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Thursday, September 09, 2004

It seems like a market that wants to go higher. The Dow was down 25 points but advance/declines were positive and the volume picked up. GE continues to gain ground. The SPX and the OEX were both higher also. Gold lost a dollar and the XAU, NEM and ABX were fractionally higher. The options are still losers. It would take a miracle at this point just to break even. The dollar was higher today. The trade number tomorrow will be the key between a small loss or a big one for these gold trades. They are already predicting a huge deficit, so if it comes in less than that it could be viewed as a positive when in reality it really isn't. Doesn't matter now, my timing was off and losses are the result. Gotta get out and move on unless gold rallies big tomorrow. Not much else to say at this point...

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