Thursday, April 09, 2015
Moving higher now as the Dow gained 56 points on light volume. The advance/declines were only about even though. The summation index is heading up. Not sure what to make of things here. The short term technical indicators for the major indices have turned up but without any conviction. My SPY April calls are still showing a loss. GE was the star of the day, rising almost 3/4 on heavy volume. GE is selling its real estate portfolio and the market viewed it as a positive. Talk about a market miracle. My GE April calls are now back to break even. Perhaps I won't be waiting for the earnings report. Gold was off about $10 on the futures as the US dollar had a strong session yet again. The XAU and GDX had slight fractional losses on extremely light volume. Mentally and physically I remain tired. I'm hoping to be at full strength after the weekend. It's impossible to make the right decisions with a foggy mind. The overall market was stronger than the Dow today but the weak advance/declines says we may be in for a couple of days rest. Expiration week on the horizon and I'm banking on the usual positive bias. But the market will go where it wants. We'll close out the week tomorrow.