Monday, June 25, 2007
Just 5 minutes to go in todays volatile session. We are down about 15 points on what looks like good volume. Advance/declines are 2 to 1 negative. We were up around 130 points and down around 40. There is something going on here but I don't know what. I suspect some hedge fund trouble. I'm on the sidelines until a decent signal appears or I can figure things out. Like I said before it is possible that a double top has formed on the indices. Gold was down a couple bucks today and the XAU dropped 3 points. ABX was down 80 cents and led the gold shares lower. I am still thinking about getting the calls here but might wait to go out to August. We'll see. GE got down to the target of 38 but the calls were just too expensive for me to bite at. It will be interesting to see if GE can hold here. It might possibly be a clue to the overall market. However at this juncture, with the summation index pointing down, the trend is down. The Dow ended down 8 points with the overall market weaker than that. Mentally I'm feeling good with a lot of sleep last night. However the markets are very unpredictable at the moment. Toss in a Fed announcement on Wednesday and the end of the month on Friday. So things are very difficult to figure for me at this time. I do think I will try a trade in here at some point. I just don't know what...
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