Thursday, March 22, 2007
The Dow was up 14 points on good volume. Advance/declines were positive. We need to take a rest here. Nothing goes straight up forever. I would expect weakness between now and Wednesday according to some indicators I'm looking at. No trades for now on the OEX. Gold was up $4 today and the XAU lost a point. That isn't a good sign for the gold shares usually. My ABX calls are still showing a small profit but perhaps today was the day to dump them. I did want to give this trade some time but we are overbought here and perhaps if I sell the calls I can buy them back in a few days. But I will probably just hang on to them, given that fact that there is still 4 weeks left. I need to see what reports are due out next week. Mentally I'm a bit tired today. Not much else to say here. Kind of a nothing day in the markets. After all the volatility of the recent weeks, sometimes you expect the markets to behave like that all of the time. However times like those are the exceptions really. So we trudge on, waiting for the next idea to take shape. We'll see how we close out the week.
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