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Monday, December 20, 2010

A quiet day as expected as the Dow lost 13 points on light volume. Advance/declines were slightly positive. The overall market was stronger than the Dow. It should be an uneventful week. GE was flat on light volume. My January calls lost some ground on the time decay. That is to be expected but I don't think it will be terminal. But you never know. Gold gained $7 and the XAU was up 1 1/2. ABX up 1/4, GG up 1/2 and NEM up 3/4. Volume was light. The technicals here are oversold and I will be looking to get some January calls in the next few trading sessions. The dollar was up today as well but gold was higher anyway. I still think that new money will be going into gold at the beginning of the new year. This should be beneficial to the gold shares if it indeed does occur. I'm trying to be patient with the purchase though. It's a shortened trading week and volume is thin. There is potential for time decay in these options as well. Mentally I'm feeling OK. Not much else to report. I'll be keeping an eye on the gold shares.

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