Pageviews past week

Thursday, December 14, 2006

The Dow gained 100 points on good volume. Advance/declines were almost 2 to 1 positive. I had thought the market needed a decline and was wrong again. I almost put in an overnight order last night for puts when I got a signal from the McClellan oscillator. But those signals just haven't been working lately. There is so much money floating around out there that the only way to go is up I suppose. But it won't last forever. Inflation data tomorrow. I really don't expect any surprises. Gold lost a couple bucks today but the XAU rose over a point. Most likely in sympathy with the overall market. ABX was stronger than NEM now. NEM is having trouble getting through a multi-week downtrend line. The dollar was higher again today also. Options expire tomorrow. My thinking is that it will be a non-event followed by a couple of weeks of listless trading before the new year. That's my guess and I haven't been right about much anything in quite a while. Mentally I'm kind of in stand-by mode. I haven't come up with a gameplan for next year yet. My ideas for this year just didn't pan out. There isn't much to do here at the moment. I also missed out on GE, as I had just looked at the chart before it broke out. It had a decent double bottom but I really wasn't paying attention. You don't make any money like that.

No comments: