Monday, June 19, 2006
The Dow lost 72 points today on light volume. Advance/declines were about 3 to 1 negative. I would expect the advance/decline line to pick up here a bit. The summation index is pointing down and it can't stay that way forever. I'm not saying it will be a rip-roaring advance but we need to turn things around here. I have no trades in mind as my vacation looms. Gold was down over 9 dollars today and the XAU lost over 3 points. No trades there either as I will let a base develop if it can. I'm in kind of a standby mode with the vacation and all. Mentally I'm keeping an eye on things but there may not be any trades until August and maybe even not then. I need both the overall market and the gold market to stabilize here and set things up for when I get back. However the markets rarely accommodate you. And so it goes.
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