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Friday, July 30, 2004

Well, GDP did come in lower than forecast. Gold was up $4 but the dollar did not fall, which was interesting. The XAU rallied but not that much, only up a little over a point. NEM climbed 90 cents. My options gained some ground. I almost sold them but decided to wait it out a little longer. The technicals are all still pointing towards higher prices. The Dow gained 10 points, advance/declines were positive. The volume was weak however and I think we are running out of steam here. I will be looking to buy some OEX puts next week for a short term trade. We've got the employment report at the end of next week. That will probably be the catalyst for a move one way or the other. Don't have a good read on that just yet. Might be back here this weekend but it is summertime...

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