Tuesday, November 21, 2006
The Dow gained 5 points on good volume. Advance/declines were positive. The overall market was stronger again. We shouldn't see much movement in the next couple of days with Thanksgiving and the volume will dry up. That's what usually happens. Gold was up 6 bucks today and the XAU rose about 5 points. I did not expect that but we were oversold on a daily basis. I'm hoping I haven't missed the beginning of the next upmove but it's possible. The volume wasn't all that heavy. I'm hoping that it was a one day wonder and we will come back down. Time will tell. I'll adjust to what happens here. My emphasis is still to go out until January. But you never know. The gold market gaps a lot so you've got to have some type of idea of what you want to do and then do it. I am looking at a certain level for ABX and when we get there, I'm in. There is also the chance that we get there and just keep on going down also. Time will tell. NEM has a different picture but the play could be there as well. It's all just a guess until we get there. The technicals need to line up daily, weekly and monthly. It seems they do that best with ABX. Mentally I'm tired due to getting up for an early appointment. Luckily there isn't anything really going on tradingwise at the moment. So I'm going to try and relax. The holiday is almost here and the markets should be relatively quiet for the rest of the week.
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