Friday, January 27, 2006
A rerun of yesterday, with the Dow up about 100 points. Advance/declines were almost 2 to 1 positive again and the volume was heavy. All things now look to point to higher prices. We are short term overbought though. I would like to find a place to get short knows? New highs are expanding and the summation index is pointing up. Perhaps I should just stay out. I will, for now. But next week will be a different story. Gold didn't move much today and the XAU was higher early but ended up just a tad. Watching it for now but no real gameplan there. Seems like there are some crosscurrents in the market here. I will have to check things over the weekend and come up with some ideas for next week. Lots of economic news with the Fed on Tuesday the most important I think. Perhaps I will get short before the announcement, if the market stays up until then. There will be a decent downmove at some point based on my indicators. When, is the question. Mentally I'm OK, not in peak condition but all right. I'm going to rest up over the weekend and get back at it Monday morning...
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