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Friday, May 01, 2009

We ended the week on a positive note as the Dow gained 44 points on average volume. Advance/declines were positive. Beginning of the month money flows probably helped things here. We are getting near a possible sell signal but it isn't quite clear just yet. I think that we will see some weakness in the beginning of next week but I'm not sure if it will last or if it's trade worthy. I'll check things out this weekend. Gold lost around $5 today while the XAU was up 1/3. ABX and GG were flat while NEM lost around 1 1/2. Volume was the usual light. NEM has been the leader and I don't like the fact it was down so much. I suppose I may as well wait for the GG earnings at this point. Regardless, the GG call trade will be a loser. Mentally I'm feeling OK. Lots of info next week with the bank stress tests and the employment report. I'll check the charts over the weekend and go from there. For now, time for a break.

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