Thursday, June 21, 2007
The Dow rose 56 points on good volume. Advance/declines were positive. There was no follow through to the downside and that is constructive going forward. There is some volatility here which is surprising to me. I don't have a good handle on what is going on right now but I am looking for higher prices down the road. GE was pretty much unchanged and I'm hoping it returns to the breakout point. Gold was down over $5 today but the XAU rose 1 1/2. This, I cannot figure out. Perhaps it is still following the overall market. The dollar was higher too. When things don't follow their usual patterns I tend to pull back. ABX was higher and I would really like to get the calls there. But I'm confused as to what is going on here. I think that I will wait until next week to attempt any kind of trade. Mentally I feel fine and got a good nights sleep. I would expect tomorrow to be a slow get away Friday in the summer. But who knows? Trading can be frustrating at times and that is the spot I'm in at the moment. Without a clear idea of what's going on, it's best to step aside. I do want to make a trade for the July cycle but I need a decent signal to get involved. So at this point it's a waiting game...
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