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Friday, November 13, 2009

Back to the upside as the Dow gained 93 points. Advance/declines were almost 3 to 1 positive and the volume was light again. Moving sideways for now as the market decides which way to go. Option expiration week coming up. It's a tough call just which way we will go here. The prudent thing to do is to stay on the sidelines until there is a decent signal. That's the way I'm leaning right now. Could change over the weekend. Gold was back up as well, $10 to the plus side. The XAU rose 3 1/2. ABX and GG gained a buck, while NEM led the way again, up over 1 1/4. Volume was average for lately. Not sure I'll try the gold share calls here now but you never know. The optimum time has passed really. The dollar was back down today. Mentally I'm doing OK, slept well. With 5 days to go on this option cycle, the trading gets compressed and that really isn't my best time frame. But what is, this year? It looks like we could just have a sideways period next week. The summation index is not trending at the moment either. The smart thing to do could be just wait and see. Sometimes the hardest thing to do is to do nothing. So I'll check the charts over the weekend and go from there. Time for a couple days off and some rest.

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