Monday, November 19, 2007

Gold Trades $9.00 Lower Today.......

Many traders in anticipation of a poor HOUSING STARTS number (11/20 7:30am. CST) continued to take profit and even positioning themselves short hoping to take advantage of a weak Stock Market reaction. Despite the reality that a weak Housing Market should be Bullish for the Gold market.The Gold community remembers the dilemma that occurred several months past when during the avalanche that was the Stock market during the release of the Credit Crunch / Mortgage fiasco many Stock investors sold their METALS positions to liquidate cash to cover their Stock Margin requirements. Gold traders learn to adapt quickly.
The Gold traded in a $13.10 range today...HIGH...789.10 LOW...776.00 CLOSE...778.00
THE FOLLOWING ARE MY SWING NUMBERS FOR TUESDAY 11/20..DECEMBER GOLD...
RESISTANCE #2.........................794.00
RESISTANCE #1.........................786.00
PIVOT..........................781.00
SUPPORT #1...............................773.00
SUPPORT #2...............................768.00
TRADE SMART...........TRADE GOLD..............CALL NOW...888-282-2770

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