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Monday, March 14, 2011

An interesting Monday here as the Dow lost 51 points on average volume. We were down almost 150 during the day. Advance/declines were 2 to 1 negative. Overseas markets tanked but the Dow held up rather well. We'll see what happens tomorrow. Summation index still heading lower. GE fell almost 1/2 on heavy volume. I did put in an order for the April calls overnight and it was filled. I'm not sure this is a trade I want to be in at this point. However GE made a good comeback during the day as well. The calls recovered to break even. I'll have to ponder the trade this evening. Gold gained $3 today and the XAU lost 3/8. ABX, GG and NEM all had fractional gains on light volume. I also left in an open order for some April ABX calls overnight. It wasn't filled and I canceled it. I am still interested in this trade for later this month. The dollar was weaker today. Mentally I'm doing OK. Expiration week is upon us. There is usually a positive bias. However with global events as they are lately, anything goes. More oversold than overbought here on the stock indices. We'll see what tomorrow brings.

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