This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Wednesday, February 23, 2005
We bounced back today. The Dow was up over 60 points on good volume but less than yesterday. Advance/declines were almost 2 to 1 positive. I suppose I will be looking to buy some OEX puts. Maybe a day or two more of bounce. I could be wrong. I need to see where the downtrend line comes into play. The dollar was up a little today after yesterdays drubbing. Gold sold off and came back but did not gain anything. ABX was down a few cents and is stuck below $25. It should take a rest here but I am worried that perhaps the gain is over. The weeklies say otherwise though. NEM was up about a quarter on good volume again and I did put in an order to buy some March calls but the price has moved away from me. Perhaps a pause is due for gold here but I still think the dollar will get weaker and the gold shares will continue to rise. It isn't easy in the game as we all know. Still a couple days left this week so we'll see what happens. The inflation data today was tame. I don't know, perhaps yesterdays sell-off was a climax. I'm not sure but I'm still gonna believe it was the beginning of something bigger. Trading is a solitary pursuit. You must make your choices and live with them. There is nothing else to it than that.
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