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Morning Comments Thursday January 13th 2005
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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“A lot of people approach risk as if it’s the enemy, when it’s really fortunes accomplice.”
Wed January 12th 2005
7:00 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance
should appear near 10630 to 10680..
A close over is friendly and augurs for a test of 10820.
Support should appear near 10580 and 10525 to 10470
March SP500
Recommended open position long at 1203.00
Resistance should appear near 1192.00 and 1197.50 to1203.00
Support should appear near 1180.50 and the 1169.00 to 1164.00 region
BW traders can buy at 1169.30 and plan on risking a close under 1161.00 for three days in a row
BW Traders should go long if a close over 1197.70 occurs
Nasdaq Composite
Support should appear near 2088to 2080
Resistance should appear near 2126 to 2134.
March Mini Nasdaq 100
Recommended open position long at 1577
Resistance is at 1576 and the 1609 to 1615 region
Support is at 1569 and 1535 to 1529.
BW Traders should go long if a close over 1593 occurs
March Mini Russell 2000
Recommended open position Long at 620
Support
is at 611.3 to 610.1 and 595.7 to 594
Resistance is at 616.5 to 619.0 and 633.7 to 635
March 10 Year T-Note
Resistance should appear near 111-22 and 112-07.Beyond that sellers should appear near 112-22
Support is at 111-07 and 110-22 Below that support should appear near 110-07
The Frenzied Forex Front
March Yen
Recommended open position Short at 9610
Resistance should appear near 9821 to 9837
Support should appear near 9737 to 9706
March Euro Currency (EC)
Support should appear at 13220 and 13100 to 13040
Resistance should appear near 13340 to 13460
March Swiss Franc
Resistance should appear near 8668 to 8683
Support should appear near 8589to 8560.
March British Pound
Support
should appear near
18650
to18580
Resistance should appear near
18876 and 19020 to 19090
March Canadian Dollar
Recommended open position short at 8187
Support should appear near 8314
to 8300
Resistance is at 8390 to 8406
March Aussie Dollar
Support
should appear near 7601 to 7587
Resistance should appear at 7675 to 7689
Precious Metals
February Gold
Resistance should appear at 430.4 to 431.5
Support is at 424.9 to 423.8
March Copper
Support should appear near 13830 to13770
Resistance should appear near 14150 to 14210
March Silver
Support should appear near 667.5 to 665.5 and 659.5 to 657.5
Resistance
is at 674 to 675.5 and 680.5 to 683.5
The Exciting Energies
Feb Crude Oil
Resistance should appear near
4695 to 4717
Support should appear near
4582 to 4571
Feb Unleaded Gas
Resistance should appear near 12320 to 12380 and 12680 to 12740
Support should appear near 12030 to 11920 and 11690 to 11640.
Feb Heating Oil
Resistance should appear near 13040 to 13100 and
13340 13460
Support should appear near 12740 to 12680 and 12380 to 12320
The Lively Livestock
February Cattle
Support should appear near 9157 to 9142 and 8967 to 8932
Resistance is at 9317 to 9347 and 9427 to 9447
February Hogs
Recommended open position short at 7575
Short 2 Feb / Long 2 June Hogs -195
Support is 7512 to 7487 and the 7427 to 7412 region.
Resistance should appear near 7587 to 7602 and the 7672 to 7692
February Pork Bellies
Recommended open position short at 9622
Resistance should appear near 9622 to 9642 and 9707 to 9737
Support is at 9542 to
9527and 9447 to 9427.. Below that a test of 9347 to 9312 is likely.
BW Traders should go short if a lose under 9312 occurs.
The Grande’ Grains
March Corn
Recommended open position long at 209 1/4
Support should appear near 199 3/4 to 198 1/4
Resistance is at 203 1/2 to 204 1/4
March Soybeans
Support is at 528
1/4 to 525 1/2 and 5211/4 to 520.
Resistance is at 534 1/2 to 535 3/4 and 541 3/4 to 543
March Soymeal
Support should appear near 161.5 to 160.9 and 157.6 to 156.9
Resistance should appear near 164.2 to 165.5 and 168.9 to 169.6
BW Traders can sell at 168.8 for a turn lower and risk a close over 174.1 for three days in row.
March Soybean Oil
Resistance
should appear near 1982 to 1996 and 2034 to2042
Support should appear near
1953 to1946 and 1909 to 1902
March CBOT Wheat
Recommended open position long 304 3/4
Support should appear near 304 1/2 to 303 3/4 and 299 to 297 1/4
Resistance should appear near 314 3/4 to 315 3/4 and 219 1/2 to 321 1/4
BW Traders should go long if a close over 310 3/4 occurs
The Satisfying Softs
March ‘The Monster’ Coffee
Recommended open position long 2 at 10150 avg
Support is near 9835 to 9820 then 9735 to 9705.and the 9645 to 9625
region.
Resistance should appear near 10020 to 10035 and 10105 to 10135 ... Beyond
that a test of 10320 to 10360 is likely
.
March Cocoa
Support
is at the1459 to 1453 and 1421 to 1415
Resistance is at 1489 to 1496 and 1529 to 1535
March Sugar
Support
should appear near 852 to 847
Resistance should appear near 877 to 882
March Cotton
Support should appear
near 4585 to 4570 and 4515 to 4505
Resistance should appear near 4695 to 4715 and 4775 to 4785
- 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 January 12th, 2005
8:00 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 – 2005 all rights reserved Terms
Current BW Recommended Open Positions
Long March Mini Nasdaq 1577
Long March Mini Russell 620
Short March Yen 9610
Short March Canadian Dollar 8187
Short Feb Hogs 7575
Short 2 Feb / Long 2 June Hogs -195
Short Feb Bellies 9622
Long March Corn 209 1/4
Long March Wheat 304 3/4
Long 2 March Coffee 10150 avg