Pageviews past week

Monday, October 23, 2006

The market was up 114 points on good volume. Advance/declines were positive but not by a lot. How long can this go on? Nobody knows. But the internals are starting to get weaker on the advance. The McClellan oscillator has another non-conformation. Eventually there will be a decent decline. I have tried to pick it and now I have stopped. The market is not functioning under normal circumstances. It is a momentum run and they never finish good. Something will trigger the inevitable reverse. Perhaps the Fed on Wednesday. But it is all just a guess. Gold was down over $13 and the XAU rose a point and a half? Try and figure that out. The gold shares had good volume. It makes no sense. I would still like to get some ABX calls but I won't overpay for them. This too, is not the conventional movement given the change in the underlying. What am I to do I ask myself? Sit tight for now I suppose. Mentally I'm confused and so I must wait for better times I guess. But we all know how that goes. Most of all I must protect myself from myself and what a difficult challenge that always is. So it goes with trading. Perhaps tomorrow will shed some light on things.

No comments: