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Monday, October 09, 2017

We begin the week a bit lower on this semi-holiday as the Dow shed 12 points on very light volume.  The advance/declines were negative.  The summation index is beginning to move sideways.  The overall market was a bit weaker than the Dow.  We're still short term overbought for the major stock indices.  Inflation data and retail sales out this week along with the Feds beige book.  I'm not sure any of these will be real market movers but you never know.  I'm on the sidelines for now.  GE got pounded today on very heavy volume.  This stock lost almost a full point on extremely heavy volume.  Somebody resigned from the company and somebody else was placed on the board of directors.  Neither of these developments warrants the price action today.  I still like the longer term calls here but couldn't buy them if I wanted to.  More on that later.  Gold rose over $10 on the futures, while the US dollar was little changed.  The XAU and GDX had fractional gains on very light volume.  Mentally I'm feeling OK.  Why can't I purchase the GE longer term calls.  Well actually I could but not on the trading platform that I usually use.  My account at options express has moved over to Charles Schwab today and it's a disaster.  The real time quotes and charts at Schwab don't work.  The usual technical difficulties excuse on the first day of school.  Mind you they had months and weeks and days to get ready for this.  But they can't handle it and that is disconcerting for a trader such as myself.  The quotes and charts are basics to trading.  Options express had a very easy and clear way to look at things on a daily and intra-day basis.  I'm now stuck with Charles Schwab who obviously is in over their heads.  We'll see how it plays out.  The RUT looks like it rolled over today and if so we'll have to see what happens form here on out.  RUT led us up and perhaps it will now do the opposite.  All phases of the US markets will be back open tomorrow.  Europe and Asia were generally higher last night.  We'll keep an eye on the overnight action.

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