Dave,
Everything said about CAC is true and under-stated. I use it every time I can, and yes you would need to purchase the special holder from a company called "ARCAIR".
However, I would not recommend gouging with your new Yellow 161.
Gouging requires at least 200 amps for the smallest rods and is very rough on machines. Think about it like running your pretty new yellow 6 cylinder sports car around a track as fast as it would go while stopping and starting every minute. It would do it for a while, but why burn it up so quick?
You would be better off buying some old, cheap, heavy duty stick welder to use for gouging.
Tim