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Morning Comments Thursday May 6th 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 May 5th 2004
3:00 PM. West Palm Beach Time
The
Frenzied Forex Front
June Yen
Resistance should appear near 9237 and 9314 to 9347
Support should appear near 9156 to 9144
June Euro Currency (EC)
Support should appear at 12030 and 1.1920, a close under augurs for a test of 11805
and eventually the 11690 to 11640 region.
Resistance is at 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.
Aggressive BW Traders should
go short if a close under 11917 occurs
June Swiss
Franc
Recommended open position Short 3 at 7751 avg
Resistance should appear near the 7939 to 7954 region
Support
should appear near 7836 and 7777 to 7763.
June British Pound
Recommended open position Short 17651
Support should
appear near 17800 to 11740 and 17560 and the
Resistance should appear near the 18080 to 18150 region .. Beyond that 18220 should provide
resistance .
BW Traders can sell at 18132 to a turn lower and risk a close over 18232 for
three days in a row
BW Traders should go short if a close under 17552 occurs.
June Canadian Dollar
Support should appear near
7255 to 7242 and the 7170 to 7143 region.
Resistance is at 7328 to 7342 then
7414 to 7428 and the 7486 to 7513 region.. Below Traders can sell at 7409 and
risk a close over 7518 for three days in a row. BW Traders should go short if a close under 7237 occurs..
June Aussie Dollar
Support should appear near 7255 to 7242 and 7170 to 7142
Resistance should appear at 7328 to 7342 .beyond that
sellers should appear near 7414 to 7428 and the 7486 to 7513 region..
BW
Traders can sell at 7484 and risk a close over 7557 for three days in a row.
Aggressive BW Traders should go short if a close under 7137 occurs..
The Sensational Stock and Bond Markets
Dow
Jones Industrial Average
Resistance should appear near 10320 to 10380 ,a close over is friendly and
augurs for a test of 10470
Support should appear near 10136 to10104, which should hold
and contain a decline for the time being. Below that if the crazies come out of
the woodwork a decline into the 9937 to 9921 region is possible and would
provide a good buying chance..
June SP500
Recommended open position Long 3 at 1126.30 avg.
Resistance should appear near 1130 .00
to 1136.00 and the 1164.00
to 1169.00 region
Support should appear near 1101.00 to 1096.00 and the 1060.00 to 1058.00
region
Nasdaq Composite
Support should appear near 1953 to 1946
Resistance should appear near 1982 to 1996
June Mini Nasdaq 100
Resistance is at 1453 to 1459
Support is at 1421 to 1415
June
10 Year T-Note
Resistance should
appear near 110-07 and 110-22.
Beyond that sellers should appear near 111-07
Support is
at 109-22.. Below that buyers should appear near 109-07
Precious Metals
June Gold
Recommended Open Position Short at 391.7
Resistance should appear at 398.2 to 399.2
Support is at 386.70 to 385.80.
BW Traders should go short if a close under 385.4 occurs.
July Copper
Support should appear near 123.8 to 123.2 and 120.30 to 119.20
Resistance should appear near the 12680 to 12740
region. Beyond that sellers should appear near 13040 to 13100.
BW Traders can sell at 13030 and risk a close over 13510 for three days in
a row
Aggressive BW Traders should go short if a close under 11910 occurs.
July Silver
Support should appear 596 to 594.5 then 558 to 555.5
Resistance is at 616.5 to 619 and 641.5 to 643
The Exciting Energies
June
Crude Oil
Resistance should
appear near 3982 to 3992 and
the 4046 to 4056 region, which should cap the rally…BW Traders can sell at 4044 and hold for lower prices
Support is at 3929 to
3909 and 3806 to 3795
June Unleaded
Gas
Recommended open position short 12670
Resistance should appear
near 13340 to 13460
Support should appear near 12740 to
12680
June Heating Oil
Recommended open position short 9705
Resistance should appear near 10020 to 10035
and 10105 to 10135
Support should appear near 9835 to 9820 and 9735 to 9705
The Lively Livestock
June Cattle
Support should appear at 8502 to 8482 and 8407 to 8392
Resistance is at 8562 to 8587 then 8667 to 8682 and 8762 to 8777
June Hogs
Support is at 7427 to 7412 and 7342 to 7327
Resistance is at 7487 to 7512 and 7587 to 7602
BW Traders should go short if a close under 7232
occurs.
July Hogs
Recommended open position long at 7550
Support is at 7512 to 7487 and 7432 to 7417.BW Traders can buy at 7417 and risk a
close under 7317 for three days in a row.
Resistance is at 7587 to 7602 and 7672 to 7692
July Pork Bellies
Resistance should appear near 11640 to 11690
Support is
11360 to 11300
---
Traders should stay tuned for BW Updates and Flashes in the Livestock
markets ---
The
Grande’ Grains
July Corn
Recommended Open Position Long 322 1/2
Resistance
should appear near 326 1/4 to 327
and 331 3/4 to 332 3/4
Support
is at 319 1/2 and the 315 3/4 to 314 3/4 region.
BW Traders should go long if a close over 328 1/4 occurs.
December Corn
recommended Open Position Long 299 3/4
Resistance should appear near 319 1/2 to 321 1/2 .
Support is at 314 3/4 and 304 1/2 to 303 3/4
..
BW Traders should go long if a close over 323 1/2 occurs.
July Soybeans
Resistance is at 1032 to 1036 and 1058 to 1068.
Support should appear at 1013 3/4 to
1010 1/2 and the 1003 3/4 to 1002
1/2 region..
July
Soymeal
Recommended Open position Long 321.6
Support should appear near 321.3 to 319.4 and 310.2 to 309.2
Resistance should appear near 326.1 to 327.0
and the 331.9 to 332.6 region.
July Soybean Oil
Recommended Open Position Short at 3135
Resistance should appear near 3377 to 3386 .. Beyond that sellers should
appear near 3425 to 3443 and the 3493 to 3503 region.
Support should appear near 3319 a close under augurs for a test of 3270 to 3261
and the 3213 to 3194 region, which should contain a decline, BW Traders can go short if a close under 3309 occurs
Stay tuned for BW Flashes and Updates..
July CBOT Wheat
Support
should appear near 405 3/4 to 404 3/4 and 399 1/2 to 398 1/4
Resistance should appear near 411 to 412 and 416 1/4 to
418 1/4
Trade Accordingly and Stay tuned for updates
The
Satisfying Softs
July the ‘Monster’ Coffee
Recommended Open position long at 7220
Support is near 7170 to 7145 and 7005 to 6990
Resistance should appear near 7240 to 7255 and the 7325
to 7340 region.
July Cocoa
Recommended open position short at 1385
Support is at 1346 to 1334 and 1310 to 1304
Resistance is at 1377 to 1383 and 1414 to 1428
July Sugar
Recommended Open position Short at 662
Support should appear near 661 to 656 and 634 to 630.
Resistance should appear near 682 to 686 and 704 to 712
July Cotton
Recommended open Position Long at 6380
Support
should appear near 6025 and 5955 to
5945
Resistance should appear near 6105 to 6115 and 6165 to 6190 .
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 May 5th, 2004
4:25 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 3 June Swiss Franc 7657 avg
Short June British Pounds 17651
Long 3 June SP500 1126.30 avg
Short June Gold 391.7
Short June Unleaded Gas 12670
Short June Heating Oil 9705
Long July Hogs 7550
Long July Soymeal 321.6
Short July Soybean Oil 3135
Long July Corn 322 1/2
Long December Corn 299 3/4
Long July Coffee 7220
Short July Cocoa 1384
Long July Cotton 6380