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Morning Comments Wed Feb 2nd , 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
- Intl : 1- 561-433-2995 http://www.futurescom.com
Tuesday Feb 1st 2005
7:45 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 the10360 to 10320 region..
March SP500
Recommended open position long at 3 at 1182 .40 avg
Resistance should appear near 1192.00 to 1203.00
Support should appear near 1186.7 and 1180.50, below that 1169.00 to 1164.00 should hold.
Nasdaq
Composite
Support should appear near 2061.00 and 2042.00 to 2034.00
Resistance should appear near 2080.00 to 2088.00
March
Mini Nasdaq 100
Recommended open position long at 1577
Resistance is at 1535 and 1569 to 1576
Support is at 1496 to 1484 and the 1459 to 1453 region
March Mini Russell 2000
Recommended
open position long at 623.9
Support is at 627.00 to 625.70 and 619.0 to 616.5. Below that BW Traders can buy at 611.4 for a bounce and risk a close under 600.9 for three
days in a row.
Resistance is at the 633.70 to 635.00 region Beyond that sellers should appear at 641.70 to 643.00
March 10 Year T-Note
Resistance should
appear near 112-22 and 113-07, which should cap a rally..
Support is
at 112-07 and 111-22
The Frenzied Forex Front
March Yen
Recommended open position short 2 at 9658 avg
Resistance should appear near 9706 to 9737and 9821 to 9837
Support
should appear near 9641 to 9625 and 9542 to 9526..
March
Euro Currency (EC)
Recommended open position short 13037
Support should appear at 13040 and 12890 , a close under augurs for a
test of 12740 to 12680.
Resistance should appear near 13100 and 13220, beyond that sellers should
appear near 13340 to 13460
BW Traders should go short if a close under 12890 occurs
March
Swiss Franc
Recommended open position Short 8501
Resistance should appear near 8484 to 8499 and the 8560 to 8589 region
Support should appear near 8406 to
8391, a close under augurs for a test of 8314 to 8300..
BW Traders should go short if a close under 8387 occurs
March
British Pound
Recommended open position Short 18576
Support should
appear near 18650 to 18580 and 18220 to 18080
Resistance should appear near
18876 and 19020 to 19090
March Canadian Dollar
Recommended open position short at 8117
Support should appear near 8044
to 8029 and 7954 to 7939
Resistance is at 8119 to 8134 and the
8194 to 8223 region.
BW Traders should go short if a close under 8026 occurs.
March
Aussie Dollar
Recommended open position short at 7532
Resistance should appear near 7763 to 7777
Support should appear at 7689
to 7675.
Precious Metals
April Gold
Resistance should appear at 423.8 to 424.9 and 430.4 to 431.5.
BW Traders can sell at 430.3 and risk a close over 439.5 for three days in a row
Support is at 418.3 to 416.3
March Copper
Recommended open position 14140
Support should appear near 14150 and 13830 to 13770
Resistance should appear near 14210 and the 14530 to 14590 region.
BW Traders should go short if a close under 13740 occurs
March Silver
Support should appear near 667.5 to 665.5 and the 650.5 to 648.0 region
Resistance should appear near 674.5 to 675.5 and 681 to 683.5
The
Exciting Energies
March Crude Oil
Resistance should appear
near 4775 to 4785 and 4845 to 4856
Support should appear near the 4639 to 4650 region and 4582 to 4571
March Unleaded Gas
Recommended open position short at 12830
Resistance should appear near 13340 to 13460
and the 13770 to 13830 region , which should cap a rally.
Support should appear near 13100 to
13040 and 12740 to 12680
March Heating Oil
Resistance should appear 13340 to 13460 and the 13770 to 13830 region.
Support should appear near 13100 to 13040 and the 12740 to 12680
region..
The Lively Livestock
April Cattle
Support should appear near 8777 to 8762 and 8682 to 8667 ..
Resistance is at 8857 to 8872 and 8937 to 8967.
BW Traders should go short if a
close under 8662 occurs
April
Hogs
Recommended open Position Short 7552
Spread : Short 2
April / Long 2 July Hogs
+120
Support should appear near 7487 and 7427 to 7412.. A slip under augurs for a test of
the 7342 to 7327 region.
Resistance should appear near 7587 to 7602
and the 7672 to 7687 region.
BW Traders should go short if a close under 7482 occurs
March Pork Bellies
Recommended open Position Short 9505
Resistance should appear near
9522 to 9542 and 9627 to 9642 .
Support is at 9447 to 9427...A close
under is negative and augurs for a test of 9347 to 9317
The Grande’ Grains
March Corn
Support should appear 195 1/4 to 194 3/4 and 190 3/4 to 190 1/4
Resistance is at 198 1/4 to 199 3/4 and 203 1/2 to 204 1/4.
March Soybeans
Support is should appear near 506 3/4 to 505 3/4. . Below that slip towards 499 1/2 to 497 1/2
and the 492 3/4 to 491 1/2 region is likely.. Under that buyers should appear near 485 3/4 to 484 1/2
BW Traders can buy at 485 1/4 for a good bounce .. risk a close under 476 3/4 for three days in a row
Resistance is at 512 3/4 to 513 3/4 and 520 to 521 1/4 .
March
Soymeal
Support should appear near the 149.6 to 148.4 region .Below that buyers should appear near 145.9 to 145.3 BW Traders can buy at 146.1 and hold for higher prices
Resistance should appear near 152.9 to 153.5 and 156.9 to 157.6
March
Soybean Oil
Resistance should appear near 1946 to 1953 and 2034 to 2042
Support
should appear near 1902. Below that buyers should appear near 1865 to
1858
BW Traders can buy at 1867 for a bounce and risk a close under 1802 for three
days in a row..
March
CBOT Wheat
Support should appear near 288 1/2 to 287 1/2 and the 282 3/4 to 282 region..
BW Traders can buy at 282 3/4 for a turn higher , risk a close under 275 1/4 for
three days in a row.
Resistance should appear near 292 3/4 to 293 3/4 and the 297 1/4 to 299 region.
The Satisfying Softs
March
‘The Monster’ Coffee
Recommended open position Long 2 at 10410 avg
Support is near 10470 and 10360 to 10320 below that buyers should appear near 10185
Resistance should appear near 10630 to 10680. .. An extended trade over is
friendly and augurs for a test of 10960 to 11010. BW Traders should go long if a close over 10690 occurs.
May
Coffee
Recommended open position Long at 10685
Support is near 10680 to 10580.. Below that buyers should appear near 10360
to 10320 and 10185 .. Which should
contain a decline.. BW Traders should buy at 10190
and risk a close under 9805 for three
days in a row.
Resistance should appear near 10960 to 11010 and 11300 to 11360
BW Traders should go long if a close over 10835 occurs.
May
Cocoa
Support is at 1535 to 1529 and 1496 to 1484 region..
Resistance is at 1569 to
1576.. Beyond that sellers should appear near 1609 to 1615
BW Traders can sell
at 1608 and risk a close over 1659 for three days in a row..
BW Traders should go short if a close under 1527 occurs..
May
Sugar
Recommended open position Short at 954
Support should appear near 932 and 912 to 907
Resistance should appear near 968 to 972 and 1000 to 1005
March
Cotton
Recommended open position Long 2 at 4595 avg
Support should appear
near 4315 to 4305 and 4185 to 4160..
Resistance should appear near 4425 to 445 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
Tuesday Feb 1st 2005
8:15 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
BW Recommended Open
Positions
Long 3 March SP500 1182.40 avg
Long March Mini Nasdaq 1577
Long March Mini Russell 623.90
Short 2 March Yen 9658 avg
Short March EC 13037
Short March Swiss Francs 8501
Short March British Pounds 18576
Short March Canadian Dollars 8119
Short March Aussie Dollars 7532
Short March Unleaded Gas 12830
Short April Hogs7552
Spread : Short 2 April Hogs / Long 2 July Hogs -120
Short March Bellies 9505
Long 2 March Coffee 10415 avg
Long May Coffee 10685
Short May Sugar 954
Long 2 March Cotton 4595 avg