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Friday, February 26, 2010

A sideways end to the month as the Dow gained 4 points on average volume. Advance/declines were positive. Not much to report today. Summation index still higher. I'm beginning to look at the OEX March calls for the beginning of next week. Medium term overbought here but staying there. Shorter term we are moving to oversold on the stock indices. I'll think about it over the weekend. Gold was up $10 and the XAU rose 1 1/3. ABX, GG and NEM all had fractional moves to the upside on light volume. The dollar was off a bit today. March is historically the worst month for gold over the past 30 years. That is something to consider in the short term. I have no gold share trades on the horizon unless I consider a GG earnings play. Doubtful for me at this time. Mentally I'm doing OK, slept better. Moving on to March and I'll try to get a better handle on myself. We've got the employment report in a week. It seems to me that the market wants to go higher here but I could be wrong. Plenty to think about over the weekend. It's time for a little rest though as Friday afternoon is upon us.

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