Friday, November 11, 2005
The Dow was up 45 points on holiday light volume. Advance/declines were positive. GE was up a few cents on light volume. The RSI on GE is near the top of the range and it is also up against the Bollinger band. The 50-day moving average looms at $35 also. Tough call. One week and I do not want it to expire worthless on me. That said, I think we will rally at some point next week. Gotta hope GE goes along with it. Not sure and don't like relying on hope. Gold was up over a dollar today but the XAU rallied over 3 points on light volume. NEM was higher but my calls are still losers. And there-in lies the rub. Overall the gold shares are higher but my particular one hasn't moved enough to show a profit. Should I have just stuck to the XAU, even though it is tougher to get filled on the orders because of the Philly Exchange? Hard to say. It is frustrating at times but I guess you've got to go with the vehicle that gives you a better chance for success. I notice the time premium is coming out of the XAU options rather fast with a week to go. That is another thing to take into consideration. NEM good still turn out to be a good trade. We'll see next week. I need to rest up now because it will be hectic next week before the slowness of Thanksgiving week sets in. The money to be made must be made next week.
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