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FuturesCom Investment Publications
Morning Comments  Monday November 8th 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

Sunday November 7th,   2004
4:30 AM  Eastern time   

"A lot of people approach risk as if it’s the enemy, when it’s really fortunes accomplice.” 

Open BW Positions

 

                                   The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 104,70 and 10,580 to 10,630
Support should appear near 10,136 to 10,104 and10,037 to 10,021 

Dec SP500
Resistance should appear near 1169.00 and 1180.5. Beyond that a test of 1192 to 1203 is likely.
Support should appear near 1164.00 and 1150.00. Below that 1136.00 to 1130.00 should hold.

Traders should stay tuned for updates  

 Nasdaq Composite
Support should appear near 1996 to 1982 
Resistance should appear near 2042 and 2080 to 2089.

Dec Mini Nasdaq 100
Recommended open position long at 1498.5
Resistance is at 1535 and 1569 to 1576
Support is at 1496 to 1484

Dec Mini Russell 2000
Recommended open position long at 595.8
Support is at  603.5 to 602.3 and 595.5 to 594.5 
Resistance is at  610.5 to 611.9 and the 616.5 to 619

Dec 10 Year T-Note
Resistance should appear near 112-22 and 113-07
Support is at  112-07 and 111-22

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

Dec Euro Currency (EC)
Support should appear at  12740 to 12680
Resistance should appear near 13040 to 13100

Dec Swiss Franc
Recommended open Position Short 2 at  8287 avg
Resistance should appear near 8560 to 8589 and 8668 to 8683
Support should appear near 8499 to 8484 and 8406 to 8391

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 8314 to 8300
Resistance is at 8391 to 8406 

Dec Aussie Dollar
Support should appear near 7601 to 7587
Resistance should appear at  7675 to 7689 

Precious Metals

December Gold
Recommended open position Short  421
Resistance should appear at 437 to 438.1
Support is at 431.5 to 430.4  

Dec Copper
Support should appear near 13460 to 13340.
Resistance should appear near the 13770 to 13830 region 

Dec Silver
Support should appear 742.5.0 to 741.5 and 734.5 to 732.5
Resistance is at 751.5 and 767.5 to 768.5                                       

                              The Exciting Energies


Dec Crude Oil
Resistance should appear near 4973 to 4995 and 5056 to 5067
Support should appear near 4926 to 4915 and 4856 to 4845

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 13770 to 13830 and 14150 to 14210  
Support should appear near 13460 to 13340 and 13100 to 13040

 

The Lively Livestock

December Cattle
 Recommended open position short at 8375
Support should appear near 8222 to 8192 and 8047 to 8027
Resistance is at 8302 to 8317 and 8392 to 8407.. beyond that sellers should appear near 8482 to 8502
BW traders can sell at 8482 and risk a close over 8692 for three days in a row 

February Cattle
 Recommended open position short at 8590
Support should appear near 8567 then 8502 to 8482 and 8407 to 8392
Resistance is at 8667 to 8682 the 8762 to 8777 and 8857
BW Traders can sell at 8757 and risk a close over 8972 for  three days in a row.

December Hogs
Recommended open position short 6907
Support is at 7172 to 7142 and 7087 to 7072 
Resistance is 7242 to 7257 then 7327 to 7342

February Hogs
Recommended open position short 7072
Support is at  7142 then 7087 to 7072 and 7002 to 6992
Resistance is at  7242 to 7257 and 7327 to 7342

Recommended open spread position
Long 4 June Hogs 7037 /  Short 4 Dec Hogs 6957 avg

February Pork Bellies
Recommended open position short at 9922
Resistance should appear near 10317 to 10377 and 10467
Support is at 10137 to 10102 then 10037 to 10022 and 9942 to 9937
                             --Stay tuned for BW updates and Flashes in the Livestock complex –

                                  The Grande’ Grains

December Corn
Support should appear near 195 1/4 to 194 3/4 
Resistance is at 199 3/4 and 203 ½ to 204 ¼ 

January Soybeans
Support is at 499 1/2 to 497 1/4 then 492 1/4 to 4911/2 and 485 3/4 to 484 1/2 
Resistance is at 505 3/4 to 506 3/4 then 512 3/4 to 513 3/4 and 520 to 521 1/4
December Soymeal
Support should appear near 145.9 to 145.3 and 142.1 to 141.5
Resistance should appear near 148.4 to 149.6 then152.9 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
Resistance should appear near 2034 to 2042 and 2080 to 2088  
Support should appear near 1996 to 1982 and 1909 to 1902
December CBOT Wheat
Recommended open Position Long 306 1/4
Support should appear near 304 1/2 to 303 3/4 and 299 to 297 1/4 
Resistance should appear near 309 1/4 to 310 1/4 and 314 3/4 to 315 3/4  

                         
                                   The Satisfying Softs
December Coffee 
Recommended open Position long at 7860
Support is near 7775 to 7760 then 7690 to 7675 and 7605 to 7585
Resistance should appear near 7835 to 7865 then 7935 to 7955 and 8025 to 8045 

December Cocoa 
Resistance is at 1642 to 1655 then1689 to 1696 and 1731 to 1738
Support is at 1609 to 1615 then 1576 to 1569 and 1535 to 1529 

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

December Cotton
Support should appear near 4315 to 4305 and 4185 to 4165 
Resistance should appear near 4425 to 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

Sunday November 7th,  2004
5:25 AM 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 2  December Swiss Franc 8287
Long Dec mini Nasdaq 1498.5
Long Dec mini Russell 595.8
Short Dec Gold 421
Short Dec Hogs 6907
Short Feb Hogs 7072 
Short Feb Bellies 9922 
Short Dec Cattle 8375
Short Feb Cattle 8590
Long 4 June Hogs/ Short 4 Dec Hogs  +80
Long Dec Wheat 306 1/4 
Long Dec Coffee 7860 

                                                                          Terms