Thursday, December 22, 2005
The Dow was up 55 points on light volume. Advance/declines were positive. It is the holiday season. Volume will be light and the movement will have an upside bias. At least it should. GE was up about 30 cents on light volume. I am leaving in my GTC order and it doesn't look like it will be filled. We haven't gotten to the trendline as yet and may not for all I know. We'll see. But I think that at this rate I am pretty much done for this year. Gold was up 9 bucks and the XAU rose 2 and a half points. I guess I better keep an eye on this also. But the extra week on the options means that we are just arriving at the normal cycle. The market has moved higher and the OEX calls have barely budged. That is the trouble with extra time. Movement in the indexes doesn't necessarily mean movement in the option price. Mentally I'm doing fine with an extra half hour before going to work making for no time pressures. I'm looking forward to taking it easy over the long weekend and think that tomorrow will be a snoozer too.
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