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Wednesday, March 17, 2010

The Dow continues higher, up another 47 points today. Advance/declines were over 2 to 1 positive and the volume was average. It's up, up and away. Has been for quite a while. The usual technical indicators don't work in an environment like this. Well overbought and staying there for days on end. Summation index still going higher. 2 days until expiration and we should just continue to advance I guess. My ideas haven't been working all year, so who knows? Gold was up a touch during the day but has sold off a bit on the futures. The XAU was little changed. ABX, GG and NEM had fractional moves one way or the other on light volume. The dollar didn't do much today either. The dollar is right on an important daily uptrend line that goes back for a couple of months. What happens to the dollar here could have implications for the gold shares. It's something to keep an eye on. Mentally I'm doing OK, slept well. So where do I go from here? A terrible first quarter of the year trading. I'll have to take a step back and regroup. Again. I'll keep doing the work and looking for the next perceived opportunity. My trading tactics have got to change or the results will be the same. Plenty to work on and think about.

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