Monday, November 27, 2006
My computer crashed over the weekend and I am on a backup computer. It is older and slower but the show must go on until I can get the newer one fixed. The Dow lost 158 points on good volume. Advance/declines were over 4 to 1 negative. We got oversold pretty quick. The markets continue to be interesting. The dollar got clobbered again today and that could be part of the reason. WalMart reported weaker sales and that is another excuse. We will now be pointing down on the summation index as a sell signal. We are oversold and a bounce would not be a surprise. How good that bounce is will tell a lot. I'm in a wait and see mode for the OEX. Gold was up another couple bucks and I expected the gold shares to soar but they didn't. The XAU was up a half a point. I still want to get some calls on ABX or NEM here. But I will wait to see what happens. We should have moved higher here for the gold shares but there wasn't a lot of interest. I don't know what that means but we'll see. With the dollar in a freefall here I would expect money to flow into gold but it hasn't happened in a big way just yet. Perhaps I will go out to January as I wanted to do. We'll see. Mentally I'm a bit thrown off with the computer problems. At least I was prepared with a back-up but it isn't as good as the normal computer. It will do for now though. You've sometimes got to make adjustments. This is important in trading and the mechanics of exactly what you are trying to do. It isn't an easy game. But you've got to roll with what happens and keep on trying. There is a lot of data coming out tomorrow so it could get interesting. I will try and come up with some type of plan for tomorrow and the December cycle. But really my thoughts at the moment are a little scattered and I need to work on that...
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