This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Thursday, June 03, 2004
10 minutes to go. Dow down around 50 points, OEX down, gold down, XAU down, NEM down. OEX relieving its overbought condition. I still think the trend there is up and will look now to get long when I feel it is appropriate. Early next week possibly, depending on what happens tomorrow. The XAU needs to get back to the weekly uptrend line for a long position to be established. I feel that will happen within the next couple of weeks, hopefully. There was a good sell signal for the OEX here but the options I was looking at were priced too high. I think this pullback is just a breather. I'll have to check where support comes in and look to get long there. I think that idea will work. But nothing is for certain when it comes to the markets. Bias to the upside though, I still believe. Dow now down 60 near the close. Tomorrow beckons...
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