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FuturesCom Investment Publications
Morning Comments Tuesday November 2nd 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 November 1st  2004
2:30 PM  Eastern time   

Open BW Positions

                                   The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near the 10104 to 10136 region. 
Support should appear near 10037 to 10021 and  9937 to 9921 

Dec SP500
Recommended open position long 1101.10
Resistance should appear near the 1130.00 to 1136.00 region. Beyond that a test of 1150 is likely
Support should appear near 1115.50.  BW Traders can buy at 1115.70 for a good bounce  and stay tuned for a stop..Below that buyers should appear near the 1101.00 to 1096.00 region.

BW  Traders should go long if a close over 1130.20 occurs   Stay tuned for Flashes and Updates

Nasdaq Composite
Support should appear near 1953 to 1946 and 1909 to 1902
Resistance should appear near the 1982 to 1996 region..

Dec Mini Nasdaq 100
Resistance is at 1496 and 1529 to 1535.
Support is at 1471.5 and 1459 to 1453
BW Traders should go long if a close over 1497.5 occurs.

Dec Mini Russell 2000
Support is at  585.5 and 580.5 to 579.5 
Resistance is at  594.5 to 595.7
BW Traders should go long if a close over 588.50 occurs

Dec 10 Year T-Note
Resistance should appear near 113-07 to 113-22 and 114-07 region
Support is at  112-22 and 112-07

                                 The Frenzied Forex Front
Dec Yen
Recommended open Position Short 2 at  9325 avg
Resistance should appear near 9429 to 9445 and 9526 to 9542.
Support should appear near  the 9347 to 9318 region 

Dec Euro Currency (EC)
Recommended Open Position short 12672
Support should appear at 12740 to 12680
Resistance should appear near 12815 then 12890 and the 13040 to 13100 region.

Dec Swiss Franc
Recommended open Position Short 8292
Resistance should appear near 8391 to 8406 and 8484 to 8499
Support should appear near 8314 to 8300 and 8223 to 8194
BW Traders should go short if a close under 8300 occurs 

Dec British Pound
Support should appear near 18220 to 18080.
Resistance should appear near the 1.8580 to 1.8650 region.

Dec Canadian Dollar
Support should appear near 8134 to 8119
Resistance is at 8194 to 8223 and 8300 to 8314

Dec Aussie Dollar
Support should appear near 7428 to 7414 and 7255 to 7242
Resistance should appear at 7487 to 7513 and 7675 to 7689

Precious Metals

December Gold
Recommended open position Short 3 at 404.4 avg
Resistance should appear at 430.4 to 431.5 and the 437 to 438.1 region.
Support is at 424.9 to 423.8 and 418.3 to 416.3
BW Traders should go short if a close under 423.7 occurs

Dec Copper
Support should appear near 13040 and 12740 to 12680.
 Resistance should appear near the13340 to 13460 region 

Dec Silver
Support should appear 717 to 714.5 and 700.5 to 699
Resistance is at 732.to 734.5, beyond that sellers should appear near 748.5 to 751.5                                        

                              The Exciting Energies


Dec Crude Oil
Resistance should appear near 5056 to 5067 and  5127 to 5139 
Support should appear near 4995 to 4973 and  4926 to 4915

December Unleaded Gas 
Resistance should appear near 13040 to 13100 and 13340 to 13460
Support should appear near 12740 to 12680 and 12380 to 12320   

Dec Heating Oil
Resistance should appear near 14150 to14210 and 14530 to 14590 
Support should appear near 13830 to 13770 and 13460 to 13340

 

  The Lively Livestock

December Cattle
Support should appear near 8317 to 8302.Below that a test of 8137 to 8122 region is likely.
Resistance is at 8482 to 8502 then 8562 to 8592 and 8667 to 8682.
BW Traders should go short if a close under 8387 occurs

February Cattle
Support should appear near 8682 to 8667 and 8592 to 8567 .
Resistance is at 8762 to 8777 and the 8857 to 8872 region..BW Traders can sell at 8757 and risk a close over 8972 for  three days in a row.

BW Traders should go short if a close under 8657 occurs.

December Hogs
Recommended open position short 2 at  6707 avg
Support is at 6837 to 6807 and 6757 to 6742 
Resistance is 6922 and the 6987 to 7002 region.. Beyond that 7072 to 7087 should cap a rally
BW Traders should go short if a close under 6657 occurs.

February Hogs
Support is at 6922 to 6907 and 6837 to 6807
Resistance is at 7072 to 7087 and 7142 to 7172 
BW .Traders can sell at 7072 and risk a close over 7182 for three days in a row.

Recommended open spread position
Long 2 June Hogs7022 /  Short 2 Dec Hogs 6917

February Pork Bellies
Resistance should appear near 9922 to 9937 and 10022 to 10037 BW  Traders can sell at 9922 and hold for lower prices. 
Support is at 9737 to 9707 and 9642 to 9622 .. Below that a test of 9542 to 9527 is likely.
                             --Stay tuned for BW updates and Flashes in the Livestock complex –

  

                               The Grande’ Grains

December Corn
Support should appear near 199 3/4 to 198 1/4 and 190 ¾ to 190 ¼.
Resistance is at 203 ½ to 204 ¼ and 208 to 208 ¾.. BW Traders can sell at 207 ¾ and risk a close over
218 ¾ for three days in a row.

January Soybeans
Recommended open position Short 522
Support is at 513 3/4 to 512 3/4 and 506 3/4 to 505 3/4.
Resistance is at 525 3/4 to 528 1/2 then 534 1/2 to 536 3/4 and 541 3/4 to 543.
BW Traders can sell at 541 1/4 and risk a close over 551 3/4 for three days in a row…

December Soymeal
Recommended open position short 150.0
Support should appear near 149.6 to 148.4  Below that buyers should appear near 142.1 to 141.5
Resistance should appear near 152.9 to 153.0 and 156.9 to 157.6. 
BW  Traders can sell at 156.9 and risk a close over 166.7 for three days in a row.

December Soybean Oil
Recommended open position short at 2119
Resistance should appear near 2126 to 2134 and 2170 to 2185.. beyond that sellers should appear near . 2219 to 2226 .. BW Traders can sell at 2212 and risk a close over 2279 for three days in a row. 
Support should appear near 2088 to 2080 . A close under augurs for a test of 1996 to 1982 
December CBOT Wheat
Recommended open Position Long  306 1/4
Support should appear near 304 1/2 to 303 3/4 and 299 to 2971/4 
Resistance should appear near 309 1/4 to 310 1/4 and  319 1/2 to 321 1/4
BW Traders should go long if a close over 321 ½ occurs

                         
                                   The Satisfying Softs
December Coffee 
Recommended open Position long at 7860
Support is near 7340 to 7325 then 7255 to 7240 and 7170 to 7145
Resistance should appear near 7485 to 7515 and 7585 to 7605

December Cocoa 
Support is at 1453 and 1421 to 1415.. Below that a test of 1383 to 1377 is likely.
Resistance is at 1484 to 1496 and 1529 to 1535

March Sugar
Support should appear near 823 to 814 and  795 to 791
Resistance should appear near 847 to 852 and 877 to 882.  BW Traders can sell at 876 and risk a close over 917 for three days in row. 

December Cotton
Support should appear near 4380 to 4370 then  4315 to 4305 and the 4250 to 4235 region
Resistance should appear near 4505 to 4515 and 4570 to 4585

- 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 November 1st,  2004
3:50 PM Eastern 


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 2  Dec Yen 9325 avg
Short Dec EC 12672
Short December Swiss Franc 8292
Long 2  Dec SP500 1116.30 avg
Short 3 Dec Gold 404.4 avg
Short 2  Dec Hogs 6707 avg
Long June Hogs/ Short Dec Hogs  +105
Short Jan Beans 522
Short December Soymeal  150.0
Short December Soybean Oil 2119
Long Dec Wheat 306 1/4 
Long Dec Coffee 7860 

                                                                          Terms