Wednesday, July 18, 2007
The Dow lost 53 points on heavy volume. Advance/declines were negative. We did come back strong in the last hour and we are also now oversold. Perhaps we will get some more buying into the expiration. I don't know. Gold was up $8 and the gold shares took off. ABX skyrocketed 1 3/4 on extremely heavy volume. It never did pull back. NEM was up over a point on heavy volume. There is money coming into the gold shares in a big way. If they ever do take a breather you can go ahead and buy the calls. The XAU has broken out and was up over 5 points. GE lost 20 cents today but was down more then that early. Mentally it's hard to watch the gold shares keep going up but there will be money to be made there regardless. I just have to be patient. The battle is always with yourself.
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