This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
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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