Monday, April 02, 2007
The Dow was up 28 points on average volume. Advance/declines were positive. I think we will be going higher here in the short term, perhaps to challenge the recent highs. I don't think this is the start of anything other than that. As I have said before I think we are in a trading range and that sideways is the best we can hope for here. Gold was moving all over today and ended up a couple bucks. The XAU gained over 2 points which was encouraging. But ABX was only up a quarter and gold is selling off in the aftermarket. I really think I need to dump those options at a loss this week and preferably before Thursday. Unless we get some type of rally before the long weekend. But that's just wishful thinking. Mentally I'm feeling OK. This losing trade is weighing me down somewhat. I just need to do the right thing and move on. I was looking at some GE calls today. I'm thinking we will be going higher and GE will join in. But the technicals aren't in the ideal situation for going long so I'll probably just sit it out until next week. But you never know...
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