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FuturesCom Investment Publications
Morning Comments  Thursday November 18th 2004
 Serving Professional and Individual Traders World Wide since 1988
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Wed  November 17th,  2004
2:30 PM  Eastern time   

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 1192 to 1203.00 region
Support should appear near 1180.5 and 1169.00 to 1164.00..  BW Traders can buy at 1174.80 for a good bounce . BW Traders should go long if a close over 1203 occurs.

Nasdaq Composite
Support should appear near 2088 to 2080
Resistance should appear near 2126 to 2134  . 

Dec Mini Nasdaq 100
Recommended open position long at 1498.5
Resistance is at 1576 and 1609 to 1615  
Support is at 1552 and 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 619 to 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 625.7 to 627.and 633.7 to 635
BW Traders should go long if a close over 627.2 occurs

December 10 Year T-Note
Resistance should appear near 113-07 and 113-22.
Support is at 112-2 and 112-07

                                The Frenzied Forex Front
Dec Yen
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)
Recommended open position short 13039
Support should appear at 12890 and 12740 to 12680.
Resistance should appear near the 13040 to 13150  region. 

Dec Swiss Franc
Resistance should appear near 8667 to 8682
Support should appear near 8589 to 8560 

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 7777 to 7762  
Resistance should appear at 7835 to 7865

Precious Metals

December Gold
Resistance should appear at 450.3 to 451.4
Support is at  442.5 and 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 4650 to 4639 and 4582 to 4571  
Resistance  should appear near 4717 and 4775 to 4785

Jan Unleaded Gas 
Recommended open position Short  2 at 12565 avg 
Resistance should appear near 12680 to 12740..  Beyond that resistance should appear near 
13040 to 131.50 , which should cap a rally. BW Traders can sell at 13040 and risk a close over 131.70 for three days in a row.
Support should appear near 12530 then 12380 to  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 8682 to 8667 and 8592 to 8567
Resistance is at 8762 to 8777 and 8857 to 8872 

February Cattle
Recommended open position short 2 at 8672
Support should appear near 8872 to 8857 and 8777 to 8762 
Resistance is at the  9042 to 9062 region and 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  7257 to 7242 and 7172 to 7142
Resistance is 7327 to 7342 and 7412 to 7427 

February Pork Bellies
Recommended open position Short 2 at  10007 avg
Resistance should appear near 10022 to 10037 and 10107 to 10137 
Support is at  9937 to 9922 and 9737 to 9707

                                        The Grande’ Grains

December Corn
 Recommended open position short at 207 3/4 
Support should appear near 204 1/4 to 203 1/2  and 199 3/4 to 198 1/4
Resistance is at 208 to 208 3/4 and 212 3/4 to 213 1/2 .

January Soybeans
Recommended open position short at 541 3/4
Support is at 543 to 541 3/4 and 535 3/4 to 534 1/2  
Resistance is at  555 1/4 to 557 3/4 and 564 to 565 1/4 
BW Traders should go short if a close under 524 ¾ occurs.

December Soymeal
Recommended open position Short at 156.9
Support should appear near 157.6 to 156.9 and 153.4 to 152.9
Resistance should appear near 156.9 to 157.6..Beyond that sellers should appear near 160.9 to 161.5 

December Soybean Oil
Resistance should appear near 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 2134 to 2126 and 2088 to 2080 
BW Traders should go Short if a close under 2077 occurs

 December CBOT Wheat
Resistance should appear near 319 1/2 to 321 1/4 and 326 1/4 to 327 
Support should appear near 315 3/4 to 314 3/4 and 310 1/4 to 309 1/4  

 

                                      The Satisfying Softs
March Coffee 
Recommended open Position Long at 9450
Support is near 9060 to 9040 and 8965 to 8935 
Resistance should appear near 9315 to 9345 and 9705 to 9735 

March Cocoa 
Support is at 1609 and 1576 to 1569
Resistance is at  1642 to 1655 and 1689 to 1696

March Sugar
Recommended open position short at 876
Support should appear near 852 to 847 
Resistance should appear near 877 to 882 and 907 to 912 

March Cotton
Support should appear near 4185 to 4165 and 4120 to 4110 .
Resistance should appear near 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

Wed  November 17th,  2004
3:30 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 SP500 1179.50 
Long Dec mini Nasdaq 1498.5
Long Dec mini Russell 595.8
Short Dec EC 13039
Short 2 Jan Unleaded Gas 12565 avg 
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 December Corn 207 3/4 
Short Jan Soybeans 541 3/4
Short December Soymeal 1.5690
Long March Coffee 9450
Short March sugar 876

 


 

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