Tuesday, August 29, 2006
The Dow gained 18 points on light volume. Advance/declines were 2 to 1 positive. The volume was nothing but the A/D line implies higher prices as does some of my other indicators. I am waiting to buy puts. I will probably go out to October. Gold was down a few bucks today but the XAU sold off and then came all the way back to be up for the day. I was thinking of getting some calls here on the XAU or ABX. This could be the end of its correction. However the volume is so light on the indices that I'm not sure what to make of any moves. I will have to check the charts again tonight. I'm pretty much sold on getting October puts on the OEX when it hits 610. That is the gameplan for now. I have a training class tomorrow for my day job and will not be able to blog here probably. I expect tomorrow to be an up day. I would be surprised if it wasn't. Mentally I'm trying to hold off this week for any trades until after Labor Day when we should be back to normal. I need to continue the work that needs to be done and stay focused on what needs to be done.
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