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Morning Comments Wed March 2nd , 2005
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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 2061 and 2042.00 to 2034.00
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)
Recommended open position short at 13218
Support should appear at 13165 and the 13100 to 13040 region
Resistance should appear near 13280 and 13340 to 13460. BW Traders can sell at 13337 and risk a close over 13472 for three days in row..
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 19090 to 19020 and 18836
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 8119 to 8134 and 8194 to 8223.
BW Traders should go short if a close under 8026 occurs
June Aussie Dollar
Resistance should appear near 7836 to 7864.
Support should appear at 7777 to 7763
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 near14590 to 14530
Resistance should appear near 14840 to 14960
May Silver
Support should appear near 717.0 to 714.5 and 700.5 to 699.0
Resistance is at 732.5 to 734.5 and 748.5 to 751.5.
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 and 13460 to 13340
April Heating Oil
Resistance should appear 14840 to 14960 and the 15290 to 15350 region
Support should appear near 14590 to 14530 and 14210 to 14150
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 7512 to 7587 and the 7427 to 7412 region
Resistance should appear near
7587 to 7602 and 7672 to 7692
BW Traders should go Short if a close under 7412 occurs
June Hogs
Support is at 8047 to 8027 and 7957 to 7937
Resistance should appear near 8117 to 8132 and 8192 to 8227
May Pork Bellies
Resistance should appear near 9142 to 9157 and the 9317 to 9347 region.. BW Traders can sell at 9312 and risk a close over 9557 for three days in a row .
Support is at 9062 to 9042 and the 8967 to 8932 region.
BW Traders should go short if a close under 8757 occurs.
The Grande’ Grains
May Soybeans
Support is 611 1/4 to 610 1/4 and the 603 1/2 to 602 1/4 region
Resistance should appear near 616 1/2 to 619 and 625 3/4 to 627
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 2315 to 2322 and the 2354 to 2370 region.
Support should appear near 2275 to 2267and 2226 to 2219
May Corn
Support should appear near 218 1/2 to 217 and the 213 1/2 to 212 3/4 region.
Resistance is at 221 3/4 to 222 3/4 and the 226 3/4 to 227 1/2 region.
May CBOT Wheat
Resistance should appear near 342 1/2 to 344 1/4 and the 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 337 3/4 and the 332 3/4 to 331 3/4 region. Below that a test of the
327 to 326 1/4 region is likely.
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 1738 to 1731 and 1696 to 1689
Resistance is at 1774 to 1780 and 1808 to 1822
May Sugar
Recommended Open Position Long at 906
Support should appear near 882 to 877
Resistance should appear near 907 to 912.
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.
Resistance should appear near 5125 to 5140 and the 5200 to 5210 region. Beyond that sellers should appear near 5345 to 5355
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
Tuesday March 1st , 2005
3:00 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
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 June EC 13218
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