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Tuesday, April 14, 2009

We lost some ground today as the Dow fell 137 points on better volume. Advance/declines were 2 to 1 negative. No sense of panic here or much else of anything. We are meandering around here. It looks like I won't have any OEX trades this week at this point. 3 days to go in the April option cycle. We've been working our way higher in a trading range for a few weeks. I don't see any great shakes but I could be wrong. Gold lost a few bucks and the XAU fell a point. Kind of the same story here as well. Moving sideways for the last week and a half. ABX and GG slightly higher with NEM slightly lower. Volume slow once again. I'm leaving in an open order for GG May calls. It may take a while but I think the May gold share calls are the next trade. So we'll see. There hasn't been a lot of interest in gold lately but I'm willing to give it a shot. Mentally I'm a bit tired, did not sleep all that well. Expiration week continues and we haven't seen a lot of volatility. Sometimes you just have to be patient. It isn't easy. So I'm on the sidelines and waiting. And we'll go from there.

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