This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Wednesday, February 14, 2007
The Dow climbed another 87 points today on good volume. Advance/declines were almost 2 to 1 positive. We are breaking out to new highs in the Dow. There are only 2 days left for the options in the OEX. I am thinking about getting some puts tomorrow, if and when we get short term overbought. Although this isn't the best trade in the world, I believe that it could work. Or I might just sit it out. We'll see what the movement is. Gold was up about $4 today and the XAU rose a point. ABX and NEM were both up on good volume. This is the place to be. The dollar fell today after Fed head Big Ben turned into Gentle Ben. I am going to get some March calls on the next pullback. I think we are due for a rest in these issues before the earnings releases next week. We'll see. But gold just continues to move higher and I think the fundamental case for a weaker dollar is now intact and I am sorry I didn't buy in sooner. I also would have made a ton of money if I would have just held on to the ABX calls I purchased earlier. But there is no looking back really because it won't do any good. Mentally, most of my ideas have been right on lately so I am probably going to take a stab at the OEX puts. I also think the longer term is bullish for gold. Of course that could all change tomorrow but I doubt it. So we'll see what happens.
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