This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Thursday, December 21, 2006
The Dow lost 42 points today on light volume. Advance/declines were negative. One more day before the holiday weekend and I don't expect too much. Should start a holiday rally sometime next week. Gold was down around 3 bucks and the XAU lost about 2 1/2 points. Light volume there as well. Again as I've said, we're just marking time. On a bigger picture, yesterday the price of copper breached $3 to the downside. This was one of my benchmarks for the overall world economy. We should expect a slowdown to accelerate now. I expect that worldwide GDP will lessen as we go forward. That doesn't mean inflation will be gone, just that I expect growth will be less. That will impact profits and eventually market prices. It also should lead to a stop in interest rate increases or perhaps some rate declines. That is my big picture scenario at this time. I was wrong last year on my market call and that's something I won't forget. But you gotta just keep moving on. Anyway this years trading resulted in a net loss of a little less than 3%. It wasn't a good year. I sustained my highest single trade loss ever. That will not happen again. My win % was terrible too. There are things that I need to work on and I am getting to that as soon as possible. But for now it's time to wind down and relax for a few days. The holidays are here.
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