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Thursday, June 03, 2004

10 minutes to go. Dow down around 50 points, OEX down, gold down, XAU down, NEM down. OEX relieving its overbought condition. I still think the trend there is up and will look now to get long when I feel it is appropriate. Early next week possibly, depending on what happens tomorrow. The XAU needs to get back to the weekly uptrend line for a long position to be established. I feel that will happen within the next couple of weeks, hopefully. There was a good sell signal for the OEX here but the options I was looking at were priced too high. I think this pullback is just a breather. I'll have to check where support comes in and look to get long there. I think that idea will work. But nothing is for certain when it comes to the markets. Bias to the upside though, I still believe. Dow now down 60 near the close. Tomorrow beckons...

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