This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Monday, July 11, 2005
The Dow rose 70 points as the rally continues. Volume was OK and the advance/declines were over 2 to 1. New highs are expanding so this could go on a while longer. Possible McClellan oscillator divergence setting up though. Time will tell. No trades for the OEX in the works right now. Gold was up around $3 and the XAU rose almost 2 points. Volume was nothing special. Trade data out on Wednesday and that could be a mover. Weekly XAU almost looks like a breakout and if so I will have to get long something. Hard to say. Technicals are oversold on a daily basis for the gold shares. 4 days until expiration and I should probably just sit it out. Mentally things are looking up but it's a roller coaster ride sometimes and my head is not totally together. It will get better.
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