This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Tuesday, October 07, 2008
The song remains the same as the Dow lost another 508 points on good volume. Advance/declines were 6 to 1 negative. We are probably going to have a decent bounce here in the next 2 days. We are short term oversold. That doesn't mean we can't drop another 500 tomorrow. But a short covering rally at least should be in the cards. Gold was up $20 today but the XAU was 1 1/2 down and closed near the lows of the day. ABX was up 1/2, GG up 1 1/4 but NEM was down 1 3/4. NEM has been leading the way lately. Volume heavy as it has been. GG calls dead for the most part. GE was down a buck on crazy volume. Makes sense in a crazy time. Mentally I'm in a fog as I am ill. Got some kind of cold or flu last night and it has knocked me out. Not really what I need right now but that is the reality of the situation. Short post and I need some rest. Cash is still King.
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