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Tuesday, April 13, 2010

The Dow managed another 13 points to the upside today on average volume. Advances barely beat out declines. We sold off early and came all the way back. Still overbought and have been for quite a while. It is option expiration week. Summation index moving sideways but prices remain moving higher. No OEX trades for now. Gold lost $8 today and the XAU dropped 1 1/4. ABX and GG had fractional losses, while NEM was up 1/4. Volume was light. It's possible that today was the day to get long the gold shares. We were lower early in the day and came back. The rest of the weeks action will determine if today was actually the day to get long. There hasn't been much volume or price movement on the down days. Mentally I'm feeling tired and unfocused. I need to get back into the proper frame of mind to trade. I've been distracted lately and there will be no success in that type of atmosphere. I realized this, did not try to push it and will go from here.

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