Thursday, November 02, 2006
The Dow was down 12 points on good volume. Advance/declines were negative. We are short term oversold. I put in an order for OEX calls but it wasn't filled. Employment report tomorrow. I may try and get long any weakness in the morning. I think this is a short term opportunity and a good one. Gold was up 8 bucks and the XAU was only up about a half a point. We have run into resistance here for the XAU. I think it will break through eventually but not just yet. Gold has rallied strong this week but the gold shares seemed to move in advance of it. I do want to get long there though. Mentally I just got back from the dentist so my mind is clouded by that. I think a trade is here, it's a matter of if I can get it in the morning. We'll see.
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