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Morning Comments Friday Sept 10th,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
Thursday Sept 9th, 2004
10:00 PM eastern time
Due to the Hurricane Frances we have out of pocket this
week.
We are operaating on generators and practically no phone access.
This wekend we should be up to normal operations.
There have been 3 BW trades since Friday. Selling Dec Canuck at 7762, selling
Nov Beans at 583 1/2.
and selling oct unleaded gas at 12305.
BW and Index Program Traders Should Roll the recommended Long Sept SP500 to
December MOC
The Frenzied Forex Front
Dec Yen
Recommended open position Short 3 at 9148 avg
Resistance should appear near 9156 and 9237.
Beyond sellers should appear near 9316 to 9347.
Support should appear near 9060 to 9044, a close under augurs for a test
of 8964 to 8934
Dec
Euro Currency (EC)
Recommended Open Position Short
12149
Support should appear at 12102
then 12030
to 11975 and 11920.
Resistance is at
12247 and the 12320 to 12380 region
BW Traders should go short if a close under 11917 occurs
Dec Swiss Franc
Recommended open Position Short at 7991
Resistance should appear near 7954 and the 8029 to 8044
region
Support should appear near 7864 to
7836 and the 7777 to 7763 region
BW Traders should go short if a close under 7901 occurs
Dec
British Pound
Support should appear near 17562 and 17380 to 17310
Resistance should appear near
17800 and 18080 to 18220
BW Traders should go short if a close under 17505 occurs.
Dec
Canadian Dollar
Recommended open Position Short 2 at 7686 avg
Support should appear near
7689 to 7675 and 7601 to 7586
Resistance is at 7763 to 7777 . Above that sellers should appear near 7836 to 7864.
Dec Aussie Dollar
Support should appear near 6809 and the 6755 to 6741 region.. Below that a
test of 6673 to 6659 is likely
Resistance should appear at 6909
to 6919 and 6990 to 7003
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should
appear near 10320 to 10360 and 10470
Support should appear near 10247 then 10185 and 10136 to 10104
September SP500
Recommended open position Long 2
at 1097.9
Dec SP500
Resistance should appear near the 1130.00 to 1136.00 region.
Support should appear near 1115.50 and 1101.00 to 1096.00
Nasdaq Composite
Support should appear near 1865 to 1858 and 1822 to 1808
Resistance should appear near the 1902 to 1909 region.
Dec Mini Nasdaq 100
Resistance is at 1383
and 1415 to 1421
Support is at 1346 to 1334 and 1310 to 1304
December
10 Year T-Note
Resistance should
appear near 112-07 then 112-22 and 113-07.
Support is at 111-22 and 111-07
failure there augurs for a test of 110-22.and 110-07.
Precious Metals
December Gold
Recommended Open Postion Short 2 at 401.2
Resistance should appear at 404.6 to 405.6 and 411 to 412 .beyond that
416.3 to 418.3 should cap a rally..
Support is at 399.3 to 398.2 and the 392.9 to 390.9
December Copper
Recommended open Position Short at 12420
Support should appear near 12380 to
12320.. Below that buyers should appear neat 12030 to 11920
and the 11690 to 11640 region.
Resistance should appear near 12740 and 13030 to 13100. Beyond that sellers
should appear near the 13340 to 13460 region. BW Traders can sell at 13020 for a
turn lower and risk a close over 13510 for three days in a row.
Dec Silver
Recommended open Position Short at 678
Support should appear 619 to 616.5 and 603.5 to 602.0.
Resistance is at the 633.5 to 635 and 641.5 to 643 .
The
Exciting Energies
Oct Crude Oil
Resistance should
appear near 4503 to 4514 beyond that sellers should appear near
4571 to 4582 and cap a rally.. BW
Traders can sell at 4501 and hold
for lower prices ..risk a close over 4593 for three days in a row.
Support should appear near 4381 to 4370 .. a close under augurs for a test
of 4315 to 4304 ..
October
Unleaded Gas
Recommended open postion short at 12305
Resistance should appear
near 12680 to 12740 and 13040 to 13100
Support should appear near 12030 to 11920
October Heating Oil
Resistance should appear near 12320 to 12380
and 12680 to 12740.
Support should appear near 12030 to 11920 and 11690 to 11640
The Lively Livestock
October Cattle
Support should appear near the 8222 to 8192 and 8137 to 8122
A close under augurs for a test of
6047 to 8032 and the 7957 to 7942 region.
Resistance is at 8302 to 8317 and 8392 to 8407 ..Beyond that resistance
should appear near 8482 to 8502 BW
Traders can sell at 8477 and risk a close over 8692 for three days in a row
Aggressive BW Traders should go short if a close under 8187 occurs.
October Hogs Support is at 6512 to 6482 and 6432 to 6417… A close under augurs for a test of 6352 to 6337. Resistance is at 6577 to 6592 then 6657 to 6672 and 6742 to 6757 Beyond that Sellers should appear near 6807 to 6837 .
February Pork
Bellies
Resistance should appear near the 9522 to 9542 and the 9707 to 9737 region. .
Support is
at 9347 to 9317 below that a test of 9157 to 9142 is likely.
The Grande’ Grains
December Corn
Recommended open Position Short at
237
Support should appear near 222 ¾ to 221 ¾ .
Resistance is at
231 ½ to 232 ¼
November Beans
Recommended open Position Short at 583 1/2
Support is at 572 ¾ to 571 ¾
and 565 1/4 to 564
Resistance is at 585 1/2 to
588 and 595 1/2 to 595 3/4
December Soymeal
Recommended open Position Short at 177.2
Support should appear near 169.6 to 168.9 and 165.5 to 164.2 . Below that
a test of 161.5 to 160.9 is likely
Resistance should appear near the
173.1 to 173.8 and the 177.4 to 178.0 region .
BW Traders should go short if a close under 168.7 occurs
December Soybean Oil
Recommended open Position Short at 2314
Resistance should appear near 2411 to 2419 and 2461 ton 2469
Support
should appear near 2322 to 2315 and 2275 to 2267
December CBOT Wheat
Recommended open Position Long at 333
Support should appear near 315 ¾ to 314 ¾ and 310 ¼ to 309 ¼ .. Below that 299 to 297 ¼ and the 293
¾ to 292 ¾ region should contain a decline.. Traders can buy at 310 ¾ for a
bounce and risk a close under
296 ¾ for three days in a row..
Resistance should appear
near 326 ¼ to 327.A close over augurs for a test
of 337 ¾ to 338 ¾ .
The
Satisfying Softs
December
Coffee
Recommended open Position Long at 7345
Support is near the 7340 to 7325 and 7175 to 7140.
Resistance should appear near the 7415 to 7430 region. A close
over is friendly and augurs for a test of 7760
to 7775.. BW Traders should go long if a close over 7435 occurs.
December Cocoa
Support is at 1459 to 1453 and 1421 o 1415
Resistance is at 1484 to 1496 and 1529 to 1535 .
October Sugar
Recommended open Position Short at 789
Support should appear near 767 to 763 region. Below that a
test of 739 to 735 is likely
Resistance should appear near 791 to 795 and 814 to 823
December Cotton
Support should appear
near 5140 to 5125 and 5065 to 5055
Resistance should appear near 5255
to 5280 and 5345 to 5355. Beyond that sellers should appear near 5415 to
5430
- 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
Thursday Sept 10th
2004
11:35 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 3 Dec Yen 9148 avg
Short Dec EC 12149
Short December Swiss Franc 7991
Short Dec Canadian Dollars 7610
Long 2 Sept SP500 1097.90
Short 2 Dec Gold 401.2 avg
Short Dec Copper 12420
Short Dec Silver 678
Short Oct Unleaded Gas 12305
Short December Corn 237
Short Nov Beans 583 1/2
Short Dec Soymeal 177.2
Short Dec Bean Oil 2314
Long Dec Wheat 333
Long Dec Coffee 7345
Short Oct Sugar 789