Economic and Investment Trend Analysis

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FuturesCom Investment Publications
Morning Comments Tuesday July 13th,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 July 12th, 2004
2:00 PM eastern time

Open BW Positions

The Frenzied Forex Front

Sept Yen
Resistance should appear near 9316 to 9347. Beyond that sellers should appear near 9429 to 9445 and the
9526 to 9542 region.. BW Traders can sell at 9427 and risk a close over 9488 for three days in a row..
Support should appear near 9237 and the 9156 to 9140 region. A close under augurs for a test of 9060 to 9044 and eventually the 8964 to 8934 region…

BW Traders should go short if a close under 9232 occurs..

Sept Euro Currency (EC)
Recommended open position Short at 12172
Support should appear at 12380 to 12320 and 12175
Resistance is at 12500 and the 12680 to 12740 region

Sept Swiss Franc
Recommended open position Short at 8022
Resistance should appear near 8194 to 8223 and 8300 to 8314..
Support should appear near 8134 to 8119 and 8044 to 8029

Sept British Pound
Support should appear near 18220 to 18080
Resistance should appear near 1.8580 to 1.8650

Sept Canadian Dollar
Support should appear near 7513 to 7486 , below that a test of 7428 to 7414 is likely
Resistance is at 7587 to7601 and 7675 to 7690

BW Traders should go short if a close under 7548 occurs..

Sept Aussie Dollar
Support should appear near 7170 to 7143
Resistance should appear at 7242 to 7255 and 7328 to 7342
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 10185 and 10257.
Support should appear near 10136 to 10104 and 10037 to 10021

September SP500
Recommended open position Long 4 at 1124 80 avg
Resistance should appear near 1130.00 to 1136.00
Support should appear near 1101.00 to 1096.00

Nasdaq Composite
Support should appear near 1909 to 1902
Resistance should appear near 1946 to 1953

Sept Mini Nasdaq 100
Resistance is at 1453 to 1459
Support is at 1421 to 1415 and 1383 to 1377

Sept 10 Year T-Note
Resistance should appear near 111-07 and 111-22 which should cap a rally.
Support is at 110-22 and 110-07 .

Precious Metals

August Gold
Recommended open position short 2 at 391.7 avg
Resistance should appear at 411 to 412 . Above that sellers should appear near the 416.3 to 418.3 region…
Support is at 405.6 to 404.6 and 399.2 to 398.2 .

Sept Copper
Support should appear near 12740 to 12680 , a close under augurs for a test of 12380 to 12320..
Resistance should appear near 13030 to 13100 and 13340 to 13460

Sept Silver
Recommended open position short at 633
Support should appear 651 to 648.5 and 627 to 625.5
Resistance is at 665.5 to 667.5.. Beyond that seller should appear near 674.0 to 675.5

The Exciting Energies
Sept Crude Oil
Resistance should appear near 3982 to 3992 and 4046 to 4056
Support should appear near 3992 to 3982 and 3929 to 3909

Sept Unleaded Gas
Resistance should appear near 12740 and 13030 to 13100
Support should appear near 12500 and 12380 to 12320

Sept Heating Oil
Resistance should appear near 10960 to 11010 and 11300 to 11360
Support should appear near 10680 to 10580 and 10360 to 10320..

The Lively Livestock
August Cattle
Recommended open position short 2 at 8507 avg
Support should appear near 8317 to 8302 .. Below that a test of 8227 to 8192 is likely
Resistance is at 8287 to 8407 and 8482 to 8502 and 8562 to 8592

August Hogs
Recommended open position Short 2 at 7627 avg
Support is at 7602 to 7587 and 7512 to 7487
Resistance is at 7672 to 7692 ..Above that sellers should appear near 7762 to 7777 and the 7837 to 7867 region , which should and cap a rally

BW Traders should go short if a close under 7582 occurs..

October Hogs
Support is at 6657 and 6512 to 6487 , a close under augurs for a test of 6432 to 6417
Resistance is at 6742 to 6757 and 6807 to 6837 .

August Pork Bellies
Resistance should appear near 11302 to 11362. BW Traders can sell at 11297 and hold for lower prices..
Support is 11010 to 10960, a close under augurs for a test of 10680 to 10580

BW Traders should go short if a close under 10952 occurs

The Grande’ Grains

December Corn
Support should appear near 251 1/4, a close under augurs for a test of 246 3/4 to 246
Resistance is at 255 1/4 to 256 3/4 and the 261 1/4 to 262 region.
BW Traders can sell at 260 3/4 and risk a close over 273 1/4 for three days in a row.

November Beans
Support is at 641 3/4 then 635 to 633 3/4 and the 619 to 616 1/2 region ..
Resistance is at 648 1/4 to 650 3/4 and 665 3/4 to 667 1/4 ..

December Soymeal
Recommended Open Position Short at 201
Support should appear near 199.6 to 198.2. Below that buyers should appear near 195.3 to 194.6
Resistance should appear near 203.4 to 204.2 and 208.8 to 208.9.

December Soybean Oil
Recommended open position Short at 2314
Resistance should appear near 2354 to 2370 and the 2411 to 2419 region.
Support should appear near 2322 to 2315 and 2275 to 2267

BW Traders should go short if a close under 2212 occurs.

Sept CBOT Wheat
Support should appear near 344 1/4to 342 1/2 and 338 3/4 to 337 3/4 and the 327 to 326 region.
Resistance should appear near 349 1/4 to 350 1/4 Beyond that sellers should appear near 355 1/4 to
356 1/4 and the 361 1/4 to 362 1/4 region… BW Traders can sell at 354 3/4 and risk a close over
363 1/4 for three days in a row..

The Satisfying Softs

September Coffee
Support is near 7005 to 6990 and 6920 to 6905 ..
Resistance should appear near 7145 to 7170 and 7240 to 7255
Aggressive BW Traders should go long if a close over 7265 occurs.

Sept Cocoa
Support is at 1421 to 1415, a close under is negative and augurs for a trade towards
1383 to 1377 and the 1346 to 1334 region.
Resistance is at 1453 to1459 and the 1484 to 1496 region ..BW Traders can sell at 1452 for a turn lower and risk a close 1502 for three days in a row. Beyond that ample sellers should appear near 1529 to 1535.
BW Traders should go short if a close under 1412 occurs..

October Sugar
Support should appear near 823 to 814,
Resistance should appear near the 847 to 852 and 877 to 882. BW Traders can sell at 876 and risk a close over 917 for three days in a row.

BW Traders should go short if a close under 811 occurs.

December Cotton
Recommended open postion Short at 4730
Support should appear near 4650 to 4635 and 4585 to 4570 ...
Below that buyers should appear near 4515 to 4505…
Resistance should appear near 4775 to 4785 and 4845 to 4855
BW Traders should go short if a close under 4770 occurs

- 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 July 12th
2:35 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.

Recommended Open BW Positions
Short Sept EC 12172
Short September Swiss Francs 8022
Long 4 Sept SP500 1124.80 avg
Short 2 August Gold 391.7 avg
Short 2 August Cattle 8507 avg
Short 2 August Hogs 7627 avg
Short December Soymeal 201
Short December Bean Oil 2314

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