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Tuesday, September 14, 2004

Not much in the way of movement today. Yeah, the Dow was up a little and down a little. Ended plus 3 points. Light volume, advance/declines about even. I'd like to get short but probably shouldn't. Gold was up a buck and a half. The XAU was up good, around 1 and 3/4. NEM was up as well as ABX. Could those gold trades have worked out if I had held on to them? Only time will tell but it would have been extremely risky to hold them. The gold stocks have moved up in the last week of expiration for the past few months. My timing on the buy was off and that killed those trades. I should have waited and now I am stuck here in no mans land. Might have to get some October calls then. Inflation data on Thursday could be a market mover and we have the Fed meeting next week. The lack of volume is not a good sign for strength in my opinion and perhaps we have to go down once more before we get a good rally. Just a guess. Futures are selling off a bit here and the dollar is a bit weaker...

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