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Monday, July 11, 2005

The Dow rose 70 points as the rally continues. Volume was OK and the advance/declines were over 2 to 1. New highs are expanding so this could go on a while longer. Possible McClellan oscillator divergence setting up though. Time will tell. No trades for the OEX in the works right now. Gold was up around $3 and the XAU rose almost 2 points. Volume was nothing special. Trade data out on Wednesday and that could be a mover. Weekly XAU almost looks like a breakout and if so I will have to get long something. Hard to say. Technicals are oversold on a daily basis for the gold shares. 4 days until expiration and I should probably just sit it out. Mentally things are looking up but it's a roller coaster ride sometimes and my head is not totally together. It will get better.

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