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Morning Comments Wed March 2nd , 2005
Serving
Professional and Individual Traders World Wide since 1988
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Tuesday March 1st , 2005
2:30 PM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance should appear near the 10960.00 to 11010.00 region
Support should appear near 10680.00 to 10630.00 and 10580.00.
March SP500
Recommended open position Long at 1203.1
Resistance should appear near 1217.50 and the 1232.00 to 1238.00 region
Support should appear near 1203 to 1197.50 and 1192.00.. Below that buyers should appear near 1180.5
BW Traders should go long if a close over 1217.60 occur.
Nasdaq Composite
Support should appear near 2042.00 to 2034.00 and then 1996.00 to 1982.00 region
Resistance should appear near the 2080.00 to 2089.00 region ..
March Mini Nasdaq 100
Recommended open position long at 1537.50
Resistance remains at 1529.00 to 1535.00 and 1569 to 1576
Support is at 1496.00 to 1484.00 and the 1459.00 to 1453.00 region
March Mini Russell 2000
Recommended open position long at 635.50
Support is at 635.00 to 633.70 and 627.00 to 625.70
Resistance is at the 641.70 to 643.00 region..
BW Traders should go long if a close over 643.10 occurs.
June 10 Year T-Note
Resistance should appear near 110-07 then 110-22 and 111-07
Support is at 109-22 and 109-07.. Below that buyers should appear near 108-22 and 108-07
The Frenzied Forex Front
June Yen
Recommended open position short at 9624
Resistance should appear near the 9706 to 9737 region
Support should appear near the 9641 to 9625
BW Traders should go short if a close under 9524 occurs
June Euro Currency (EC)
Support should appear at 13220 and the 13100 to 13040 region
Resistance should appear near 13340 to 13460 and 13615. BW Traders can sell at 13337 and risk a close over 13472 for three days in row.. BW Traders should go Short if a close under 13218 occurs
June Swiss Franc
Resistance should appear near 8667 to 8683.
Support should appear near 8589 to 8560
BW Traders should go short if a close under 8627 occurs
June British Pound
Support should appear near 19020 to 19020
Resistance should appear near 19276 and 19460 to 19530
BW Traders should go short if a close under 19018 occurs
June Canadian Dollar
Support should appear near 8044 to 8029 and 7954 to 7939 ..
Resistance is at 8134 and 8194 to 8223.
BW Traders should go short if a close under 8026 occurs
June Aussie Dollar
Resistance should appear near 7939 to 7954.
Support should appear at 7864 to 7836
BW Traders should go short if a close under 7761 occurs.
Precious Metals
April Gold
Recommended open position short at 436.9
Resistance should appear at 437 to 438.1 and 442.5 to 444.5
Support is at 431.5 to 430.4 and 424.9 to 423.8
BW Traders should go short if a close under 430.2 occurs
May Copper
Support should appear near 14840 and 14590 to 14530
Resistance should appear near 15290 to 153.50
May Silver
Support should appear near 734.0 to 732.5 and 717.0 to 714.5
Resistance is at 748.5 to 751.5 and 776.0 to 777.5..
The Exciting Energies
April Crude Oil
Resistance should appear near 5200 to 5210 and 5259 to 5282.. Beyond that sellers should appear near
5344 to 5356 and the 5553 to 5577 region
Support should appear near 5067 to 5056 and 4926 to 4915, a close under augurs for a test of 4856 to 4845 and the 4785 to 4775 region.
April Unleaded Gas
Resistance should appear 14150 to 14210 and 14530 to 14590
Support should appear near 13830 to 13770.
April Heating Oil
Resistance should appear 14590 and 14840 to 14960
Support should appear near 14210 to 14150. a slip under indicates a trade to 13830 to 13770.
April Cattle
Recommended open position short at 8545
Support should appear near 8592 to 8562 and 8502 to 8482.
Resistance is at 8667 to 8682 and 8762 to 8777.
BW Traders should go short if a close under 8477 occurs
April Hogs
Recommended open position short at 7340
Spread : Short 2 April Hogs 7255 / Long 2 July Hogs 7320
Support should appear near 7342 to 7327 and the 7257 to 7242 region
Resistance should appear near 7427 and 7487 to 7512 ..Beyond that sellers should appear near
7587 to 7602 ...BW Traders should go Short if a close under 7412 occurs
June Hogs
Support is at 7867 to 7837 and 7777 to 7762
Resistance should appear near 7937 to 7957 and 8027 to 8042
May Pork Bellies
Resistance should appear near 8967 and the 9042 to 9062 region.
Support is at 8872 to 8857 and 8777 to 8762
BW Traders should go short if a close under 8757 occurs.
The Grande’ Grains
May Soybeans
Support is 619 to 616 1/2 and 611 1/4 to 610 1/4
Resistance should appear near 625 3/4 to 627 and the 633 3/4 635 region.
May Soymeal
Support should appear near 182.2 to 180.8 and 178.0 to 177.4
Resistance should appear near 185.8 to 186.5 and 190.2 to 190.9
May Soybean Oil
Resistance should appear near 2354 to 2370 region. Beyond that sellers should appear near 2411 to 2419 and the 2461 to 2469 region.
Support should appear near 2322 to 2315 and 2275 to 2267
May Corn
Support should appear 218 1/2 to 217
Resistance is at 222 3/4 and the 226 3/4 to 227 1/2 region.
May CBOT Wheat
Resistance should appear near 349 1/2 to 350 1/4 region. Beyond that sellers should appear near 355 1/2 to 356 1/4 ..BW Traders can sell at 355 1/4 and risk a close over 363 1/4 for three days in a row.
Support should appear near 344 1/4 to 342 1/2 and 338 3/4 to 337 3/4
The Satisfying Softs
May 'The Monster' Coffee
Recommended open position Long 3 at 11675 avg
Support is near 12030 to 11920 and the 11690 to 11640 region.. Below that buyers should appear near 11360 to 11300 region.. BW Traders can buy at 11690 and risk a close under 11290 for three days in a row. Resistance should appear near 12320 to 12380 and the 12680 to 12740 region. Beyond that a test of 13040 to 13100 and the 13340 to 13460 region is likely.
May Cocoa
Support is at 1696 to 1689 and 1655 to 1642
Resistance is at 1731 to 1738 and 1774 to 1780
May Sugar
Recommended Open Position Long at 906
Support should appear near 912 to 907 and 882 to 877
Resistance should appear near 932 to 941. Beyond that 968 to 972 should cap a rally.
May Cotton
Support should appear near 5065 to 5055 and 4995 to 4975. Below that buyers should appear near 4855 to 4845 and the 4785 to 4775 region.. Which should contain a decline. BW Traders can buy at 4860 and risk a close under 4755 for three days in a row. U
Resistance should appear near the 5200 to 5210 region. Beyond that sellers should appear near 5345 to 5355 and the 5490 to 5505 region.
BW Traders should go long if a close over 5145 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
Monday Feb 28th 2005
2:30 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 March SP500 1203.1
Long March Mini Nasdaq 1535.5
Long March Mini Russell 635.5
Short June Yen 9624
Short April Gold 436.9
Short April Cattle 8545
Short April Hogs 7340
Spread : Short 2 April Hogs 7255 / Long 2 July Hogs 7320
Long 3 May Coffee 11675 avg
Long May Sugar 906