Monday, June 01, 2015
The Dow gained 29 points to start the month of June. The advance/declines were slightly positive and the volume was light. We bounced around and gave up half of the days gains in the final hour. The summation index is still heading lower but the TRAN had a good day. It appears that the market is still trying to make up its mind. GE was basically unchanged on average volume. The July calls here are still on my radar. Gold was off a buck on the futures which wasn't bad because the US dollar was higher once again today. The XAU and GDX had slight fractional losses on light volume. Short term oversold for the gold shares. Mentally I'm feeling OK. I looked all weekend for something to trade but there aren't any clear signals at the moment. The summation index is still pointing down and I'm going to follow that cue. I'm still in a cautious mode for now. If we head lower into the employment report, I may be tempted to try the June SPY calls on Thursday. But things will have to line up for that trade. I also still want to try the gold shares going out to October. But patience is probably a good thing for that idea. I also had an idea to trade AAL after reading an article in Barrons a week ago. However I do not follow the airline stocks per se and this issue has already moved higher. The June calls there were the proper choice. We'll keep an eye on the overseas markets tonight and go from there.