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Tuesday, January 25, 2005

Short post due to this site having problems, AGAIN. Dow up around 90 points on good volume. Advance/declines about even though so this is just a bounce, I believe. We shall see. Gold sunk today and the dollar was stronger. We have broken support on the XAU. There is a multi-week up trend line about 4 points away and I will be getting long if and when that line is hit. That is the next play. Either NEM or ABX. Both were down today. The dollar crossed 84 today and the resistance is at 85. Getting long gold at that point should work. That is what I have in mind. Otherwise it is a wait and see attitude for the market. There is a downtrend line in effect at this juncture. Summation index still pointing down. That's it for today.

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