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Monday, April 10, 2006

The Dow gained 21 points on light volume. Advance/declines were negative. Not a real positive day. The summation index has turned down and that means selling. We are almost oversold and will be in a day or 2. There isn't any compelling reason to try and do anything here. I'll wait for a decent signal. But the trend, for now, is down. Gold was up 9 dollars today. However the XAU was down half a point. Interesting. It usually means gold is about to have some weakness but who knows? I'd still like to try some calls again before the expiration. But if we can't get any buying with a 9 dollar move, then what? NEM is about at its uptrend line but the other issues have already broken through to the downside. This is a tough call. Short week this week too with a holiday on Friday. I was expecting to just have the XAU hang around this week with some downside to set up a possible rally again next week. But it's just a guess. I'll check things this evening and go from there. Mentally I'm still getting over the cold I had last week and am taking it easy today. I am behind on some of my reading and probably should catch up on it today. I'm ready for the next trade, I guess but physically I'm still a little drained. There is no room for the weak in this game and I am keeping that in mind. It has already been a miracle comeback again this year, with all the lousy trading that I've done. I'd like to get it together and be a little more consistent with the successes. Wishful thinking at this point...

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