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Monday, April 04, 2011

A quiet start to the week as the Dow gained 23 points on light volume. Advance/declines were positive. The indices opened higher and meandered throughout the day. Nothing has changed, the trend is up. GE gained 19 cents on the day but was higher early. Volume was light. I would still like to try the April 20 calls here if they drop in price in the next few days. We'll see. Gold gained $4 today and the XAU was up a point. ABX, GG and NEM were flat or had fractional gains. Volume light as usual here. The dollar didn't do much and was marginally higher on the day. The gold shares are overbought and if we get some pullback I'll try the May calls. That is the game plan for now. Mentally I'm feeling OK. Nothing has changed with regards to my trading ideas. GE would be the first trade followed by something with ABX or GG. GE would be very short term, with only 9 days left in the April option cycle. So I am remaining patient for now. I am not going to try and press anything here. We'll see if we get any decent movement in the markets tomorrow.

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