Pageviews past week

Thursday, November 09, 2006

The Dow lost 73 points on heavy volume. Advance/declines were negative but not by as much as a down 73 market would indicate. That is a problem for me. The OEX puts didn't move that much even though we were down. I really think I need to dump them tomorrow but we'll see. We're not overbought or oversold here so anything could happen. There is no news tomorrow and I think it is a partial holiday for Veterans day. Gold soared today and was up over $15. The XAU rose 6 points as the dollar was weaker. NEM really did well as it has lately and was up 1 3/4. I bought some ABX calls. The volume was very heavy in the gold shares. Why did I get some calls even thought the move has already started? I am thinking that ABX will catch up with the rest of the gold shares. I did not think the order would be filled but it was. I could be wrong and it is a risky play. But the cost wasn't much higher than what I could have got them for yesterday. But the problem is that the action has been in NEM but the options there were way too expensive. We'll see what happens. I think I'm a bit more concerned about the OEX. It is a much harder instrument to trade. So I'll have to keep an eye on 2 positions. Mentally I'm feeling relatively good. Not sleeping as well as I would like but I'm not tired. Tomorrow will be interesting and I'll just have to see how the market goes. Option expiration week is next week so things will be skewed as usual. It is never easy...

No comments: