions
Short June EC 11889
Short 2 June Swiss Franc 7730 avg
Short June British Pounds 17651
Short June Canadian Dollars 7373
Short June Aussie Dollars 7306
Long June SP500 1115.70
Short June Gold 391.7
Short July Copper 1.2260
Long July Soybeans 937
Short July Soybean Oil 3135
Long December Corn 299 3/4
Long July Wheat 402 1/2
Short June Cattle 7557