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Tuesday, February 08, 2005

Another nothing day in the market. The Dow was up 8 points with light volume again. Advance/declines were slightly positive. We are marking time. For what, I don't know. At least there is no decline, so the sellers are at bay for now. Not much movement in the dollar, gold or the gold shares. Volume was good in the gold shares though. My call options have not been stopped out yet. Perhaps the trade number on Thursday will be a catalyst. There really is nothing else out there to be reported this week. So here we are, in the midst of winter, trying to make money. February options will wind down next week. The XAU really needs to hold on here or I'm dead. I'm betting that it will. If it doesn't it will be a major shift in the gold market. I expect that the trade number will go down though and that's not going to help the cause. I could be wrong but that is when the recent rise in the dollar started. Anything over 60 billion for the trade deficit would be a plus. Patience.

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