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Friday, April 27, 2007

The Dow rose 15 points today on light volume. Advance/declines were negative. Another pause before a rise? Like the last time this happened a few days ago? Who knows? But we just cannot go on like this forever, can we? The GDP was weaker than anticipated. However nothing really seems to bother the market these days. Most of todays gains were due to GE and Microsoft. Usually when the market advances due to just a stock or two, it isn't a healthy sign. Gold was up over $4 today and the XAU rose half a point. Lackluster really as I think this market senses lower prices ahead. The dollar was weaker but nobody is rushing to purchase the gold shares. In fact the dollar has dropped quite a bit in the past few weeks and the gold shares really didn't do as much as you would think. I'm going to purchase some calls here the next buy signal that I receive. However there is no timeline for when that will occur. Mentally I'm feeling fine with a good nights sleep last night. I'm doing the work necessary for a chance at profits. Perhaps there will be some opportunities in May. The weekend is here and I will check the charts...

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