Thursday, December 27, 2007
Well it isn't a quiet holiday week as the Dow got clobbered and lost 192 points. Volume was light and the advance/declines were 3 t0 1 negative. Negative moves such as this are not common for this time of year. There were some outside influences as there was an assassination in Pakistan. But still, the market action wasn't typical for a holiday week. Gold was up a couple of bucks but the XAU lost 1 3/4. I would have thought gold would have rallied a bit more considering. ABX was higher and NEM was lower on increased volume. If the gold shares pull back here, I'm getting long. GE held up pretty good, only down 35 cents. The relative strength has been very good lately but I'm still probably gonna dump the calls for a loss and start the new year flat. GE would really have to rally in the next 2 days to keep me in this trade and I doubt that will happen. Mentally I am feeling fine. Slept pretty good. Getting ready for next year. Looking forward to putting this terrible year behind me. Nothing is easy in the game, this much we know. I'm really going to have to regain my focus for the new year and I'm sure I can do that. Success requires discipline and that is what I will work on the most. It isn't easy but it can be done.