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Wednesday, November 02, 2005

The Dow gained 66 points today on good volume. Advance/declines were 3 to 1 positive. We are going higher. The summation index has turned upwards. I will buy some OEX calls on any pullback, It will work. GE was up just a bit today and that isn't good for my options. I really need to see GE get going here. I don't think this trade will work. Gold bounced back $4 today and the XAU was up 2 points. But the volume was weak and we have stalled at a downtrend line. I need to see us get through this line on good volume to feel good about this. NEM was up a bit on light volume. That is the key. Volume. We really need it to pick up here for gold or this trade will be a loser. Employment number on Friday and that could hold the key.

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