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FuturesCom Investment Publications
Morning Comments  Wed November 17th 2004
 Serving Professional and Individual Traders World Wide since 1988
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Open BW Positions

                                    The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near the 10580 to 10680 region. Beyond that a test of 10820 is likely
Support should appear near 10470 and 10360 to 10320, which should contain a decline…

Dec SP500
Resistance should appear near the 1180.5 and 1192 to 1203.00
Support should appear near 1169.00 to 1164.00..  BW Traders can buy at 1174.80 for a good bounce . Below that buyers should appear near 1150.00. BW  Traders can buy at 1150.20 for a good bounce and stay tuned for a stop.  BW Traders should go long if a close over 1203 occurs.

Nasdaq Composite
Support should appear near 2042 to 2034
Resistance should appear near 2080 to 2088  . 

Dec Mini Nasdaq 100
Recommended open position long at 1498.5
Resistance is at 1569 to 1576 
Support is at 1535 to 1529 
BW Traders should go long if a close over 1576.5 occurs.

Dec Mini Russell 2000
Recommended open position long at 598.5
Support is at 616.5 and 611.3 to 610.1  BW Traders can buy at 615.2  for a bounce, 
stay tuned for a stop and hold for higher prices.
Resistance is at 619 and 625.7 to 627.
BW Traders should go long if a close over 627.2 occurs

December 10 Year T-Note
Resistance should appear near 112-21 then 113-07 and 113-22.
Support is at 112-07 and 111-22 .. Below that a test of 111-07 is likely 

                                The Frenzied Forex Front
Dec Yen
Recommended open Position Short 2 at 9325 avg
Resistance should appear near 9526 to 9542 then 9625 to 9641 and the  9706 to 9737 region.
Support should appear near 9445 to 9429 and the 9347 to 9318 region,

Dec Euro Currency (EC)
Support should appear at 12740 to 12680.
Resistance should appear near the 13040 to 13100 region.  BW Traders can sell at 130.39 for a turn lower .
and risk a close over 13097 for three days in a row.

Dec Swiss Franc
Recommended open Position Short  2 at 8287 avg
Resistance should appear near 8560 to 8569 then 8667 to 8682 and 8762 to 8777
Support should appear near 8484 then 8406 to 8391 and 8314 to 8300

Dec British Pound
Support should appear near 18400 and 18220 to 18080
Resistance should appear near the 1.8580 to 1.8650 and 18832

Dec Canadian Dollar
Support should appear near 8314 to 8300 and 8223 to 8194
Resistance is at 8391 to 8406 and 8484 to 8499

Dec Aussie Dollar
Support should appear near 7689 to 7676 and 7601 to 7587 
Resistance should appear at  7763 to 7777.. Beyond that sellers should appear near 7835 to 7865

Precious Metals

December Gold
Resistance should appear at  442.5 to 444.6
Support is at  438.1 to 437 ..

Dec Copper
Support should appear near 134.6 to 133.4   
Resistance should appear near the 13770 to 13830 

Dec Silver
Support should appear   758.5 and 742.5 to 741.5 and 725.5 to 724.0 
Resistance is at  776.5 to 777.5 and 793.5 to 795.5

                              The Exciting Energies

Jan Crude Oil
Support should appear near 4582 to 4571 and 4514 to 4503 
Resistance  should appear near 4639 to 4650 and 4695 to 4717 

Jan Unleaded Gas 
Recommended open position Short 12460
Resistance should appear near 12680 to 12740..  Aggressive  BW Traders can sell at 12670 and hold for lower prices. Beyond that resistance should appear near 13040 to 131.50 , which should cap a rally.
Traders can sell at 13040 and risk a close over 131.70 for three days in a row.
Support should appear near  12320 and the 12030 to 11920 region

Jan Heating Oil
Resistance should appear near 13770 to 13830 and the141.50 to 14210 region. 
Support should appear near 13340 then 13150 to 13040 and 12740t o 12680

The Lively Livestock

December Cattle
Recommended open position Short at 8482
Support should appear near 8592 to 8567 and 8497 to 8482 .
Resistance is at 8667 to 8682. Beyond that sellers should appear near 8762 to 8777 and cap a rally for a bit. 

February Cattle
Recommended open position short 2 at 8672
Support should appear near 8777 to 8762 and 8682 to 8667 
Resistance is at the 8857 to 8872 region.. Beyond that 9042 to 9062 should cap a rally. 

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

December Hogs
Support is at  7432 to 7417 and 7342 to 7327 
Resistance is 7487 to 7512 and 7587 to 7602

February Hogs
Recommended open position short 3 at 7257 avg
Support is at  7327 and 7257 to 7242 
Resistance is 7412 to 7427 and 7487 to 7512.

February Pork Bellies
Recommended open position Short 2 at  10007 avg
Resistance should appear near 10107 to 10137 and 10322 to 10337
Support is at 10037 to 10022 and 9937 to 9922

                                        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 postion short at 541 3/4
Support is at 535 3/4 to 534 1/2 and 528 3/4 to 525 3/4 
Resistance is at  541 3/4 to 543 and 549 1/4 to 550 1/2 
BW Traders should go short if a close under 524 ¾ occurs.

December Soymeal
Support should appear near 153.4 to 152.9 and 149.6 to 148.4. 
Resistance should appear near 156.9 to 157.6..Beyond that sellers should appear near 160.9 to 161.5 and the 164.2 to 165.5 region..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 2126 to 2134 then 2170 to 2185 and 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 and 2042 to 2034
BW Traders should go Short if a close under 2077 occurs

December CBOT Wheat
Recommended open Position Long  306 1/4
Support should appear near 304 3/4 to 303 3/4
Resistance should appear near 314 3/4 to 315 3/4 

                                      The Satisfying Softs
March Coffee 
Recommended open Position Long at 9450
Support is near  8965 to 8935 and 8780 to 8765.    Below that buyers should appear near 8590 to 8560 Resistance should appear near 9040 to 9060 and 9140 to 9155 . Beyond that a test of 9315 to 9345 is likely. 

March Cocoa 
Support is at 1655 to 1642 and 1615 to 1609
Resistance is at 1689 to 1696 and 1731 to 1738 

March Sugar
Recommended open postion short at 876
Support should appear near 882 to 877
Resistance should appear near 907 to 912 

March Cotton
Support should appear near 4185 to 4165 and 4120 to 4110 .
Resistance should appear near 4235 to 4250 then  4305 to 4315 and 4425 to 4445. 
BW Traders can sell at 4415 and risk a close over 4535 for three days in row .

- A Ship in Harbor is Safe...But that is not what ships are built for –

-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

Tuesday November 16th,  2004
4:00 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
Long Dec mini Nasdaq 1498.5
Long Dec mini Russell 595.8
Short 2  Dec Yen 9325 avg
Short 2  December Swiss Franc 8287 avg
Short Jan Unleaded Gas 12460 
Short Dec Cattle 8482 
Short 2  Feb Cattle 8672 avg
Short 3 Feb Hogs 7257 avg   
Short 2  Feb Bellies 10007 avg  
Long 4 June Hogs/ Short 4 Dec Hogs  +80
Short Jan Soybeans 541 3/4
Long Dec Wheat 306 1/4 
Long March Coffee 9450
Short March sugar 876

                                                                          Terms