The Bull Is Back...........................

Today's Gold market reacted to a very weak U.S. Dollar ( DOWN 58 pts. @ the Gold close) and another up day in the Crude Oil (up 57 pts. @ the Gold close). The economic numbers this morning started the Dollar heading South early..Even Walmart's numbers weren't good and that hardly ever happens! The Economy has certainly slowed . This with the fact that India is still buying huge amounts of physical Gold has pushed the Gold to $647.50 and closing$12.00 HIGHER for the day. Another nice range today.....HIGH......648.00
.....LOW........635.00
.....CLOSE.....647.50

Be careful tomorrow /Friday ....maybe profit taking ?????

The following are my guideline numbers for Friday 12/01 for December Gold....................

resistance # 2............656.50
resistance # 1............652.00
pivot.....643.50
support # 1................639.00
support # 2...............630.50

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

TO OPEN AN ACCOUNT CALL-888-282-2770

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

Gold Closes $1.80 Lower On The Day.............

Today's Gold trade resulted in a loss of $1.80 on the day. Even with a rare strong U.S Dollar (up 30 pts. at the Gold close) the Gold community seemed to keep it's eye on the constant tension/uncertainty in the Middle-east today and certainly one of the main reasons Gold didn't sell-off versus the Dollar rally. With President Bush actually in the Middle-east today conducting meetings with Leaders from the Region you should expect Traders to sit on the side-lines until news is released. The gold market traded in a $6.30 (pt. ) range today..........
HIGH................640.30
LOW..................634.50
CLOSE...............635.50

The following are my guideline numbers for 11/30 Thursday, for December Gold......

resistance # 2 = 642.50
resistance # 1 = 638.50
pivot.................= 636.50
support # 1 = 633.00
support # 2 = 630.50

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

TO OPEN AN ACCOUNT CALL...MIKE DALY..88-282-2770

FREE CONSULTATION, RATE DISCUSSION, FREE OPTION STRATEGY BOOKLET....


TRADE SMART......

Gold Gives Back $3.30 Today..............................

Today's Gold trade was a very choppy / nervous session.
Once again the Gold community watched the market react to economic reports.
Early on in the trading session it seemed the Funds were selling the Gold (I believe taking some profits ) when the market did not hold some support levels. The market traded as low as $632.50 before a late session rally due to Federal Reserve Chairman Ben Bernanke stating"he's concerned about inflation due to Economic Slowdown....." The U.S. Dollar was weak (28 Lower)and the Crude Oil was Strong again today (54 Higher) as of the Gold close.
Another nice trading range today...HIGH..........641.90
LOW...........632.50
CLOSE........637.30

The following are my guideline numbers for Wednesday 11/29 for December Gold..............

resistance # 2......................646.50
resistance # 1......................641.50
pivot ........................637.00
support # 1..........................632.00
support # 2..........................627.50

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

To open an Account.......888-282-2770

Trade Smart.....

Dollar Loses More Ground...............

Today's Bullish Gold trade was fueled by another Bearish trade in the U.S dollar(down 17 pts. 8342) at the gold close. Having another strong up day in the Crude Oil, physical Gold demand, and of course the ever present tension in the Middle-east also played a huge role in December Gold closing at $640.60 for the day. Be aware the choppy trade will continue til the New Year.
The following are my guideline numbers for Tuesday 11/28 in December Gold.

resistance # 2.....................................................645.00
resistance # 1.....................................................643.00
pivot ........................640.00
support # 1.....................................................638.00
support # 2.....................................................635.00

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



TO OPEN AN ACCOUNT CALL 888-282-2770

Weak Dollar ........

Friday's Gold trade was extremely choppy with the electronic trade producing an $11.00 range.
This was based on a Stronger Crude Oil market and a very weak U.S. Dollar.
From now til the end of the year you should expect very choppy markets to continue.

The following are my guideline numbers for Monday 11/27 for December Gold.........

resistance # 2........644.00
resistance # 1........636.50
pivot......633.00
support # 1.......625.50
support # 2.......622.00

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

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

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

Thanksgiving Profit Taking .....................

Today's Gold market started Higher and traded up to $635.00 ($6.30 Higher on the day) before watching the Crude Oil continue to slip and in my opinion started a pre-Thanksgiving Day profit taking sell-off. Traders usually sit on the side-lines the Friday after Thanksgivng so for all practical purposes this was a Friday/like profit taking trade.
Once again the Gold traded in a nice trading range ($8.60 top to bottom).
HIGH..........635.00
LOW...........626.40
CLOSE.......629.00 .30 cent

The following are my guideline numbers for Friday 11/24 for December Gold......

resistance # 2...............638.50
resistance # 1...............633.50
pivot ...................630.00
support # 1...................625.00
support # 2...................616.50

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

I will be taking Friday off...But my blog will have Monday's numbers prior to
Monday's open..................

TO OPEN AN ACCOUNT.....FREE CONSULTATION.... RATES

CALL...............888-282-2770


HAPPY THANKSGIVING...............

Gold Rallies On Bullish News.........

Today's Gold market used plenty of Bullish (for Gold ) news today.
There is plenty of demand for physical Gold world-wide. (supply & demand)
Reports out of Lebanon confirming Lebanese Cabinet Minister and Christian Leader
Pierre Geymayel was killed in a Beirut suburb. He was known for being anti-Syrian and with the current tension between the Lebanese Cabinet and Hezbollah (who is currently seeking Cabinet decision-making power) this certainly deems watching..
Also with a weak U.S. Dollar and a huge up day in the Crude oil the Gold rode the Bullish wave.
Another wide range today...7.70 ..before closing $6.60 HIGHER on the day.....
HIGH...........629.00
LOW.............621.30
CLOSE.........628.70

The following are my guideline numbers for Wednesday 11/22 for December Gold........

resistance # 2....................633.50
resistance # 1....................630.50
pivot .......................626.00
support # 1........................623.00
support # 2........................618.50

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

TO OPEN AN ACCOUNT, FREE CONSULTATION, OR TO DISCUSS RATES
CALL..... 888-282-2770

TRADE SMART

Gold Traders Try And Sort News...........

Today's trading session was a day of trying to sort and de-code news.
With the prices at the pump seeming to rise again..The price of other commodities (Pork, Cattle,
and Grains) also rising in price.. and a relatively weak U.S. Dollar as of late has people talking about a higher cost of living and pending inflation. Couple this with Middle-east tension pending the Iraq, Iran, and Syria peace plan this coming weekend (United States not invited).....Has Gold speculators more Bullish than Bearish at this point.(Syria and Iran are anti United States and Israel)....Another $7.00 plus trading range today HIGH......627.50
LOW.......620.50
CLOSE.....622.10

The following are my guideline numbers for Tuesday 11/21 for December Gold.............

resistance # 2............630.50
resistance # 1............626.50
pivot ......623.50
support # 1................619.50
support # 2................616.50

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


TO OPEN AN ACCOUNT, FREE CONSULTATION, RATES,
CALL MIKE @ 888-282-2770...

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

Friday's Gold Market Closes .80 Cents Higher

Friday's Gold market closed .80 cents higher on the day at 622.50 after rebounding from 614.50 early in the session. Reports showed that the Housing Market has really slowed, but more importantly housing permits for next years construction are down 6%...That's huge.
Those numbers alone took the U.S Dollar Lower and helped the Gold Rally to close Higher
for the day. As I said yesterday expect a very choppy trade til year end.
Today's HIGH......622.90
LOW.......614.50
CLOSE....622.50

The following are my guideline numbers for Monday 11/20 for December Gold.........

resistance # 2............628.50
resistance # !.............625.50
pivot ..............620.00
support # 1................617.00
support # 2................611.50

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

TO OPEN AN ACCOUNT,DISCUSS RATES, FREE CONSULTATION
CALL------888-282-2770

TRADE SMART.......

Gold Reacts To Strong Dollar.......

Thursday's Gold trade was choppy to say the least. The early CPI (consumer price index) was down 5%. This caused the Gold to open and rally Higher up to $629.50 for the HIGH of the the session. The Crude Oil was sharply lower today boosting the U.S Dollar up 20 pts. At the gold close. The Bulls are buying the dips and with option expiration on the horizon and a Holiday shortened next week it should remain a choppy trade. The Gold market has really had some wide trading ranges and today it had another $8.50 pt. Range ($850 dollars top-bottom)
today's HIGH......629.50 (MY 1st resistance = 628.00)
LOW.......621.10
CLOSE...621.50

The following are my guideline numbers for Friday 11/17 for December Gold.......

resistance # 2..................632.00
resistance # 1..................627.00
pivot .................624.00
support # 1......................618.50
support # 2......................615.50

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

TO OPEN AN ACCOUNT.............
FREE CONSULTATION......
RATES... CALL----888-282-2770

Trade Smart.........

Strong Dollar Keeps Gold Lower.............

Today's Gold trade tested the down-side today due to a very strong U.S Dollar.
The Dollar was 53 pts. HIGHER at one point causing the Gold to trade down to $616.00 early on in the trading session. As the Dollar weakened from a high of 8553 down to 8524 (at the gold close the Gold in turn rallied closing at $623.80. Not much Bullish news for gold today other than reports claiming a very optimistic forecast for physical Gold in the 4th quarter.
If economic news continues to strengthen the Dollar ....The gold reports may be meaningless !!
The Gold had another wide range today..HIGH......625.80
LOW.......616.00
CLOSE....623.80

The following are my guideline numbers for Thursday 11/15 in December Gold.............

resistance # 2......................632.00
resistance # 1......................628.00
pivot .....................622.00
support # 1.........................618.00
support # 2.........................612.00

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


TO OPEN AN ACCOUNT,FREE CONSULTATION,TALK RATES...
CALL MIKE..........888-282-2770

FREE OPTION STRATEGY BOOKLET........

TRADE SMART

Solid Financial Reports Slow Gold..............

The PPI and Retail Sales reports were better than expected for the U.S. economy.
in fact some economy experts are predicting the FOMC will either keep interest rates the same or maybe even cut them. I don't know about that, but I do know that Gold should have closed a lot lower based on those reports and it only closed slightly lower.(625.30)

There is still a huge supply of physical Gold being purchased around the world.
Once again a nice range in the December Gold....HIGH----630.50
LOW---- 619.50
CLOSE---625.30

MY FIRST SUPPORT WAS .....620.00 ***

My guideline numbers for Wednesday 11/15 in December Gold ...................

resistance # 2.................................636.00
resistance # 1.................................630.50
pivot ...............................625.00
support # 1....................................620,00
support # 2....................................614.00

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

TO OPEN AN ACCOUNT... FREE CONSULTATION...DISCUS RATES......
OR FOR A FREE OPTIONS BOOKLET......CALL----888-282-2770
OR 312-987-2077


TRADE SMART .....

Choppy Monday...........

Monday's Gold trading session was very choppy and for the most part a very technical trade.
the market traded between the supprt and resistance levels using the pivot as the swing point all day. With a weak Crude Oil (80+ Lower at the Gold close) and a bullish U.S. Dollar today the only news keeping the Gold from losing more ground was the huge amounts of physical Gold being purchased world-wide..(U.S. , China , India....) .
Gold was $4.30 lower on the day with a HIGH......633.90 LOW....621.50... before Closing at
625.80. My first support was....622.50 today. Tuesday morning the PPI and Retail Sales
reports are released at 7:30 am (cst) and should be respected.
The following are my guideline numbers for Tuesday 11/14 in December Gold........

resistance # 2.................................639.50
resistance # 1.................................632.50
pivot .......................627.00
support # 1....................................620.00
support # 2....................................614.50

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


TO OPEN AN ACCOUNT, OR FREE CONSULTATION, DISCUSS RATES, OR A FREE OPTIONS STRATEGY BOOKLET...CALL 888-282-2770


TRADE SMART........

Choppy Monday.........

Traders Take Profits..............

Friday's Gold trading session was simply a profit taking trade. After post election speculation traders decided to take what the market gave before going home for the weekend.
After gaining $18.50 yesterday the market gave back $6.70 today closing at 630.10.
the U.S Dollar was weak again today and Crude was trading under $60.00 a barrel at the Gold close. Many traders predict a continued weak U.S Dollar and a slowing economy.
The one thing this Election has taught me is that when the country isn't happy they will let the U.S. government know !! The economy was a big issue with the voters . They got the governments attention. So my opinion is they won't let the U.S Dollar slip too far. The Gold is a separate entity these days it reacts to supply and demand and world tension more than the Dollar or the Crude oil recently. The Gold had a $ 11.50 pt. range today.
HIGH.............638.00
LOW..............626.50
CLOSE...........630.10

The following are my guideline numbers for Monday 11/13 for December Gold.................

resistance # 2............................643.00
resistance # 1............................636.50
pivot ....................631.50
support # 1................................625.00
support # 2................................620.00

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

FOR FREE CONSULTATION, RATES, OR TO OPEN AN ACCOUNT
CALL 1-888-282-2770

FREE OPTION STRATEGY BOOKLET.........Email mdaly@manducatrading.com

Giant Rally..................

The Gold market has determined the control of both the U.S House of Representatives and The U.S. Senate may be negative for the U.S. Dollar and therefore Bullish Gold.
I believe the Gold trading sector has anticipated GRID-LOCK between a Republican President and House and Senate that's Democrat. Also the huge amounts of physical Gold being purchased world-wide is keeping prices high.
I continue to believe with the Housing Sales way down, a very weak U.S Dollar, and the spike in Crude oil lately have many traders concerned with inflation.
Today's Gold market had a $ 22.50 range..HIGH....637.00
LOW.....614.50
CLOSE..636.80

UP $ 18.50 on the day..........My first support was 615.00 today

The following are my guideline numbers for Friday 11/10 for December Gold.....

resistance # 2.....................652.00
resistance # 1.....................644.00
pivot.........629.50
support # 1......................622.00
support # 2......................607.00

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


FOR A FREE CONSULTATION, RATES, OR TO OPEN AN ACCOUNT........
CALL--------888-282-2770

TRADE SMART !

Post Election Sell Off........

Today's Gold market rejected following a very strong Crude Oil move today choosing instead to BREAK $9.00 dollars and settling at 618.50 for the session.
Many traders believe there is a TOP HEAVY feel in the December Gold Option Positions.
With just a few weeks before December Gold Options expire I believe the seasoned traders have learned it's usually a good idea to take profits, liquidate, or roll their positions early and not wait until the last minute. (avoid option wasteland)
The Gold has enjoyed a nice BULL run and I believe traders are taking profits (futures & options) post Elections and prior to Thursday's reports.

HIGH...629.20 LOW.....618.00 CLOSE....618.50

The following are my guideline numbers for Thursday 11/09 for December Gold............

resistance # 2.............................633.00
resistance # 1.............................626.00
pivot ....................622.00
support # 1.............................615.00
support # 2............................611.00



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


FOR A FREE CONSULTATION, RATES, OR TO OPEN AN ACCOUNT
CALL----888-282-2770

CALL FOR A FREE OPTION STRATEGY BOOKLET

TRADE SMART

Election Day Trade.........

Tuesday's Gold market was virtually unchanged today (20 cents LOWER) in another choppy trading session market claimed a $7.50 dollar range during the session with a High of.....631.20.......LOW.....623.70 .....before closing at 627.70. My first support level today was 624.00. It was another abandon the normal trend day...With the U.S Dollar 48 LOWER (Dollar Lower=Gold Higher) and the Crude Oil 90 plus lower both at the close of Gold(Crude Oil Lower= Gold lower usually) you would think Gold would have been Lower on the day. The Gold community split the difference and settled basically unchanged. I believe many seasoned traders decided to take to the Election Day side-lines and prepare for the Thursday reports all coming out at (7:30 CST)....EXPORT SALES....TRADE BALANCE....JOBLESS CLAIMS....CPI....

The following are my guideline numbers for Wednesday 11/08 for December Gold.............

resistance # 2..................................635.00
resistance # 1..................................631.00
pivot ........................627.50
support # 1......................................624.00
support # 2......................................620.00

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

FOR FREE CONSULTATION, RATES, or to OPEN AN ACCOUNT
CALL---------1-888-282-2770

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

Gold Seeking Trading Range..................

Monday's Gold trading session provided a very choppy market that was seeking direction.
Even with a very strong Crude Oil market (up 100+ pts. At the Gold close) the Gold couldn't hold it's gains. (HIGH 632.200 ) CLOSING AT 627.60.. ( $1.60 LOWER ON THE DAY)
It seemed the Gold was trading off the U.S. Dollar today. (DOLLAR AND GOLD SHOULD BE TRADING IN OPPOSITE DIRECTIONS) . When the Dollar rallied today the Gold traded lower.
Their is a lot of bullish news for Gold in the news and with tomorrows Elections and Thursday's very key slate of reports .....Export Sales (7:30 cst.) ........
Jobless Claims (7:30 cst.) ..............
Supply/Demand (7:30 cst.) ...............
U.S. Trade Balance (7:30 cst.)..................
I believe the Gold trading community is waiting on the side-lines awaiting the Election results.
The results will certainly affect the direction in the Middle-east. Take a look at the February Gold ( BULL CALL SPREADS ) seems to be lots of new volume !!!!

The following are my guideline numbers for Tuesday 11/06 for December Gold.......

resistance # 2........................636.00
resistance # 1........................631.50
pivot ........................628.00
support # 1...........................624.00
support # 2...........................620.00

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


FOR A FREE CONSULTATION,RATES, or FREE OPTION STRATEGT BOOKLET
or TO OPEN AN ACCOUNT CALL 1-888-282-2770 OR 312 -987-2077

TRADE SMART

Early Profit Taking...Late Rally........

Friday's Gold market began a bit weaker and due to a very strong U.S. Dollar started aprofit taking break down to $619.50.(MY SUPPORT WAS 620.00) before holding support and starting it's rally on more Middle-east tension. The market rallied up to 631.40 on reports Iran launched 3 missiles in Gulf exercises. Iran launched 3 new improved missiles on Friday bringing the whole Gulf Region within the Islamic Republics weaponry, Iran's State Radio said.
These missiles included LAND to SEA and SEA to SEA Brigadier-General Fadavi told State Radio. Then he added " The whole area is now under our control".
This truly adds fuel to an already brittle region. (war environment = Bullish Gold)
High....631.40 Low.....619.50 Close....629.20 up...$1.40 on the day......

The following are my guideline numbers for 11/06 Monday for December Gold........

resistance # 2.......................639.00
resistance # 1.......................634.50
pivot .....................627.00
support # 1..........................622.50
support # 1..........................615.00


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

FOR A FREE CONSULTATION,RATES, or OPEN AN ACCOUNT
CALL-----1-888-282-2770

I trade all markets...........

Trade Smart.........

The Bull Run Continues...........

Thursday's trading session in the Gold began on the choppy side before the market began it's sideways to eventual upside move. The December Gold closed at $627.80 settling $8.50 dollars HIGHER on the day. Once again the Gold followed it's own path and ignored a positive U.S. Dollar and a negative Crude Oil market. I believe the gold community has chosen to trade the Gold basis the U.S. economy , Middle-east tension, physical Gold buying. And a technical break-out when the market broke the $620.00 resistance level. The $620.00 level was not only a BIG technical area it was also a BIG psychological area. Be careful trading on Friday... Many traders take profits before the weekend and the market has rallied all week !!!!!
HIGH....628.30 LOW....616.50 CLOSE....627.80

The following are my guideline numbers for 11/03 Friday for December Gold...........

resistance # 2.............................636.00
resistance # 1.............................631.50
pivot ................624.00
support # 1.................................620.00
support # 2.................................612.00

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

I TRADE MORE THAN GOLD.......
TO OPEN AN ACCOUNT, DISCUSS RATES, or a FREE CONSULTATION
CALL 1-888-282-2770

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

The Bull Run Continues.................

Running Of The Bulls............

Today's Gold market was fueled by BULLISH news from start to finish. For most of the day the Gold and Crude Oil traded in opposite directions and the U.S. Dollar was positive most of the session normally would have pushed the Gold LOWER. However the Gold community has chose to ignore the normal trends and follow the U.S. economic reports (reports have shown the economy is slowing = BULLISH for Gold), the huge demand for physical Gold, and most recently ...Mid-east tensionl (Hezbollah: has threatened street protests if the Lebanese government rejects a National Unity Cabinet that gives them veto power over key decisions.
The Israel's launching a full scale attack against Palestinian Militants in the Gaza Strip.) causing more tension in an already brittle atmosphere. Mid-east conflict is always BULLISH for Gold.
The December contract did hold $620.00 on the upside.......The 620.00 level is considered a very STRONG resistance level. We'll see what tomorrow brings !

HIGH........619.80 LOW.......607.50 CLOSE.......619.30

Thursday's Key Reports......
EXPORT SALES....7:30 am (cst)
JOBLESS CLAIMS 7:30 am(cst)

The following are my guideline numbers for 11/02 Thursday for December Gold............

resistance # 2...............................628.00
resistance # 1...............................624.00
pivot .....................615.50
support # 1...................................611.00
support # 2...................................603.00


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


TO OPEN AN ACCOUNT, DISCUSS RATES or FREE CONSULTATION

CALL Mike Daly.......888-282-2770

TRADE SMART ****

Running Of The Bulls.................