Pageviews past week

Tuesday, January 05, 2010

The Dow lost 12 points today but we were off more for most of the day. Advance/declines were positive and the volume picked up a bit. The overall market was stronger than the Dow. Not exactly overbought yet but we're getting there. Might just be on hold until the employment report on Friday. No OEX trades for now. Gold was little changed but was up early. The XAU gained 2 points. The gold shares had fractional gains and the volume was nothing special again. We were lower at one point and I thought that I was going to be stopped out of the ABX call trade but we came back late in the day. The calls are back where I bought them. The dollar was up a bit. Here too we could just be waiting on Friday. I don't know if this trade will last that long though. I'll check things out tonight. Mentally I'm feeling OK, could have slept longer. I guess it's a waiting game now. 8 days on the January options and my calls are out of the money. We did get some buying in gold yesterday as expected but I haven't seen any follow through. Not overbought yet so there is a chance that this trade will still work. However time is not on my side now and the possibility of getting stopped out looms large. If so it's on to the next trade regardless and I don't have any ideas for that at the moment.

1 comment:

Anonymous said...

Don't stop making money... Money is material!