Friday, November 07, 2008
A bit of a bounce back as the Dow gained 248 points on average volume. Advance/declines were about 2 to 1 positive. Bad news on the employment front and we rallied anyway. Volume was lighter than yesterday though. Summation index still heading higher. Sideways to higher for the market here in my opinion. We just fell about 1000 points in 2 days but I don't think we will be heading much lower. We'll see. Gold was up a couple bucks and the XAU added 3 1/4. ABX, GG and NEM were all higher between 1/2 and 1. Volume was lighter than lately. No trades there. I do own HL which is getting pounded lately. It's a long term hold for me unless they go out of business. GE was up around 1/2 on light volume. The calls I have are where I bought them. I'll be looking to dump them next week hopefully, depending on the price movement. The premiums still are not moving in tandem with the stock price. It's been that way for a while. I still haven't figured that out. Mentally I'm doing OK, could have slept better. Not much else to say here. Not a good week trading, as I didn't do what needed to be done, when it needed to be done. I'm working on it. The weekend has arrived and it's time for a break. I'll check the charts and get ready for Monday.
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