Tuesday, November 11, 2008
Lower from the start today as the Dow dropped 176 points. Volume was low again. The advance/declines were over 4 to 1 negative. The summation index may be stalling here but I don't think it's anything to worry about. Oversold for sure at this point. I still think we are base building. I do not expect a break of the recent lows but I could be wrong. Partial holiday today so we'll see what happens tomorrow. Gold lost the $12 it gained yesterday. The XAU fell 5 1/2 points. ABX, GG and NEM all fell over a buck but the volume was light. I'm not looking at doing anything there at the moment. GE lost 60 cents on good volume. My calls are in the red and staying there. They might make it back to break even. It depends on how the week plays out. I'm not holding on forever here though. This trade was already done wrong. Mentally I'm tired and still not feeling OK. Making the best of it. I bought another stock for a longer term hold today, EMKR. This is an alternative energy play. They have a patented solar technology that is more cost effective for commercial use. Could have gotten it cheaper, as it fell apart today but what can you do? We'll see where it goes. Otherwise I'm going to try and get some rest. I would expect to start to head higher here, near term.
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