Friday, June 10, 2005
The Dow ended up about 10 points on light volume. Advance/declines were about even. We were down for most of the day and then came back near the end. I did not get any OEX options. There isn't a clear signal yet. Might not get one before expiration. The trade number came out, it was about in line with expectations. Gold didn't do much early and the XAU was off a bit. However gold rallied a couple of bucks after that and the XAU took off. Up over 3 points. The gold shares moved higher on good volume. I guess it was a doji on the candlestick chart after all. NEM was up over a buck and the calls I bought yesterday have tripled. The entry timing was excellent this time out. I can't get too excited though because there is a week left and the exit must be timed good as well. It will be a moneymaker unless there is something dramatic over the weekend. There is talk of China floating their currency. That would most likely be positive for gold though. Not sure, don't know and will be checking the technicals over the weekend. The dollar was higher and that is something that has changed with relationship to gold. Can't figure it out but will try and follow the money. Still trying to get back the focus that has been successful for me in the past. Not an easy thing to do. I will try and relax over the weekend and get back to work here on Monday. It pays to be patient and pay attention. Not easy but it works...
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