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Friday, October 22, 2010

The Dow lost 14 points today on light volume. Advance/declines were positive. Today the overall market was stronger than the Dow. So here we are, continuing to grind higher. Summation index moving sideways. Nothing new to report. We had some volatility earlier in the week but it tapered off. No OEX trades in mind at the moment. Gold was flat on the day in the futures market. The US dollar as well. The XAU gained 1/3. ABX, GG and NEM all had fractional moves to the upside on light volume. ABX and GG report earnings next week. I would like to try some ABX calls before the earnings and I will if the option prices reach what I believe to be a decent level. I canceled the open ABX November call trade for the weekend and will look to enter it again on Monday. Mentally I'm feeling OK. Not much else to report here. We'll close out October next week. There is a G-20 meeting this weekend but it will be the usual talk with no concrete action. I'll check the charts over the weekend as usual and decide if there are any trades available. I am looking at a longer term GE option trade for January. We'll see. It's the weekend and time for a rest.

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