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Thursday, December 24, 2020

A half day of trading and the Dow gained 70 points on very light volume. The advance/declines were positive. The summation index is trying to turn back up. They really should just consider taking the whole day off before Christmas. GE lost about twenty cents on teh same extremely light volume. Gold was up five bucks and the US dollar was little changed. The XAU and GDX had fractional gains on minimal volume. I've left my open order for the GDX January calls out there. Mentally I'm feeling OK. The VIX was lower and is heading back to oversold. We'll see if it can get through the 20 level this time around. If it does that will mean a decent rally in stocks. Hasn't happened yet. Europe and Asia were higher overnight. Another short week next week. We'll see how many traders make it in. The Santa Claus rally showed up on cue today. Will it continue for next week? Merry Christmas to everyone and enjoy the long weekend.

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