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by Mike Daly

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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.