Wednesday, July 26, 2006
The Dow lost a point on good volume. Advance/declines were positive. We were up, we were down and ended even. The volume has been surprisingly good. The trend is up and the summation index is pointing higher. Gold gained a few bucks and the XAU was up a couple points. I'm waiting for a pause or a pullback here but I think I missed it. I will perhaps be able to get in within a week or so. I'd like to own some ABX calls before the earnings next week. But the technicals are already overbought. We'll see what happens. The options still are pretty expensive. And I'm a bit rusty from the vacation but then again what else is new? Mentally I need to get with it because the market waits for no one. It seems the thought is that the economy is slowing and that could help gold with a weaker dollar. Of course the opposite could be true too. GDP for the 2nd quarter comes out on Friday. Might be a mover...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment