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FuturesCom Investment Publications
Morning Comments  Tuesday May 18th 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

Monday  May 17th   2004
3:45 PM. West Palm Beach Time  

Open BW Positions

                                    The Frenzied Forex Front
June Yen
Resistance should appear near 8762 to 8777 and 8856 to 8871 
Support should appear near 8683 to 8668 and the 8589 to 8560 region.

June Euro Currency (EC)
Recommended open position Short 2 at 11928 avg
Support should appear at 11975 and 11920
Resistance is at 12030 and 12175..Beyond that sellers should appear near 12320 to 12380
Aggressive BW Traders should go short if a close under 11802 occurs

June Swiss Franc
Recommended open position Short  2 at  7783 avg
Resistance should appear near 7836 to 7864 and 7939 to 7954
Support should appear near 7777 to 7762 and the 7689 to 7675
Aggressive  BW Traders should go short if a close under 7669 occurs

June British Pound
Recommended open position Short 17512
Support  should appear near the 1.7360 to 1.7310 region, which should contain a decline ..
Resistance should appear near  the17740 to 17800 region .

June Canadian Dollar
Recommended open position short 7241
Support should appear near  7088 to 7074..
Resistance is at 7170 and 7242 to 7255
BW Traders should go short if a close under 7137 occurs..

June Aussie Dollar
Support should appear near.6809  and the 6755 to 6740 region.. Under that 6673 to 6656 should contain a decline.
Resistance should appear at 6906 to 6919 and 6990 to 7003 
 

                                              The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 9921 to 9937
Support should appear near 9837 to 9821

June SP500
Recommended open position Long 3 at 1122.90 avg.
Resistance should appear near 1096 to 1101.
Support should appear near  the1068.00 to 1058.00 region
Aggressive BW Traders should go long if a close over 1101.10 occurs.

Nasdaq Composite
Support should appear near 1865 to 1858.
Resistance should appear near 1902 to 1909

June Mini Nasdaq 100
Resistance is at 1415 to 1421
Support is at 1383 to 1377.

June 10 Year T-Note
Resistance should appear near 109-22 then 110-07 and 110-22, which should Cap a rally
Support is at 109-07 and 108-22.

Precious Metals

June Gold
Recommended Open Position Short at 378.8
Resistance should appear at 385.8 to 386.7
Support is at 379.5 and 374.3 to 373.4 
BW Traders should go short if a close under 372.9 occurs.

July Copper
Recommended Open position Short 11445
Support should appear near 11360 to 11320  and the 11010  to 10960 region
Resistance should appear near 11500 and 11640 to 11690

July Silver
Support should appear 558 to 555.5 and 543 to 541.5.
Resistance is at 579.5 to 580.5 and 585.5 to 588 .

                                The Exciting Energies
July Crude Oil
Recommended Open Position Short at 4148
Resistance  should appear near 4163 to 4183 and 4238 to 4249
Support is at 4120 to 4110 and 4056 to 4046 

July Unleaded  Gas
Resistance should appear near 13770 to 13830 and the 14150 to 14290 region.
Support should appear near 13460 to 13340 and 1310 to 13040

July Heating Oil
Resistance should appear near 10580 to 10680 and the 10960 to 11010 region 
Support should appear near 10360 to 10320  and the 10135 to 10105  region.    

                                                    The Lively Livestock

August Cattle
Support should appear at 8137 to 8117
Resistance is at 8302 to 8317 and 8392 to 8407

July Hogs
Recommended open position long at 7412
Support is at  7257 to 7242 and 7170 to 7142
Resistance is at 7327 to 7342 and 7412 to 7427

August Hogs
Support is at  7142. Under that buyers should step in near 7087 to 7072  
Resistance is at 7242 to 7257, a close over is friendly and augurs for a test of 7327 to 7342

July Pork Bellies
Resistance should appear near 11637 to 11692 and 11805
Support  is 11502 and 11362 to 11322 

      ---  Traders should stay tuned for BW Updates and Flashes in the Livestock markets  ---

 

                                           The Grande’ Grains

July Corn
Support should appear near 293 3/4 to 292 3/4..   
Resistance  is at 297 1/2  to 299

July Soybeans
Recommended open position long at 974 ½  
Resistance is at 914 to 915 3/4 and 931 3/4 to 934 3/4
Support is at  896 3/4 to 893 3/4 .Below that buyers should appear near 877 3/4 to 876 3/4

November Beans
Support is at 691 3/4 to 690 3/4 and 683 3/4 to 680 3/4
Resistance is at  714 to 717 and the 732 3/4 to 734 1/4 region

July Soymeal
Support should appear near 288.3 to 287.4 and 282.9 to 282. 
Resistance should appear near 292.8 to 293.7 and 303.6 to 304.5.

July Soybean Oil
Resistance should appear near 2972 to 2990 and 3036 to 3045
Support should appear near 2937 to 2928 and  the 2883 to 2874 region.
                      

July CBOT Wheat
Support should appear near 362 1/4 to 361 1/4 and 356 1/4 to 355 1/4  
Resistance  should appear near 368 1/4 and 373 1/2 to 374 1/4  

                                 The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open position long 2 at  7155 avg
Support is near 6835 to 6810 and 6755 to 6740.
Resistance should appear near 6990 to 7005 and 7140 to 7170 
BW Traders should go long if a close over 7265 occurs.

July Cocoa 
Support is at 1310 to 1304 and 1274 to 1268 under that  1238 to 1232 should hold. ..
BW  Traders can buy at 1242 and risk a close under 1159 for three days in a row.
Resistance is at 1334 to 1346 and 1377 to 1383 .BW Traders can sell at 1374 and risk a close over 1432 for three days in row.

July Sugar
Support should appear near 634 to 630 and 609 to 601. 
Resistance should appear near 656 to 661 and 682 to 686.  BW Traders can sell at 655 and risk a close over 689 for three days in row. 

July  Cotton
Recommended open position long at 6355
Support should appear near  6415 and 6350 to 6335 
Resistance should appear near 6485 to 6510 and 6575 to 6590

- A Ship in Harbor is Safe...But that is not what ships are built for -
Happy Trading!  

Bill  wil@futurescom.com

1-866-409-3890

Monday May 17th , 2004
3: 30 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. 
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                                                                         Terms 

FuturesCom Investment Publications Copyright@1996-2004 all rights reserved
Recommended Open BW  Positions
Short 2 June  EC 11928 avg
Short 2 June Swiss Franc 7783 avg
Short  June  British Pounds  17512
Short June Canadian Dollars 7241
Long  3 June SP500 1122.90 avg 
Short  June Gold 378.8
Short July Copper 11445 
Short July Crude Oil 4148
Long  July Hogs 7412
Long July Soybeans 974 1/2
Long 2  July Coffee 7155
Long July Cotton 6355