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Morning Comments Thursday Feb 17th, 2005
Serving
Professional and Individual Traders World Wide since 1988
7690 Rockport Circle , Lake Worth , Florida
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Wed Feb 16th 2005
3:30 PM Eastern time
Resistance should appear near the 10960 to 11010 region
Support should appear near 10820 and 10757.. Below that 10680 to 10630 offers support.
March SP500
Resistance should appear near 1217.50 an extended trade over augurs for a test of 1232 to 1238.
Support should appear near the 1203.00 to 1196.00 ands 1192.00 BW Traders can buy at 1203.1 for a bounce and hold for higher prices .. Below that Buyers should appear near 1180.5 and the 1169.00 to 1164.00 region BW Traders can buy at 1180.5 and risk a close under 1171.90 for three days in a row..
Nasdaq Composite
Support should appear near 2080 and 2061
Resistance should appear near 2089 and 2126 to 2134
March Mini Nasdaq 100
Resistance is at 1569 to 1576, beyond that a test of 1609 to 1615 is likely.
Support is at 1535 to 1529 and the 1496 to 1484 region.
March Mini Russell 2000
Recommended open position long at 635.5
Support is at 635 to 633.7 and 627 to 625.7
Resistance is at 641.7 to 643 and the 648.30 to 650.9 region.
Resistance should appear near 112 -07 and 112-22.
Support is at 111-22., a close under augurs for a test of 111-07 and 110-22
The Frenzied Forex Front
March Yen
Resistance should appear near 9526 to 9542
Support should appear near 9445 to 9429
Aggressive BW Traders should go short if a close under 9427 occurs
March Euro Currency (EC)
Recommended open position Short at 13027
Support should appear at the 12740 to 12680 region..
Resistance should appear near 13030 to 13100.
BW Traders should go short if a close under 12890 occurs
March Swiss Franc
Recommended open position Short at 8389
Resistance should appear near 8484 to 8499
Support should appear near 8406 to 8391
March British Pound
Support should appear near 18650 to 18580
Resistance should appear near 19020 to 19090
March Canadian Dollar
Recommended open position short at 8117
Support should appear near 8044 to 8029
Resistance is at 8119 to 8134.
BW Traders should go short if a close under 8026 occurs.
March Aussie Dollar
Resistance should appear near 7836 to 7864
Support should appear at 7777 to 7763 .
Precious Metals
April Gold
Resistance
BW Traders can sell at 436.9 and risk a close over 439.5 for three days in a row
Support is at 424.9 to 423.8 and 418.3 to 416.3
Aggressive BW Traders should go short if a close under 415.9 occurs..
Support
Resistance should appear near 14530 to 14590 and 14840 to 14960
BW Traders should go short if a close under 13740 occurs
May Silver
Support should appear near 717 to 714.0 and 700.5 to 699
Resistance
is at 732.5 to 734.5 and 748.5 to 751.5
The Exciting Energies
April Crude Oil
Resistance should appear near 4973 to 4995 and 5056 to 5067
Support should appear near 4856 to 4845 and 4785 to 4775
March Unleaded Gas
Resistance should appear near 13040 to 13100
Support should appear near 1274 to 12680
March Heating Oil
Resistance should appear 13460 and 13770 to 13830
Support should appear near the 13100 to 13040 region.
The Lively Livestock
April Cattle
Support
Resistance is at 8777 and 8857 to 8872
BW Traders should go short if a close under 8662 occurs
April Hogs
Recommended open position short at 7340
Support is should appear near 7342 to 7327 and 7257 to 7242
Resistance should appear near 7417 to 7427 and the 7487 to 7512 region
BW Traders should go short if a close under 7232 occurs
June Hogs
Support is at 7777 to 7762 and 7687 to 7672
Resistance should appear near 7837 to 7862 and 7937 to 7957 .
March Pork Bellies
Resistance should appear near 8667 to 8682 and 8762 to 8777.. Beyond that sellers
should appear near 8857 to 8872
Support is at 8592 to 8562 then 8407 to 8392 and 8317 to 8302
The Grande’ Grains
May Soybeans
Recommended open position long 535 1/2
Support is 528 1./2 to 525 3/4 and 521 1/4 to 520.. Below that buyers should appear near
513 3/4 to 512 3/4 BW Traders can buy at 514 1/4 for a bounce and hold for higher prices.. ...
Resistance is at
541 3/4 to 543 and 549 1/2 to 550 1/2
May Soymeal
Recommended open position long 160.8
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.
May Soybean Oil
Recommended open position Long at 1997
Resistance should appear near 1984 to 1996 and 2034 to 2042
Support should appear near 1953 to 1946 and 1909 to 1902
BW Traders should go long if a close over 2044 occurs
May Corn
Support should appear 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.
May CBOT Wheat
Recommended open position long 309 1/4
Support should appear near 299 to 297 1/4 and 293 3/4 to 292 3/4
Resistance should appear near 303 3/4 to 304 1/2 and 309 1/4 to 310 1/2
The Satisfying Softs
March ‘The Monster’ Coffee
Support
Resistance should appear near 11920 to 12030 and the 12320 to 12380 region
May Coffee
Recommended open position Long 4 at 11205 avg
Support is near 11920 and 11690 to 11640 below that buyers should appear near 11500
Resistance should appear near the 12320 to 12380 region.. Beyond that a test of 12680 to 12740 is likely
May Cocoa
Recommended open position short at 1569
Support is at 1576 to 1569 and 1535 to 1529
Resistance is at 1609 to 1615 and 1642 to 1655
BW Traders should go short if a close under 1527 occurs..
May Sugar
Support should appear near and 912 to 907..
BW Traders can buy at 914 and risk a close under 905 for three days in a row.
Resistance should appear near 932 to 941
May Cotton
Recommended open position long at 4685
Support should appear near 4650 to 4635 then 4585 to 4570 and 4515 to 4505 ..BW Traders can buy at 4525 and risk a close under 4365 for three days in a row..
Resistance should appear near 4695 to 4715 then 4775 to 4785 and the 4845 to 4855 region.
- 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 Feb 16th 2005
4:35 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.
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BW Recommended Open
Positions
Long March Mini Nasdaq 1535.5
Long March Mini Russell 635.5
Short March EC 13027
Short March Swiss Francs 8389
Short March Canadian Dollars 8117
Short April Hogs 7340
Spread : Short 2 April Hogs 7255 / Long 2 July Hogs 7320
Long May Soybeans 535 1/2
Long May Soybean Meal 160.8
Long May Bean Oil 1997
Long May Wheat 309 1/4
Long 4 May Coffee 11205 avg
Short May Cocoa 1569
Long May Cotton 4685