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Thursday, September 16, 2004

Another blah day in the market. Dow up 13 points on the usual light volume. Advance/declines were almost 3 to 1 positive. Market was higher on good inflation data then just drifted off for the rest of the day. Gold was off a little and so were NEM and ABX. I'm looking for some kind of trade but don't see anything worthwhile at this point. Perhaps after the Fed on tuesday there will be some kind of signal or direction. The dollar was weaker and gold couldn't move higher on that. Not a good sign for the longs. Internals of the overall market are solid yet no move higher is puzzling. Perhaps it is expiration related. I'm on the sidelines until next week for sure.

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