Wednesday, December 26, 2007
Another slow day in the markets as the Dow gained 2 points on light volume. Advance/declines were about even. It's a holiday week. We are overbought. I don't expect much one way or the other. Gold had a good day up $13. The XAU rose almost 4 points. ABX and NEM were both up around 50 cents on light volume. Perhaps a sustained move is beginning in the gold shares. The volume is lacking though. I'm on the sidelines but am ready to get long there. Might have missed the signal though. GE was flat on light volume. I'm debating on whether to book the loss this year or see if we get some upward movement in the beginning of next year. There's also the earnings coming out in the 2nd week of January. Probably should just dump it and start the New Year fresh. We'll see. Mentally I'm a bit tired as I did not get a good nights sleep. I'm also trying to take it easy since things are so slow this time of the year. I'm trying but there is always some work that needs to be done. Saw a lot of volume in the GE January calls today for whatever reason. Interesting...
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