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Wednesday, April 15, 2009

A late day rally took the Dow up 109 points today on average volume. Advance/declines were 2 to 1 positive. Just looking to finish the week at this point for me. There won't be any OEX trades in this option cycle. It's no fun to wait around for a decent signal but you don't lose any money either. So patience is the key and here I sit. Gold was up a bit over a buck and the XAU rose 1 1/3. ABX, GG and NEM were all up around 1/2 on light volume. Nothing happening here as well. I'm leaving in my open order for GG calls but GG has been acting worse than the others lately. Not to worry, it will take a good drop to get filled. It's more sideways action here and there isn't much you can do about it. I'm still going to look for the May option cycle to do something with the gold shares. We'll see. Mentally I'm doing OK. I'm keeping an eye on things but I don't see anything trade worthy at the moment. I'll try and not do anything stupid in the next couple of days before expiration. Sometimes you have to be patient and this seems to me to be one of those times. Perhaps we'll be going sideways for some time but that's a guess. We'll see what tomorrow brings.

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