This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Monday, October 24, 2005
The Dow blasted off up 170 points today. The volume wasn't all that great but it was a Monday. Advance/declines were over 3 to 1 positive. The McClellan oscillator should be moving into positive territory today. I think the decline is over but I don't expect a straight up move from here. I do think we will rally once the Fed meeting gets out of the way. GE was up a little but my options are still under water. Plenty of time to go but I don't know. Gold was down a couple bucks but the XAU remained strong and was up a couple points. Those calls are in the black. Perhaps should have sold them here because we are short term overbought. But I'm waiting for higher prices and I think that will happen in the next 4 weeks. I could be wrong though and there-in lies the problem with trading. Ya just never know. I'm not feeling well physically so I am cutting this short today. Mentally I'm doing as good as can be expected at this point.
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