by Mike Daly
DALY GOLD REPORT 2/24
2/24/2010
Gold Settles $6.00 Lower Today… ($1097.20)
More bad economic news as U.S New Home Sales
unexpectedly fell to its lowest level on record.
Purchases declined 11% sending a strong signal
that the government tax credit extension may not
be enough to fuel demand.
3 Million Homes are expected to be repossessed
this year as the continued rise in unemployment
is finding Americans unable to make their
mortgage payments.
Federal Reserve Chairman Ben Bernanke said
“the U.S. economy is in a “nascent” (emerging)
recovery that still requires low interest rates to
encourage demand by consumers and businesses once
federal stimulus expires”.
The Chinese recently reported that purchasing
IMF Gold at these levels was unattractive.
They are the world’s largest consumers of Gold
and have boasted their intentions to build their
reserves from 1500 metric tons presently up to
the 10,000 metric ton level in 10 years.
A good poker player never tips their hand!!!
REPORTS: 2/25
EXPORT SALES……………….7:30 am (CST)
INITIAL JOBLESS CLAIMS….. 7:30 am (CST)
MY SWING NUMBERS 2/25 ….APRIL GOLD
RESISTANCE # 2…………$1118.00
RESISTANCE # 1…………$1108.00
PIVOT……………...... $1099.00
SUPPORT # 1……………..$1089.00
SUPPORT # 2……………..$1080.00
Let’s talk GOLD…………
Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-775-3014
312-563-8029
*There is Extreme risk trading futures,options, and forex*
Mike Daly
PFGBEST Broker
(312) 775-3014
mdaly@pfgbest.com
DALY GOLD REPORT 2/23
2/23/2010
Gold Settles $9.90 Lower Today… (1103.20)
The Gold and U.S stocks sold off after the
Consumer confidence report revealed a huge
decrease in confidence and reaching its
lowest level since April 2009. Investors
use the Consumer confidence and the jobless
claims as a gauge to the Stock Market.
Investors are convinced the economic
rebound will remain a slow process.
Fomc Chairman Ben Bernanke is scheduled
to testify before Congress (Wednesday &
Thursday) and this has investors concerned
and side-lined and taking a wait and see attitude.
After last Thursday’s discount rate hike many
investors have concerns Interest rates may be
raised in the near future.
A Gallup-poll revealed that 19.9 % (30 Million)
of Americans are under employed….
Reports: 2/24
New Home Sales……..9:00 am (CST)
My Swing Numbers 2/24….April Gold
RESISTANCE # 2………$1130.00
RESISTANCE # 1………$1116.00
PIVOT…………………..$1108.00
SUPPORT # 1…………..$1094.00
SUPPORT # 2…………..$1086.00
Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-775-3014
312-563-8029
* there is extreme risk trading futures,options,and forex*
Mike Daly
PFGBEST Broker
(312) 775-3014
mdaly@pfgbest.com
DALY GOLD REPORT 2/22
2/22/2010
Gold Settles $9.00 Lower Today… ($1113.10)
The opinions in the Gold market remain mixed as
traders watch the U.S Dollar to seek direction.
The Globex contract traded as high as $1131.50
early in the session but could not sustain that gain
as the mid to late session U.S. Dollar surge pressured
the Gold sending it $9.00 lower on the day.
Technically the $1125.00 level is very pivotal and
the Bulls are seeking a close over that level to
change the trend from sideways to bullish.
The Bears are looking for a close below $1110.00.
As a gold trader you should be trading off the
U.S Dollar as everything coming out of Europe
seems to left to interpretation.
REPORTS: 2/23
Consumer Confidence……7:30 am (CST)
My Swing Numbers 2/23….April Gold
RESISTANCE # 2………..$1139.00
RESISTANCE # 1………..$1126.00
PIVOT …………………….$1118.00
SUPPORT # 1……………$1105.00
SUPPORT # 2……………$1097.00
Mike Daly / Gold Specialist
PFG Best
mdaly@pfgbest.com
877-294-4669
312-775-3014
312-563-8029
*There is extreme risk trading futures,options, and forex*
Mike Daly
PFGBEST Broker
(312) 775-3014
mdaly@pfgbest.com
There is a substantial risk of loss in trading futures and options.
Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
