Friday, February 29, 2008

GOLD CLOSES UP $7.50 TODAY...........

The Bulls enjoyed another UP day in the Gold market today.
Despite a slightly stronger U.S. Dollar and a profit take (FRIDAY) sell-off Iin the Crude oil the Gold managed to drift higher most of the day session. Lets face it....the news lately has been very bad concerning the U.S Economy recently. Many traders have cut back and even remained on the side-lines fearing a Gold sell-off to cover Stock Position margins......We are trading in VIRGIN territory in just about all the METALS, FINANCIALS, and GRAINS....(ALL TIME LEVELS).Traders are concerned and nervous BEST RULE OF THUMB....."TAKE PROFITS"..................
Reports:.....CONSTRUCTION SPENDING...9:00AM. CST......
HIGH...977.00 LOW...966.50 CLOSE...975.00.....
THE FOLLOWING ARE MY SWING NUMBERS 3/3/08...APRIL GOLD..........
RESISTANCE #2.........................983.00
RESISTANCE #1.........................978.50
PIVOT......................972.50
SUPPORT #1................................968.00
SUPPORT #2................................962.00

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Thursday, February 28, 2008

GOLD CLOSES UP $6.50 TODAY......

With the help of rising Crude oil prices, a very weak U.S.Dollar, and the FOMC Chairmans report...the Gold closed $6.50 Higher today. This Market is very strong and continues to blaze un-chartered ground.I am still long Bull spreads and continue to look for other bargains.
REPORTS TOMORROW...1/29/08.....PERSONAL INCOME...7:30 AM. CST.
HIGH.........969.50.............LOW.........960.00............CLOSE....967.50.....
SWING NUMBERS FOR 2/29.....APRIL GOLD............
RESISTANCE #2.........975.00
RESISTANCE #1.........970.00
PIVOT.........965.50
SUPPORT #1...............962.00
SUPPORT #2...............956.00
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Tuesday, February 26, 2008

GOLD CLOSES $8.40 HIGHER TODAY...........

Another strong rebound in the Gold trading session today.
Despite a mild pounding yesterday the Bulls won the day.
The market traded in a technical range early(I tried to buy $934.00...low was 936.00) and with the help of a WEAK U.S. Dollar the Gold rallied along with the Crude Oil (based on OPEC reports of production reduction).....REPORTS FOR 2/27....NEW HOME SALES 9:00 AM. CST...
HIGH...950.50 LOW...936.00 CLOSE...948.90..............
SWING NUMBERS FOR 2/27...APRIL GOLD....................
RESISTANCE #2.............................959.00
RESISTANCE #1.............................954.00
PIVOT...............................945.00
SUPPORT #1...................................939.50
SUPPORT #2...................................932.00...........................
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Monday, February 25, 2008

GOLD CLOSES $7.30 LOWER TODAY........................

With news of Oil inventories high and rumors surrounding an IMF (G7) Gold auction upcoming the Gold market broke $14.00 Dollars in a very short period. The Gold market was probaly was lucky to receive news out of South Africa...mining operations shut down due to earlier electonic (FIRES) problems may remain closed for repairs for years to come.(LESS PRODUCTION)...
REPORTS TOMORROW....PPI......7:30AM. CST. & CONSUMER CONFIDENCE..9:00AM...CST.....................SWING NUMBERS FOR 2/26...APRIL GOLD......
RESISTANCE #2.........................959.00
RESISTANCE #1.........................949.00
PIVOT........................942.50
SUPPORT #1...............................934.00
SUPPORT #2...............................926.50

HIGH...............951.50 LOW................936.00 CLOSE...............926.50............

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Wednesday, February 20, 2008

GOLD CLOSES UP $ 8.00 TODAY...........

It was truly a tale of two cities today. the gold market reacted off a VERY srong U.S. Dollar sold off early and blew through all my support levels and traded as low as $916.50.
The flipside of this trading session took place thanks to a weakening U.S. Dollar and a Crude Oil rally. The Gold showed extreme strength and actually closed at $937.80...(a $22.90 RANGE)...
REPORTS FOR 2/21 THURSDAY...JOBLESS CLAIMS...7:30 AM. CST....THE FOLLOWING ARE MY SWING POINTS FOR 2/21...APRIL GOLD...............
RESISTANCE #2..................................954.00
RESISTANCE #1..................................946.50
PIVOT...............................931.50
SUPPORT #1........................................923.50
SUPPORT #2........................................908.50..........

TODAYS NUMBERS.....HIGH...939.40 LOW...916.50.... CLOSE....937.80......

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Tuesday, February 19, 2008

GOLD CLOSED UP $23.70 TODAY................

Today's Gold trade was extremely Bullish thqanks to several news reports.
The texas Oil refiery explosion in Big Springs, Texas not only caused the refinery to shut down it contributrd to Oil prices rising $3.70 per barrel today(at the Gold close). Remember in my opinion..Gold and Crude Oil are both ANTI U.S. DOLLAR and trend together the majority of the time. Suisse Bank cut rates....rate cuts = strong GOLD. Exxon and Venezuela are feuding over Oil production. These are all very negative Dollar and BULLISH GOLD.
Reports tomorrow 2/20.....Wednesday............CPI.........HOUSING STARTS & PERMITS...7:30 AM. CST.......HIGH...934.20 LOW...925.00 CLOSE...929.80...................
SWING NUMBERS...2/20....WEDNESDAY...APRIL GOLD...............
RESISTANCE #2......................................938.00
RESISTANCE #1......................................934.00
PIVOT..................................929.50
SUPPORT #1............................................925.00
SUPPORT #2............................................920.00

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Friday, February 15, 2008

GOLD CLOSED $4.80.LOWER TODAY.........

Today's gold trade was extremely volatile and traded in a 18.20 point range.
Gold began positive and failed to crack the technical resistance and avalanched through the support levels. HIGH....919.00 LOW...900.80 CLOSE...906.10..................
EXCHANGE HOLIDAY MONDAY*****PRESIDENTS DAY*******
RESISTANCE #2........................926.00
RESISTANCE #1........................916.50
PIVOT...........................908.50
SUPPORT #1..............................898.00
SUPPORT #2..............................890.00
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Thursday, February 14, 2008

TODAY'S GOLD TRADE CLOSED UP .60 CENTS......

Today's Gold session traded in a $10.10 point range that was very technical.
The trading community listened and reacted to FOMC Chairman Ben Berhnanke discuss the economy of the United States. There certainly were mixed signals. (suggestions of further rate cuts and worries about inflation to name a few). In my opinion future rate cuts continue to be a Band-Aid. The housing sector is without a doubt the back bone of the American economy.
HIGH...915.80 ......LOW...905.70.....CLOSE....910.80...............
The U.S. Dollar was 29pts. lower and the Crude Oil was 115 higher at the Gold session close.
guide-line numbers for FRIDAY 2/15.....APRIL GOLD..................
RESISTANCE #2...................921.00
RESISTANCE #1...................916.00
PIVOT.........................911.00
SUPPORT #1.........................906.00
SUPPORT #2.........................901.00

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TODAY'S GOLD TRADE CLOSED .60 CENTS HIGHER.........

Today's Gold session traded in a $10.10 point range that was very technical.

Wednesday, February 13, 2008

GOLD CLOSES DOWN.90 CENTS TODAY.....

The Gold traded in a choppy $12.00 point range. However the trade itself was not as volatile and appeared to go back to a technical trade.when trading Gold you must remember we are trading all time high's and there is nothing to base past performance on. If the present economic situation continues (foreclosures,credit crunch, war enviorment, and higher jobless rates to name a few) the Gold should continue to rise. But when trading Gold always remenber "investors often sell their metal positions to protect their Stock Portfolio's." This often causes an avalanche effect. REPPORTS...2/14....EXPORT SALES...JOBLESS CLAIMS...7:30 AM. CST...
HIGH...913.50 LOW...901.50...CLOSE...910.20..............
RESISTANCE #2........................920.00
RESISTANCE #1........................915.00
PIVOT..........................908.00
SUPPORT #1..............................902.50
SUPPORT #2..............................896.00......................
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Tuesday, February 12, 2008

GOLD CLOSES $15.60 LOWER TODAY...........

YIKES !!!!! Today's Gold session traded in a 15.60 point range that was extremely CHOPPY and VOLATILE. Warren Buffet announced his support for AAA BONDS and I believe many traders decided to take profits in the Gold . The sell-off broke support levels and touched off STOP-LOSS ORDERS causing a major re-tracement in the Gold market.
REPORTS FOR 2 / 13....RETAIL SALES & HOUSING STARTS...7:30 AM. CST...
HIGH......924.50............LOW......908.00 ........CLOSE.......911.10....................
SWING NUMBERS FOR 2/13...WEDNESDAY....APRIL GOLD......................
RESISTANCE #2........................931.00
RESISTANCE #1........................921.00
PIVOT..............914.50
SUPPORT #1..............................904.50
SUPPORT #2..............................898.00
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Monday, February 11, 2008

GOLD CLOSES UP $4.40 TODAY............

Today's Gold trade was very CHOPPY and traded in a $9.50 point range.
The Gold ignored the U.S. Dollar today and seemed to shadow the extremely volatile Crude oil.
The market held technical support ...holding ( $920.00) the interday PIVOT.
HIGH..........929.50 LOW..........920.00 CLOSE..........926.70....................
THE FOLLOWNG ARE MY SWING NUMBERS FOR TUESDAY 2/12....APRIL GOLD..........
RESISTANCE #2.......................935.OO
RESISTANCE #1.......................931.00
PIVOT...................925.50
SUPPORT #1.............................921.50
SUPPORT #2.............................916.00
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Friday, February 08, 2008

GOLD CLOSES $12.00 HIGHER TODAY.....

The Gold market remained very strong today and closed up $12.00.
The Gold market reacted to a weak U.S. Dollar(32 points lower) and a very BULLISH Crude Oil market (300 higher). I bought more BULL CALL spreads today. The market remained very CHOPPY and VOLATILE and all idications point to more of the same.
HIGH...924.50 LOW...914.00 CLOSE...922.00
The following are my guideline / swing numbers for Monday 2/11....APRIL GOLD......
RESISTANCE #2........................930.00
RESISTANCE #1........................926.00
PIVOT.....................920.00
SUPPORT #1..............................915.50
SUPPORT #2..............................910.00

TRADE SMART / TRADE GOLD / CALL ME....888-282-2770........

Thursday, February 07, 2008

GOLD CLOSES UP $5.00 TODAY.....................

Despite a very strong U.S Dollar today(up 80+ plus at the Gold close) the Gold market closed up $5.00 on the day. The Gold traded in a large $14.00 point range today with continued volatility.
The crude Oil was also 40+ higher at the gold close. HIGH...914.50...LOW...901.00...CLOSE...910.00........................
The following are my swing numbers for Friday 2/8...............April Gold.............
RESISTANCE #2.........................922.00
RESISTANCE #1.........................916.00
PIVOT.........................908.00
SUPPORT #1...............................902.50
SUPPORT #2...............................895.00.............

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Tuesday, February 05, 2008

GOLD CLOSED DOWN $19.10 TODAY......

The Austrailian's raised their rates over night putting pressure on both the Euro and the Japanese Yen which in turn was VERY bullish for the U.S. Dollar. Remember Bullish Dollar =Weaker Gold (most of the time). The U.S Dollar was 79 points Higher today...The Crude Oil was 200+ points Lower and the gold market dropped $19.10 on the day.
The gold market traded in another wide, choppy, and very volatile range today, however it also traded in a technical range. HIGH...902.00 LOW...888.50 CLOSE...890.30...........
THE FOLLOWING ARE MY SWING NUMBERS FOR WEDNESDAY 2/6....APRIL GOLD....
RESISTANCE #2..............................906.00
RESISTANCE #1..............................897.50
PIVOT...........................893.00
SUPPORT #1....................................884.00
SUPPORT #2....................................880.00

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Monday, February 04, 2008

GOLD CLOSES $410.00 LOWER..........

Another wild west day. Another huge range ($14.00 pt.). Another CHOPPY and Volatile session.
WELCOME to the world of trading GOLD. For traders who love volatility with volume ...this is the Market for you. I believe his will continue for months to come.After failing to hold early support the market rallied HARD the last hour of the trading session and showed great resilence.
HIGH.......910.00 LOW.......896.00 CLOSE.....909.40............
THE FOLLOWING ARE MY SWING NUMBERS FOR 2/5...APRIL GOLD (TUESDAY)......
RESISTANCE #2.....................919.00
RESISTANCE #1.....................914.00
PIVOT........................905.00
SUPPORT #1...........................900.00
SUPPORT #2...........................891.00

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