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Morning Comments Monday March 7th, 2005
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Professional and Individual Traders World Wide since 1988
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" We are what we repeatedly do. Excellence, then, is not an act, but a habit."
-Aristotle-
Saturday March 5th , 2005
6:00 AM Eastern time
The Sensational Stock and Bond Markets
Dow Jones Industrial Average
Resistance remains near10960.00 to 11010.00.. Beyond that sellers should appear near 11,155.00
Support should appear near 10890.00 and 10820.00.
March SP500
Recommended open position Long at 1224.3
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 1996 to 1982
Resistance should appear near 2080.00 to 2089.00 and 2126 to 2134
March Mini Nasdaq 100
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 645.00
Support is at 643.00 to 641.7 , below that 635.00 to 633.70 should contain a decline
Resistance is at the 648.30 to 650.90 region .. Beyond that sellers should appear near 648.3 to 650.9
June 10 Year T-Note
Resistance should appear near 110-07 and 110-22. Beyond that sellers should appear near
111-07 and 111-22
Support is at 109-22 and 109-07.. Below that buyers should appear near 108-22 then 108-07 and 107-22.
The Frenzied Forex Front
June Yen
Resistance
should appear near 9625 to 9641 and the 9706 to 9737 region
Support should appear near 9542 to 9526 and 9445 to 9429.
BW Traders should go short if a close under 9524 occurs
June Euro Currency (EC)
Support
should appear at the 13220 and the 13100 to 13040 region
Resistance should appear near 13340 to 13460 BW Traders can sell at 13337 and risk a close over 13472 for three days in row..
June Swiss Franc
Recommended open position short at 8567
Resistance should appear near 8667 to 8683.
Support should appear near 8589 to 8560..
June British Pound
Recommended open position short at 18973
Support should appear near 19090 to 19020
Resistance should appear near 19276 and 19460 to 19530
June Canadian Dollar
Support should appear near 8119 and 8044 to 8029..
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 7864 and 7939 to 7954
Support should appear at 7836 and 7777 to 7763
BW Traders should go short if a close under 7761 occurs.
Precious Metals
April Gold
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 14590 to 14530 and 14210 to 14150
Resistance should appear near 14960 and 15290 to 15350
May Silver
Support should appear near 725.5 to 724.5 and 700.5 to 699.5
Resistance is at 741.5 to 742.5 and 748.5 to 751.5.
The Exciting Energies
April Crude Oil
Resistance should appear near 5418 to 5430 and the 5553 to 5577 region
Support should appear near 5356 to 5344 and 5282 to 5259
April Unleaded Gas
Resistance should appear 15290 to 15350 and the 15690 to 15760 .. Which should cap a rally
Support should appear near 14960 to 14890 and the 14590 to 14530 region.
April Heating Oil
Resistance should appear 14840 to 14960 and 15290 to 15350
Support should appear near 14590 to 14530 and the 14210 to 14150 region
April Cattle
Recommended open position short at 8545
Support should appear near 8872 to 8857 and 8777 to 8762
Resistance is at 8932 to 8967 and the 9042 to 9067 region
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 7487 and the 7412 to 7427 region.
Resistance should appear near 7587 to 7602 and 7672 to 7687
BW Traders should go Short if a close under 7412 occurs
June Hogs
Support is at 8132 to 8117 and 8047 to 8027..
Resistance should appear near 8192 to 8222 and 8302 to 8317
May Pork Bellies
Resistance should appear near 9042 to 9062 and the 9142 to 9157 region. Beyond that sellers should appear near 9317 BW Traders can sell at 9312 and risk a close over 9557 for three days in a row.
Support is at 8967 to 8932 and the 8872 to 8857 region
BW Traders should go short if a close under 8757 occurs.
The Grande’ Grains
May Soybeans
Support is 627 to 625 3/4 and 619 to 616 1/2
Resistance should appear near 633 3/4 to 635 and 641 3/4 to 643
May Soymeal
Support should appear near 186.5 to 185.8 and 182.2 to 180.8
Resistance should appear near 190.2 to 190.9 and 194.6 to 195.3
May Soybean Oil
Resistance should appear near 2354 to 2370 and the 2411 to 2419 region..
Support should appear near 2322 to 2315 and 2275 to 2267
May Corn
Support should appear near 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 332 3/4 to 331 3/4 and 342 1/2 to 344 1/4
Support should appear near 332 3/4 to 331 3/4 region.
The Satisfying Softs
May 'The Monster' Coffee
Recommended open position Long 3 at 11675 avg
Support is near 12380 to 12320 and 12030 to 11920 and the . Below that buyers should appear near the
11690 to 11640 region... Under that 11360 to 11300 should hold. BW Traders can buy at 11690 and risk a close under 11290 for three days in a row
Resistance should appear near 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 1774 to 1780.. Beyond that a test of 1808 to 1822 is likely.
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 4925 to 4915 and 4855 to 4845. 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 the 5125 to 5140 Beyond that sellers should appear near 5255 to 5285 and the 5345 to 5355 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
Saturday March 5th , 2005
7:10 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 1224.30
Long March Mini Russell 645.00
Short June Swiss Francs 8567
Short June British Pounds 18973
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