This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Thursday, May 11, 2006
The Dow finally got going someplace today and was down 141 points. Advance/declines were over 3 to 1 negative and the volume was heavy. I didn't purchase any OEX puts so I have missed it for now. We should get a sell signal on the summation index today and I will try and get short on any snapback. Gold was up over $10 today but the XAU was down over 2 and a half points. This could be the point that I have been waiting for. Or not. ABX had a one day reversal and the put volume expanded a lot. I will maybe look to buy some puts there. NEM was not down as much and I think this could be the turn. And when this thing falls it will be a stampede. I will probably try it. You've got to take some risks in the game or you won't get anywhere. Whatever I decide, it won't involve a lot of money since I'm not totally sold on anything here, technically. Mentally I'm a little down for not getting some puts yesterday as I suppose I just wasn't paying enough attention. We have some inflation numbers next week and if we drift into those, I will get short before the CPI. That was one of the ideas lately. We'll see. I did not sleep well last night but that has nothing to do with missing opportunities. It's a very difficult game to play. You always have to pay attention and keep at it. I try. But sometimes it's just not good enough. Gotta keep going though, there is still time to make some money on this option cycle...
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