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Thursday, July 01, 2004

The Dow ended down 100 points. Advance/declines weren't all that bad though. Volume picked up a bit. I've noticed the new lows have dramatically expanded in the last 2 days. No trades here for now but I'm thinking some calls might be in order shortly. Employment data tomorrow and a long weekend to follow. The XAU ended down a point and NEM was off 70 cents. We'll see tomorrow how this trade will play out. Possibly was dumb to pick up some more calls short-term here. The uptrend line must hold or it's a loser. But you gotta take some chances once in a while. And this isn't a huge trade, moneywise. Why would the Dow be so weak here? Do the powers that be know something about tomorrows report? Or could it be something else. I'll give some of my longer term views on the economy over the weekend.

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