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Thursday, December 21, 2017

Back to the upside today as the Dow gained 55 points on light volume.  The advance/declines were positive.  The summation index is moving sideways.  We were up over 100 at one point during the session but faded in the afternoon.  It is already feeling like holiday mode for the markets and tomorrow should be a non event.  I'm expecting a drift higher for the next week.  Not much else to report.  GE was basically flat on the day and came off of its highs as well.  My order for the January calls remains open.  Gold and the US dollar were flat today as well.  It is that kind of atmosphere.  The XAU and GDX had slight fractional gains on light volume.  Mentally I'm feeling OK.  Nothing new to report with the holiday approaching.  We are basically going to grind to a halt, with no meaningful activity until the new year.  We may see a mild Santa Claus rally but we've had such a good year already that I don't expect any big gains anytime soon.  I could be wrong but probably not this time around.  I'll still try and get my GE option order filled before the new year but at this rate I may have to increase what I'll pay for them.  We'll see.  Asia was mixed and Europe higher overnight.  We'll finish up the week tomorrow ahead of a long holiday filled weekend.

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