Friday, July 02, 2004
The Dow was down 50 points today. Employment came in less then expected. The volume was weak ahead of the long weekend. The advance/declines were solidly positive. Interesting. I'm thinking of getting some calls next week perhaps. The weekend will give me a chance to check the dailies, weeklies and monthlies. Gold was up a couple bucks as the dollar was weaker. The XAU was up almost a couple points and NEM was up a point. The options purchased yesterday are showing a small profit and the August calls are starting to come back a bit but are still under water. Timing is everything. That's a lesson that can't be stressed enough. Of course when a trade starts to move your way you start to think that maybe you might know something. Don't be fooled. You don't know anything. The market moves where it does regardless of your trades. The overall market is puzzling right now, with strong internals yet lower prices. Imagine what might be happening if the internals were weak. Mixed signals but I'll check things over the weekend. And give my thought on the economy...
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