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Morning Comments Thursday December 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
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Wed Dec 1st 2004
2:30 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near 10580 to 10630 and 10680
Support should appear near 10470 and 10360 to 10320
Dec SP500
Recommended open position long 2 at 1181.50
Resistance should appear near 1192.00 to 1203.00 and 1217.5
Support should appear near 1180.5 and the 1169.00 to 1164.00 region.
Stay tuned for Flashes and Updates
March SP500
Resistance should appear near 1192 to 1197.50
Support should appear near 1169.00 to 1164.00.. BW Traders can buy at 1169.30 for a good bounce. Below that buyers should appear near 1150.00. BW Traders can buy at 1150.20 and hold for higher prices..
BW Traders should go long if a close over 1197.50 occurs
Nasdaq Composite
Support should appear near 2089 to 2088
Resistance should appear near 2134 and 2170 to 2185
Dec Mini Nasdaq 100
Recommended open position long at 1582.5
Resistance is at1609 to 1615 and 1642 to 1655
Support is at 1592.5 and 1576 to 1569 .
.BW Traders can buy at 1553 and risk a close under 1522 for three days in a row. …
BW Traders should go long if a close over 1593 occurs
Dec Mini Russell 2000
Recommended open position long 635.7
Support is at 643 to 641.7 and 635 to 633.7
Resistance is at 648.3 to 650.9
March 10 Year T-Note
Resistance should appear near 110-22 and 111-07
Support is at 110-07 and 109-22
The Frenzied Forex Front
March Yen
Resistance should appear near 9821 to 9837 and the 9921 to 9937 region.
Support should appear near 9737 to 9706 and the 9641 to 9625 region,
March Euro Currency (EC)
Support should appear at 13220 and 13100 to 13030
Resistance should appear near 13340 to 13460 and the 13770 to 13830 region
March Swiss Franc
Resistance should appear near 8856 to 8871 and 8934 to 8964.
Support should appear near 8777 to 8762 and 8683 to 8668.
March British Pound
Support should appear near 19090 to 19020
Resistance should appear near the 19460 to 19530.
March Canadian Dollar
Support should appear near 8406 to 8391, below that buyers should appear near 8314 to 8300
Resistance is at 8484 to 8499 and 8560 to 8589.
March Aussie Dollar
Support should appear near 7689 to 7675 and 7601 to 7587
Resistance should appear at 7763 to 7777
Precious Metals
February Gold
Resistance should appear at 457.1 to 458.2 and 463.9 to 465.0
Support is at 451.4 to 450.3 and 444.6 to 442.5
March Copper
Support should appear near 142.1 to 141.5 and the 138.3 to 137.7 region.
Resistance should appear near the 145.3 to 145.9 and the 148.4 to 149.6 region.
March Silver
Support should appear 795.5 to 793.5 and 786.5 to 783.5
Resistance is at 812 to 813.5 and 830 to 831.5
The Exciting Energies
Jan Crude Oil
Resistance should appear near 4514 to 4503 and 4446 to 4425 and 4381 to 4370
Support should appear near 4571 to 4582 and 4639 to 4650 .. beyond that 4695 to 4717 should cap a rally
Jan Unleaded Gas
Resistance should appear near 12320 to 12380 and 12680 to 12740
Support should appear near 11920 then 11690 to 16640 and 11360 to 11300
Jan Heating Oil
Resistance should appear near 13340 to 13460 and 13770 to 13830
Support should appear near 13100 to 1304 and 12740 to 12680
The Lively Livestock
February Cattle
Recommended open position short 3 at 8697 avg
Support should appear near 8872 to 8857 and the 8777 to 8762 region. .
Resistance is at 8937 to 8967 and 9042 to 9062
February Hogs
Recommended open position short at 7352 avg
Support is at 7512 to 7487 and 7432 to 7417
Resistance should appear near 7602 and 7672 to 7692
February Pork Bellies
Recommended open position Short 10090
Resistance should appear near 10022 to 10037 and 10107 to 10137 region.
Support is at 9937 to 9922 and 9837 to 9822
The Grande’ Grains
March Corn
Support should appear near 199 3/4 to 198 1/4
Resistance is at 203 1/2 to 204 1/4 then 208 to 208 3/4 and 212 3/4 to 213 1/2
BW Traders can sell at 212 1/4 and risk a close over 218 3/4 for three days in a row.
January Soybeans
Recommended open position short at 528
Support is at 525 3/4 then 521 1/4 to 520 and 513 3/4 to 512 3/4
Resistance is at 534 1/2 to 535 3/4 and 541 3/4 to 543
BW Traders should go short if a close under 533 3/4 occurs.
January Soymeal
Recommended open position short 158.2
Support should appear near 153.5 to 152.9 and 149.6 to 148.4
Resistance should appear near 156.9 to 157.6 and 160.9 to 161.5
January Soybean Oil
Recommended open position short 2049
Resistance should appear near 2080 to 2089 and 2126 to 2134
Support should appear near 2042 to 2034 and 1996 to 1982
March CBOT Wheat
Support should appear near 297 1/4 Below that buyers should appear near 288 3/4 to 287 1/2
and the 282 ¾ to 282 region. BW Traders can buy at 283 1/4 for a bounce and risk a close under 274 3/4 for three days in a row.
Resistance should appear near 303 3/4 to 304 1/2 and 309 1/4 to 310 1/4
The Satisfying Softs
March Coffee
Recommended open position long 2 at 9600 avg
Support is near 9735 to 9705 and 9645 to 9625 ..under that 9545 to 9525 should hold
Resistance should appear near 9920 to 9935 and the 10105 to 10135 region.
March Cocoa
Support is at 1655 to 1642 and 1615 to1609
Resistance is at 1689 to 1696 and 1731 to 1738
March Sugar
Support should appear near 882 to 877 and 852 to 847
Resistance should appear near 907 to 912 and 932 to 941.
March Cotton
Recommended open position short at 4370
Support should appear near 4380 to 4370 then 4315 to 4305 and 4250 to 4235
Resistance should appear near 4425 to 4445 and 4505 to 4515
BW Traders should go short if a close under 4235 occurs.
- 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 December 1st, 2004
3:20 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 Terms
Recommended Open Positions
Long Dec SP500 at 1181.50
Long Dec mini Nasdaq 1582.5
Long Dec mini Russell 635.7
Short 3 Feb Cattle 8697 avg
Short 2 Feb Hogs 7352 avg
Short Feb Bellies 10090
Short January Soybeans 528
Short January Soymeal 158.2
Short January Soybean Oil 2049
Long 2 March Coffee 9600 avg
Short March Cotton at 4370