Pageviews past week

Tuesday, February 20, 2007

The Dow rose 19 points on light volume. Advance/declines were positive. We are short term overbought. I tried to get some OEX puts but my order wasn't filled. Inflation data out tomorrow. If we get a rally in the morning, I might try the puts again. We'll see. My hope was for a surprise number to the upside on inflation and a market drop. The fact that my puts didn't get filled leads me to believe that we will have a down day tomorrow. It's a guess. Gold was off about $12 today as oil was weaker. The XAU was off 2 1/2 points which really wasn't all that bad considering. In fact ABX and NEM were both down for the day but closed near their highs. Earnings out on Thursday. Do I want to get long here? I do but the charts are rolling over here. Perhaps the earnings won't matter. Also if we see weakness in the markets, the gold shares could go with it. I'm not sure what I'm going to do but maybe I'll throw a little money at the calls tomorrow. Mentally, I feel fine and I got plenty of rest last night. I have somewhat of an idea of what I'd like to do here, so we'll see what happens. Most likely, I should short any strength tomorrow. As for gold, I might have to let it go here. We'll see...

No comments: