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Monday, December 07, 2009

The Dow was up a point today as we closed about in the middle of the days trading range. In other words, indecision. Volume was nothing special and the advance/declines were positive. The S&P along with the NASDAQ were lower. We will break out of the trading range eventually and it's probably a wise move to wait until that happens. Which doesn't mean that I will of course. However I have no OEX trades in mind right now. Gold continued lower, off $5 on the futures and lower in the aftermarket. The XAU lost 3 points. ABX and NEM had fractional losses after being lower early. GG lost about a buck. Volume was pretty good again. I'd expect a bounce here soon but don't think that I'll try and play it. I'm going to look at the January calls. That should be the next trade as of now. But you never know. The dollar bounced around today and closed lower. Mentally I'm feeling OK. 9 days in the December option cycle. I'll look things over again tonight but I don't see any decent signals at the moment. Not a lot of data out this week. We've got the Fed rate decision next week. So it still looks like a time to be patient for now. We'll see.

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