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Thursday, October 28, 2010

The Dow closed down 12 points today on average volume. Advance/declines were positive. The overall market was stronger than the Dow, Still moving sideways here but that could change tomorrow with the release of the 3rd quarter GDP. The summation index began to move lower. No OEX trades in mind at the moment. Gold was up $20 today as the dollar took a big drop despite weak economic data. The XAU gained 5 points. ABX and NEM rose about 1 1/2, while GG added 2 1/4. Volume was good in GG, average for the others. The earnings for ABX and GG were stellar. This was yet again another missed opportunity. The gold share calls that I wanted never got to my price and I should have made the adjustment. Had it not been such a dismal trading year so far, perhaps I would have been more aware and taken the chance. This failure mindset is yet another negative residual of a poor trading year. The gold shares had reached oversold again. The demand seems to be there regardless of the lofty prices. Mentally I'm doing OK, could have slept better. GDP in the morning and we'll see the markets reaction.

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