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Monday, January 13, 2014

A negative day in the markets as the Dow fell 179 points on average volume.  The advance/declines were almost 3 to 1 negative.  The short term upside that I was expecting has not materialized.  The summation index was heading higher but another day like today will change that.  No expiration week positive bias to speak of.  Caution will have to remain the main theme here.  GE was off 1/4 on average volume and was the forerunner of the move down.  Gold was up $4 on the futures and the US dollar was a bit lower today.  The XAU rose 2 points.  ABX, GG and NEM all sold off early and practically came all the way back.  Volume was average.  Perhaps I could have picked up some GG calls today but I was not physically or mentally in the game really today.  I had some minor surgery performed in the middle of the trading session and I'm still not up to par right now.  I'm cutting the blog short today and I'll hopefully be feeling better tomorrow.

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