Thursday, November 06, 2008
Continuing to the downside as the Dow dropped 443 points on average volume. Advance/declines were over 5 to 1 negative. Has the volatility returned? Perhaps. Employment report tomorrow and that will be a mover. Which way is the question. I don't know. However I don't believe this is the start of another leg down to new lows. But I could be wrong. Gold lost 10 bucks and the XAU fell 8 points. ABX, GG and NEM were all down around 2 points on good volume. The dollar saw some strength on a flight to safety I'm guessing. I'm laying off gold for now. GE lost about a buck and a half on heavy volume. Tuesday was the day to get out. My calls are back to where I bought them. I'd buy them again here if I didn't already own them. Mentally I'm feeling OK. A bit disappointed that I couldn't do what was necessary earlier in the week but that's my own fault. The battle within goes on. Otherwise just waiting for tomorrow morning and we'll go from there.
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