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Monday, October 11, 2004

It was Columbus Day today so the trading was light. Dow up around 25 points, advance/declines slightly positive. I'm leaning for some calls into expiration if we get a pullback in the next couple of days. If not I'll try to stay on the sidelines. Gold was down around a buck. The XAU was down all day but made a late comeback to be down only 3/4 of a point. ABX was down a nickel and NEM was off a little, both on light volume. I'd like to roll out to the November calls on ABX but don't want to be early. Timing, as always, will be the key to profitability. I still think gold has a ways to go. And I still believe the big boys will run these issues up into the expiration on friday. The calls today didn't get cheap enough to buy though. GE was up and that bodes well for the OEX call speculation. Not really looking at anything else right now. Am wondering if there will be a terrorist attack before the election. Haven't heard a lot about that lately. Markets should be a little more active tomorrow...

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