Thursday, June 28, 2007
The Dow ended down 5 points today on average volume. Advance/declines were positive. When it was all said and done we really didn't resolve anything today. We were up 60 points but couldn't hold on. That's not a good sign. End of the month tomorrow. We'll see if the volume picks up. Next week is a holiday week so I would expect things to remain light on the volume front. Gold was up over $5 today but the XAU was flat. ABX was up about a dime on good volume. I canceled my open order for calls there. If it heads back down I'll probably try again. GE was flat on average volume. I'm looking at the calls before the earnings report due in early July. However there is a lot of premium in the options so this is a trade that will have to set up perfectly for me to take a risk there. Mentally I'm still a bit tentative about what the market is going to do here. The summation index is still pointing down but the McClellan oscillator has turned up. Perhaps we are just going to move sideways and remain in a trading range. That's a guess. Earnings season will begin soon however I have no idea what that will bring. So I'm kind of in a spot where things aren't so clear for me at the moment. I'll just have to remain patient and wait for a decent signal one way or the other. It's all part of the game...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment