Pageviews past week

Wednesday, March 15, 2006

The Dow was up 58 points on better volume. Advance/declines were almost 2 to 1 positive. The Transports hit a new high. We have broken out of the S&P trading range to the upside. All systems point higher I guess but we will have to wait and see just how far this goes. Could be an options expiration event. Could be for real. Gold was higher early but backed off and was only up around a buck. The XAU rose about 2 and a half points though. Unfortunately ABX did not go along for the ride. It was only up a few cents. The options are now almost breakeven. I'm giving it until the end of the month and maybe not even that long. I don't know what to expect but I was pretty positive when the trade began. Getting back to the overall market, we are overbought and on a trin basis also. You can't argue with price action though and we have moved higher. We'll see what happens. Mentally I am doing better. Got plenty of sleep last night. I really need this ABX trade to be done right. It's up to me. The trading so far this year has been terrible. I have the parameters for this trade and it will be up to me to keep them. I've got to remember not to get greedy. I'm hoping this trade will launch me into a series of decent actions and not into a year of abysmal abyss. Time will tell...

No comments: