Tuesday, October 23, 2007
The Dow jumped 109 points today on good volume. Advance/declines were 2 to 1 positive. We started the day higher, sold off and came all the way back. I doubt we will move in a straight line up here. However I'm not expecting a catastrophic drop as we saw last Friday. I did end up getting some Boeing calls before the earnings tomorrow. It closed unchanged today after moving both up and down. That isn't a good sign with the market up over 100. Technically it looks like a buy so we'll see what happens. I haven't traded this issue before so I may just get out tomorrow one way or the other. Gold was up $3 and the XAU had a good day, up over 5 points. The gold shares really haven't sold off that much but they are trying to. Money continues to flow into this area. ABX was up over 1 1/4 on OK volume. NEM was up over 3/4. The earnings are out in a week. Perhaps I'll try some calls here as well. GE rose 23 cents on light volume. It looks like the $40 level is trying to hold here and perhaps it will. I'm still going to wait on this one though. Mentally I slept pretty good but am still getting distractions from the recent wildfires. Not much I can do about that. You've just got to keep going. We'll see how Boeing reacts to its earnings and take it from there.
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