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Friday, February 02, 2007

The Dow lost 20 points on light volume. Advance/declines were positive. The employment report was weaker than anticipated and the market really couldn't make up its mind what to do. The overall market was stronger than the Dow. I think a shorting proposition with the OEX will present itself next week, I'm just not so sure it will have staying power. I'll check things over the weekend. Gold got slammed today, down over $11. The XAU didn't do too bad considering, off over 2 points. ABX and NEM were both down a bit but really held up quite well. I still want to get some calls here again but it will be tricky next week. The gold shares seem like they'd like to go higher but they are overbought here. The dollar was stronger today also. I'd really like to go out to March to catch the earnings but the options are expensive. I'll try not to do anything stupid but you never know. I don't think there is a lot of data coming out next week but I'll review things over the weekend and take it from there. Mentally, I will try and put this week behind me and try and make some money from here. 2 weeks are left on the February options. I need to do some more work...

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