Tuesday, June 26, 2007
The Dow lost 14 points today on heavy volume. Advance/declines were about 2 to 1 negative. We were higher again today but could not hold the gains. There is liquidation going on. The overall market was weaker than the Dow again. We might get a buy signal in a couple days if the weakness continues. We will have to get through the Fed announcement tomorrow first. Gold got hammered, down almost 10 bucks today. The XAU dropped another 3 1/2 points. ABX was down again on heavy volume. I suppose I'm glad I held off on the July calls but I am about to try and buy the August calls. When nobody else wants something, that's when I want to buy it. I'm going to put in a limit order. GE is still holding around $38 but the calls are still expensive. I'll keep an eye on them. Mentally I'm a bit tired, not a good nights sleep. The market is acting different here also and that weighs on my mind. Another thing that troubles me is that gold could really be breaking down now and then buying any of the calls won't work. But you have to take some risk to make some gain sometimes. The technicals there are oversold also. So we'll see what happens...
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