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Thursday, January 14, 2010

The Dow gained 30 points today on light volume. Advance/declines were positive. Still grinding our way higher. That can't last forever. Expiration tomorrow. No good signals to trade for me here. So it's patience and the sidelines. Gold was up $6 but the XAU fell 1 1/2. ABX, GG and NEM all had fractional losses on light volume. The uptrend line since last July is still holding for the gold shares but I get the feeling it won't much longer. When gold itself rises and the gold shares don't show any gains, it's not a good sign. Mentally I'm feeling a bit tired. I was in a meeting most of the day and was not in my usual market routine. Same story tomorrow. We'll get through expiration and go from there.

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