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Wednesday, December 29, 2004

More light volume inaction today. The Dow was down 25 points on positive advance/declines. I bought some more January GE calls. Why? I guess I am a firm believer in this trade. We are right at the trendline. If it holds here than this will be a winner. I expect it to hold. I expect a pop for the beginning of the year, which I have stated again and again. I also put in an order for some Microsoft calls. It didn't get filled and I canceled it before the end of the day. Perhaps I am too bullish. Time will tell. Intel didn't do much today and my options didn't move. Gold got clobbered, down over $9. The gold shares did not follow and were only down slightly. Again the volume was light. Hard to figure this week. But with light volume you can't put much emphasis on what goes on. Next week will be the key. Pfizer continues to impress and was higher again today. Missed that one, I guess. And so we wallow around in the meantime. The next couple of days won't mean much.

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