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FuturesCom
Investment Publications
Morning Comments Monday August 16th,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
“We can easily forgive a child who is afraid of the dark.
The real tragedy of life is when men are afraid of the light”
-Plato-
Saturday August 14th, 2004
5:45 PM eastern time
Open BW
Positions
* indicates change in recommendation price
The dollar dropped on Friday after the release a unexpected 55
billion trade deficit ,expectations were for a
47.5 billion deficit, the increase was largely attributed to record high oil
prices .....Most traders are primarily bearish the dollar.. Considering that
during election years December Gold has never closed the month of October higher
than the close of June and the Swiss Francs has been lower at the end of October
than the close of June during 7 out of the last 8 elections, we
remain dollar friendly...and further suggest that over the next year the dollar
will be substantially higher....In addition traders should treat the recent
decline in the US equity market as a test of support and if it holds ,
should look for higher prices into spring of 2005.
The
Frenzied Forex Front
Recommended open position Short at 8984
Resistance should appear near 9060 and 9156 to 9140 .
Aggressive BW Traders can sell at 9154 and hold for lower prices
Support should appear near 8964 to 8934 and the 8871 to 8856 region.
Sept
Euro Currency (EC)
Support should appear at 12175
and 12030 to 11975
Resistance is at
the 12380 region. Beyond that sellers
should appear near 12500
* BW Traders should go short if a close under 12318 occurs
Sept Swiss Franc
Resistance should appear near 8119
to 8134
Support should appear near 8044 to
8029 and 7954 to
7939
* BW Traders should go short if a close under 8027 occurs,
Sept
British Pound
Recommended open position Short at 18197
Support should appear near 18220 to 18150 and 18080.
Resistance should appear near 18400
and the 18580 to 18650 region..Below Traders can sell at 18570 and risk a
close over 18680 for three days in a row
Sept Canadian Dollar
Support should appear near 7601
to 7586
Resistance is at 7675 to 7690
Sept Aussie Dollar
Recommended Open Position Short at 7137
Support should appear near 7088 to 7074 and 7003 to 6990.
Resistance should appear at 7170 .Beyond that sellers should appear near
the 7242 to 7255 region.
BW Traders should go short if a close under 7072 occurs..
Trade accordingly and stay tuned for Flashes
The
Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should
appear near 9921 to 9937
Support should appear near 9821 and 9737to 9706
September SP500
Recommended open position Long at 1076.10
Resistance should appear near 1068.00 and 1082.00
Support should appear near 1063.00 and 1058.00 .. Below that
buyers should appear near
the 1036.00
to 1032.00 region.. BW Traders can buy at 1036.30 and risk a close under 1030.90 for three
days in row.
Nasdaq
Composite
Support should appear near 1738 to 1731 and 1696 to 1689
Resistance should appear near 1774 to 1780
Sept Mini Nasdaq 100
Resistance is at 1334 to 1346
Support is at 1310 to 1304 and 1274 to 1268
Sept 10 Year T-Note
Resistance should
appear near 113-07 and 113-22
Support is at 112-22 ,a close under
augurs for a test of 112-07 and 111-22
Precious Metals
December Gold
Recommended open position short at 397.9
Resistance should appear at 404.6
to 405.6 BW
Traders can sell at 404.5 and hold for lower prices.. Beyond that sellers should appear at 411.0 to 412.0
Support is at 399.2 to 398.2 and 392.9 to 390.9
Sept Copper
Support should appear near 131.00 to 130.40 and 12740 to 12680
Resistance should appear near 13340 to 13460 and the 13770 to 13830 region..
Which should cap a rally..
BW traders can sell at 13740 and risk a close over 13870 for three days in a
row.
Sept Silver
Recommended open position short at 654
Support should appear 659 to 657.5 and 650.5 to 648
Resistance is at 665.5 to 667.5 and 674 to 675.5
.
The Exciting Energies
Oct Crude Oil
Recommended open position short at 4501
Resistance should
appear near 4639 to 4650 and 4695 to 4717
Support should appear near 4582 to 4571 and 4514 to 4503
Sept Unleaded
Gas
Support should appear near
13460 to 13340 and 13100 to 13040
Resistance should appear near 13770 to 13830 and 14150 to 14210
* BW Traders should go short if a close under 1.3330 occurs.
Sept Heating Oil
Resistance should appear near
12030 to 11920 and 11690 to 11640.
Support should appear near 12320 to 12380 and 12680 to 12740 which should
cap the rally
The Lively Livestock
October Cattle
Recommended open position short at 8852
Support should appear near 8967 to 8932 and 8872 to 8857
Resistance is at 9042 9062 and 9137 to 9157
October
Hogs
Recommended open position Short at 6985
Support is at 6807 and 6757 to 6742
Resistance is at 6907 to 6922 and 6992 to 7002
February Pork
Bellies
Resistance
should appear near 9527 to 9542 and 9622 to 9647.
Support is 9447to
9422 and 9347 to 9317
The Grande’ Grains
December Corn
Support should appear near 227 1/2 to 226 1/4
and 222 3/4 to 221 3/4
Resistance is at
231 1/2 to 232 1/4 and 235
1/2 to 237
November Beans
Recommended open position short at 585 1/4
Support is at 580
1/2 to 579 1/4 and 572 3/4 to 571 3/4
Resistance is at 585 1/2 to 588 then
594 1/2 to 595 3/4 and the 602 1/4 to 603 1/2 region
December Soymeal
Support
should appear near 173.8 to 173.1 and 169.6 to 168.9
Resistance should appear near 177.4 to 178.0 and
180.8 to182.2
December Soybean Oil
Resistance
should appear near 2267 to 2275
Support
should appear near 2185 to 2170
Sept CBOT Wheat
Recommended open position long at 304 3/4
Support should appear near 299 to 297 1/4 and 293 3/4 to 292 3/4
Resistance should appear
near 303 3/4 to 304 1/2
The Satisfying Softs
September Coffee
Recommended Open Position Long at 6680
Support is near the
6430 to 6415 and 6350 to 6335
Resistance should appear near 6575 to 6590 and 6655 to 6675
Sept Cocoa
Support is at 1615 to 1609 and 1576 to 1569.
Resistance is at 1642 to 1655 .
October Sugar
Recommended Open Position Short at 806
Support should appear near the 767 to 763 and 739 to 735
Resistance should appear near 791 to 794 and 814 to 823
December Cotton
Support should appear
near 4385 to 4370 and 4315 to 4305.
Resistance should appear near 4445 and 4505 to 4515
- 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
Saturday August 14th 2004
7:45 PM South Florida Beach Time
THIS
PUBLICATION IS SUBJECT TO REVISIONS AND 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.
FuturesCom Investment
Publications Copyright@1996-2004 all rights reserved
Recommended Open BW Positions
Short Sept Yen 8984
Short Sept British Pounds 18197
Short Sept Aussie Dollar 7137
Long Sept SP500 1076.20
Short Dec Gold 397.9
Short Sept Silver 654
Short October Crude Oil 4501
Short October Cattle 8852
Short October Hogs 6985
Long Sept Wheat 304 3/4
Long Sept Coffee 6680
Short October Sugar 806