Tuesday Rumor Mill..............................

For the past few weeks the U.S Dollar has really been under pressure do primarily to poor economic news. That trend continued today with a poor CPI (Consumer Price Index ) report.
The normal RULE of THUMB is Gold and Crude Oil are ANTI DOLLAR and trade in the same direction opposite from the U.S. Dollar.... This has not been the RULE lately. The Gold has been trading on bullish (for Gold ) news headlines and a very weak U.S Dollar. The Crude has been trading on LACK OF BULLISH (for Crude Oil ) news and rumors that OPEC may not*** cut
Oil production and anticipation of a BEARISH reports on Thursday. The Gold was a CHOPPY trade today and struggled to close 60 cents lower on the day. ($606.80)
High ....609.30 Low......600.50....... Close.......606.80 ...............

The following are my guideline numbers for 11/01 Wednesday... For December Gold

resistance # 2........................................615.00
resistance # 1........................................611.50
pivot .............................606.00
support # 1............................................603.00
support # 2............................................597.00


resistance = possible place to sell
support = possible place to buy
pivot = possible point to determine direction


I trade more than Gold.... I trade the world.......................
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Bullish News For Gold................

Monday's Gold trade was fueled by plenty of bullish news for the Gold sector.
The sluggish Housing Sales continue to spark fears of a slowing economy. (Sluggish Economy = Bullish Gold). Continued speculation that North Korea is preparing for another nuclear test. (Threat of World Hostility = Bullish Gold). 4 th Quarter purchase of huge amounts of physical Gold around the world. ( Supply & Demand = Bullish Gold). According to ABC NEWS : Ayman al Zawahiri (al Qaeda's # 2 man) was targeted in a missile attack this morning according to Pakistani intelligence sources. I believe this really fueled an already bullish trend during the session. At one time the December Gold was $12.00 and change higher on the day. The Gold settled at 607.40 for the day.

The following are my guideline numbers for 10/31 Tuesday for December Gold......................

resistance # 2................................619.00
resistance # 1................................613.00
pivot ..................................606.50
support # 1...................................600.00
support # 2.................................. 593.50

resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction


I Trade more than gold ......I trade the world.......

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Trade Smart...................

Bulliwsh News For Gold.....................

Friday's Gold Session Closes Over $600.00

Friday Gold trade was choppy and reacted directly to the weakness of the U.S Dollar.(36 pts. Lower at the Gold close). Reports of a very weak GDP, Housing Market slump(that are taking a toll), Terrorist threats against Saudi Oil, and the heavy supply of physical Gold being purchased World-wide. The market closed above the technical and psychological $600.00 Level.
The market needed to rally $3.00 = in the last 25 minutes to close at $601.00.....
Expect more choppy trading before the election...

The following are my guideline numbers for 10/30 for December Gold.........................

resistance # 2.............................608.00
resistance # 1.............................604.50
pivot...........................599.50
support # 1.................................596.00
support # 2.................................591.00

resistance = possible point to sell
support = possible point to buy
pivot = possible point to determine direction

I trade more than Gold....
FREE CONSULTATION
Discuss rates
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TRADE SMART......................

Friday's Gold Session Closes Over $600.00

Friday's Gold Session Closes Over $600.00

BIG BULL THURSDAY.........................

Thursday's Bull market is a direct result of a very weak U.S. Dollar due to weak economic reports earlier in the session. Poor New Home Sales numbers and Export Sales seem to suggest
the economy is slowing and talks of inflation are growing. (inflation talk = bullish Gold )
Despite the weak Dollar the Crude took a beating today due to Exxons 3rd quarter earnings report. Since Crude oil averaged about $70 a barrel during the 3rd quarter Exxon reported profits of $10.49 BILLION... I think the Energy traders sent a message to Exxon by taking the Crude Oil from a positive 61.79 down to a negative 60.10 . Only the negative U.S Dollar (talk of inflation) prevented Gold from following the Crude. the gold traded very technically again today(trading between my PIVOT & 1st RESISTANCE) and closed very positive at $599.80........

The following are my guideline numbers for Friday 10/27 in December Gold..................

resistance # 2.............................................609.00
resistance # 1.............................................604.00
pivot .....................................597.00
support # 1.................................................592.00
support # 2.................................................585.00


resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction

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FREE CONSULTATION *****
email mdaly@manducatrading.com

I trade more than just Gold....I trade the World......

Trade Smart*********

Gold Closes Strong ......................

Wednesday's Gold session started aliitle lower and sideways seeking a support level. After bouncing off 582.50 it began a steady and stout rally trading up to 594.20 and closing $ 3.20
on the day. The Presidents 9:30 (cst) news conference certainly didn't help the Dollar much(negative dollar means Higher Gold) when he confirmed his plans to win the war against terrorism and would send more troops if his advisors recommended.
This is a very tough time to be trading (13 days before election day -November 7) because
of all the rumors and conspiracy theories. Many believe Crude Oil is lower now than it was a month ago because of pressure by the Republicans to show the voters how good the Economy is
(cheaper gas / more cash in your pocket) but I believe Crude Oil is simply supply and demand.
OPEC has cut production: but we've had a very mild hurricane season thus far and we're getting help from more Ethanol production. Gold has it's own community and it will react and trade
separately from all markets when news dictates, but as of the present time it is reacting and for the most part is shadowing the Crude oil. This is why I tell my clients to trust the numbers.....
This is not the Stock Market ! The Key to trading Gold is to take what it gives and don't worry where it goes.....If you can't pull the trigger the GOLD MARKET is not for you !!!!!
My pivot today was 584.00...The LOW of the day was 582.50...... The HIGH was...594.50.......


The following are my guideline numbers for 10/26 Thursday in December Gold.............

resistance # 2.........................................601.00
resistance # 1.........................................595.50
pivot ........................................589.00
support # 1.............................................583.50
support # 2.............................................577.00


resistance = possible point to sell
support = possible point to buy
pivot = possible point to determine direction


TO OPEN AN ACCOUNT CALL 1-888-282-2770 mdaly@manducatrading.com
FREE CONSULTATION.

TRADE SMART

Looking For Direction.....................

The Tuesday Gold trade was very choppy and in search of a direction early in the session trading between 583.00 & 576.00 looking for support. About mid- morning the Gold got up a head of steam with the U.S. Dollar going from 8672 (24 pts. Higher) down to 8635 (15 pts. Lower) & the very bullish Crude Oil rally help drive the Gold $ 4.70 Higher for the day.
My first support level was 578.00 it held well several times (576.00 LOW of day) showing me the market was trading technically today. Take a good look at the 700 - 1000 (STRIKE CALLS)
for November Gold. Looks like interest to me. (maybe the big guys are counting on a "Santa Claus Rally")........... Look for FOMC to do nothing tomorrow !

HIGH.................589.00
LOW .................576.00
CLOSE .............587.70 ..............................ANOTHER NICE RANGE

The following are my guideline numbers for Wednesday 10/25 December Gold

Resistance # 2.................................................597.00
Resistance # 1.................................................592.00
Pivot .................................584.00
Support # 1 .....................................................579.00
Support # 2 .....................................................571.00

Resistance = possible point to sell
Support = possible point to buy
Pivot = possible point to determine direction

TO OPEN AN ACCOUNT CALL 1-800-282-2770------email mdaly@manducatrading.com

TRADE SMART **********

Technical Correction.......................

Today's Gold trading session turned into a technical sell off. With a very strong U.S. Dollar (46 pts. Higher @ Gold close ) and a very weak Crude oil market (100 pts. Lower @ Gold close ) the Gold trading sector didn't have much of a choice but to trade technically. After a week of tension between the United Nations and North Korea it appears the North Koreans have cooled the situation by apologizing to China for testing nuclear weapons against China's wishes.
This seems to have lightened the threats. The Gold market had another large range today.
HIGH---596.40
LOW ---582.50
CLOSE---583.00
YOU'VE GOT A $14.00 RANGE ON VERY LITTLE NEWS.....This is an indication the community was looking for support/resistance levels and searching for stop/loss orders.....

The following are my guideline numbers for Tuesday 10/23 for December Gold............

resistance # 2 ...............................................601.00
resistance # 1 ...............................................591.50
pivot .............................587.00
support # 1 ...................................................578.00
support # 2 ...................................................573.00

resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine market direction

*****SPECIAL THANKS TO : Walter Traversy and Pina Bernardi C/O

CFRA RADIO 580 (Canada) for having me as a guest on their program last Friday........


To OPEN an account with Mike Daly Call -1-888-282-2770

I trade more than just Gold...I trade the world.......

Trade Smart.................................

Technical Correction.......................

Tough To Figure Today.............

Friday's Gold session I believe turned into a profit taking/stop loss retracing from yesterday.
Despite OPEC confirming reports ( the inevitable Oil production reduction) that it will reduce Oil Production by 1.2 million barrels per day. This should have made the Crude Oil rally but instead the Crude Oil was well over 100 pts. Lower at the Gold close. This means the OPEC production was factored in to the market much earlier to the official reports. Just look at yesterday's Crude Oil high. This is a good lesson to remember. This is why I hesitate in taking positions over night
and allow the market to come to me. Only the heartiest traders take positions over a weekend these days. Friday's are infamous for PROFIT taking. Today's market gave about $ dollars back from Thursday's $10.00 rally.................

The following are my guideline numbers for Monday 10/23 for December Gold............

resistance # 2......................611.00
resistance # 1......................603.50
pivot............................599.00
support # 1.........................592.00
support # 2 ........................588.00

resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction

TO OPEN AN ACCOUNT CALL 1-888-282-2770
TRADE SMART


I trade more than just Gold . I trade the World...
FREE Consultation.............


MDALY@MANDUCATRADING.COM

support = possible point to buy market

Gold Rallies $10.00...........

Thursday's gold session riddled with nothing but bullish news rallied $12.00 higher and settled $10.00 higher on the day. Besides the very weak U.S. Dollar ( 59 pts. Lower at the Gold close ) and Crude Oil was 89 pts. Higher at the Gold close there was plenty of world news to kick start the rally. Reports from ABC NEWS state North Korean General Ri Chan Bok saying "If President Bush continues to ask North Korea to kneel (due to economic sanctions ) "War IS INEVITABLE". Threats of war are bullish for Gold...
Secretary of State Condolezza Rice is in South Korea encouraging South Korea and China to enforce the United Nation sanctions against North Korea. Seretary Rice has offered unconditional terms to bring North Korea back to the bargaining table.
The Secretary also pledged protection to Japan and South Korea if attacked.
Sounds like the line is drawn. Almost forgot OPEC is meeting !!! (reduce production ??)

The following are my guideline numbers for 10/20 for Friday in December GOLD......


I bought Gold off my 1st support today 590.10.. (my 1st support was 590.00) !!!!


resistance # 2..........................614.00
resistance # 1..........................608.50
pivot...........................599.00
support # 1..............................593.50
support # 2..............................585.00


resistance = possible place to sell market
support = possible place to buy market
pivot = possible point to determine direction

These numbers are for day trades and work best for quick scalps.

TO OPEN an Account with Mike Call: 1-888-282-2770
FREE Consultation..............
Trade Smart............

Choppy Trade..................

Wednesday's Gold session showed a mixed bag today. With the U.S. Dollar up and the Crude Oil lower (76pts. At Gold close) you'd think the Gold would have closed much lower. The Gold closed basically unchanged. (1 hour prior to the close it was $3.00 higher )
I believe with the north Korea / nuke standoff (threat of war premium= higher Gold ), the continued buying of physical Gold by India (wedding season), and China. There seemed to be a mixed opinion from Gold traders with most thinking there was more bullish news than bearish news. The market traded technically today !!!

The following are my guideline numbers for 10/19 Thursday for December Gold................

resistance # 2.............................601.50
resistance # 1.............................597.00
pivot............................................594.50
support # 1.................................590.00
support # 2.................................587.50


resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction


TO OPEN AN ACCOUNT.............888-282-2770

I trade more than GOLD...I trade the world...........

TRADE SMART

Tuesday's Gold Market Very Choppy.......

Today's Gold market was very choppy and gave back $5.00 from yesterday's close.
Despite a lower U.S. Dollar (22pts. At Gold close) the Gold sector took profits and followed the very negative Crude Oil market. As the Crude Oil went from being very positive early to 112 pts. Lower at the Gold close it pulled the Gold market as much as $10.00 lower before a late last hour rally to only lose $5.00 on the day. The news in North Korea is still on all Gold traders screens. The latest is U.S intelligence reports movement of missiles in North Korea. Once again the North Koreans have stated "United Nations sanctions are a declaration of war ".

The following are my guideline numbers for Wednesday 10/18 for December Gold..........

resistance # 2...........................607.50
resistance # 1...........................600.50
pivot .........................................594.50
support # 1 .............................587.50
support # 2..............................581.50

resistance = possible place to sell market
support = possible place to buy market
pivot = possible point to determine direction

CALL 1-888-282-2770 TO OPEN AN ACCOUNT

FREE CONSULTATION>>>>>>>>>>>

TRADE SMART........

Tuesday's Gold Market Very Choppy..........

Monday Gold Rally........

With the aid of a weak U.S. Dollar and a strong Crude Oil market the trading session in Gold closed $5.80 higher on the day. I believe the October 20th OPEC meeting is the reason Crude oil is higher (probable Oil production cuts ) and the reaction to upcoming sanctions against North Korea will certainly keep the Gold sectors attention. North Korea called the sanctions "Gangster Like " and stating "if future sanctions continue it will be considered an act of war and be met with a physical response ".

The following are my guideline numbers for Tuesday 10/17 in December Gold..............

resistance # 2.............................................603.00
resistance # 1.............................................600.50
pivot ...........................................................596.50
support # 1.................................................594.00
support # 2.................................................590.00

resistance = possible point to sell
support = possible point to buy
pivot = possible point to show direction


TO OPEN AN ACCOUNT........Mike Daly 1-888-282-2770

CALL FOR FREE CONSULTATION...RATES.....

Monday Gold Rally.................

Gold Rallies $12.40 To End Week.......

Friday's Gold session opened $9.00 higher and closed $12.40 higher for the day.
The Gold followed the Crude Oil (up 130 at the Gold close) which reacted not only to a technical short cover but also in anticipation to the meeting of OPEC October 20th .
OPEC has stated they intended to cut Oil production October 31. This should keep Crude Oil above $50 a barrel for now. (less production = higher Crude)
With the housing market at a crawl and the huge upward moves in the grain markets over the last 6 weeks I believe the Gold sector smells inflation. (inflation = higher Gold)

The following are my guideline numbers for Monday 10/16 for December Gold......

resistance # 2..................604.00
resistance # 1..................598.50
pivot ................................589.00
support # 1......................583.50
support # 2......................574.00

resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction


TO OPEN AN ACCOUNT call 1-888-282-2770

FREE CONSULTATIONS.

Trade Smart

Rally

Rally

Weak dollar Helps Gold Rally...........

Today's trading session traded steady to lower after the opening,but soon took advantage of a weak Dollar and a strong positive Crude oil trading session(during Gold session).
Local Traders believe the vastly higher grain prices during the last month may spark the rumors of pending inflation. (inflation = higher Gold prices ) With OPEC threatening to cut oil production by 1 million barrels a day after 9/31/06 and the threat of continued hostilities with North Korea it certainly is keeping the bears at bay.

581.50 was a good resistance level to day trade today..........( my first resistance = 581.50 )


The following are my guideline numbers for 10/13 Friday in December Gold................

resistance # 2................................588.00
resistance # 1................................583.50
pivot ..............................................579.00
support # 1 ...................................575.00
support # 2 ...................................570.00

resistance = possible point to sell
support = possible point to buy
pivot = possible point to determine direction


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FREE one on one consultation........

Trade Smart..........................

Gold Looking for Direction.....................

Wednesday's Gold trading session was very mixed. The market opened virtually unchanged traded up to 582.00 dropped down to the 577. handle all before President Bush spoke at 10 am (CST). The market is searching for direction. Everyday brings new reports from North Korea and OPEC. Today reports from ABC NEWS " North Korea warned that increased U.S. pressure over the regime's reported nuclear test could be considered an act of war ". North Korea also said "It could respond to U.S. pressure with Physical measures ".
OPEC is still reporting possible production cuts as well.
Both these reports have great effects on the market. (Gold should be much higher ).
I believe the financial community realizes this is gonna be a very tense period and is trying to trade these markets in a non panic mode. ( I remember the1979 Gold market).
Hopefully diplomacy will prevail.

The following are my guideline numbers for 10/12 Thursday for December Gold......................


resistance # 2 ................................587.00
resistance # 1 ................................581.50
pivot ..............................................578.00
support # 1 ....................................572.50
support # 2 ....................................569.00



resistance = possible point to sell market
support = possible point to buy market
pivot = possible point in market to determine direction

To learn how to use these numbers call 1-888-282-2770


To open an account call Mike Daly.........1-888-282-2770


Trade Smart

Tuiesday Surrenders Monday's Rally...........

Tuesday's Gold session was full of volatility. The whipped up and Dow between 574.00 and 578.00 seemingly all day long. The strong U.S. Dollar (despite North Korea scare ) kept the Gold market lower on the day. The Crude Oil was very negative today (despite OPEC rumor of cutting cutting oil production) and helped prevent Gold from getting on any substantial rallies.
Traders might have to let their positions breath a little longer (widen stops) simply to avoid the Pit market Makers (locals) from searching for stop/loss orders.(and setting them off)

The following are my guideline numbers for 10/10 Wednesday December Gold.......................

resistance # 2............................589.00
resistance # 1............................581.00
pivot .............................577.00
support # 1..............................568.50
support # 2..............................564.50


resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction

Columbus Day Rally....................

Monday's Gold session waffled early opening higher on reports that North Korea had tested nuclear weapons yesterday and putting the world on edge. The United Nations Security Council had warned North Korea not to perform the test just two days earlier. Looks like more sanctions against the already isolated country. The gold dipped down to 575.50 before following the very strong Crude Oil rally.( 120 + higher at Gold close) The rally started when OPEC announced they were threatening to cut Oil production..........

The following are my guideline numbers for 10/10 Tuesday /December Gold...............

resistance # 2 .....................................592.50
resistance # 1 .....................................586.50
pivot .....................................581.00
support # 1 ........................................576.00
support # 2 .......................................570.50

resistance = possible point to sell
support = possible point to buy
pivot = possible point in market to determine direction

To open an account 1-888-282-2770

Trade Smart..................................

Columbus Day Rally...........................

Columbus Day Rally........

Bears Run Wild..........

Today's Gold trading session opened under all my support levels. When that happens more times than not the market seems to continue lower until it find support. The Dollar was strong today but I believe the late profit take yesterday and overnight caused a continuation of selling causing the market to blast past a psychological 600.00 dollar level. I believe the public prefers bull markets and the open interest is always better in bull markets.
Also the Crude Oil blew past it's technical / psychological $60.00 level trading under $59.00
during the Gold trading session. You would think with all the bad news in the world (North Korea ...To test nuclear weapons later in the week..........Venezuela /Iran to reduce oil production.......To raise the price ) that Gold and Crude Oil would be through the roof.
Welcome to the wonderful world of commodities !

The following are my numbers for 10/4 Wednesday for December Gold.........

resistance # 2............................598.00
resistance # 1............................581.00
pivot ...................................587.00
support # 1................................576.00
support # 2................................570.00

resistance = possible point to sell market
support = possible point to buy market
pivot = point in market to determine direction

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TRADE SMART..........................

Gold Trades A $7.00 Range ...........

Monday's trading session opened higher and after making it's 609.50 high it broke and drifted lower most of the day. Even with a very weak U. S. Dollar the Gold community chose to follow the very negative Crude Oil market (140+ pts. Lower at the Gold close).
The Yom Kippur Holiday was a big part of the slow trade today. But news of Venezuela and Iran threatening to cut oil production should have made the Crude Oil rally. The news of high importing of physical Gold (India,China,Turkey,) should have caused Gold to rally.
I believe this was a typical holiday market with very light volume and light profit taking.
LOOK at my first resistance level.......From Friday.......

The following are my guideline numbers for 10/01 Tuesday in December Gold.............

resistance # 2................612.00
resistance # 1................608.00
pivot ......................605.00
support # 1 ...................601.00
support # 2....................598.00

resistance = possible point to sell market
support = possible point to buy market
pivot = possible point to determine direction

CALL 1-888-282-2770 TO OPEN AN ACCOUNT
or for a FREE CONSULTATION........

TRADE SMART.............