Monday, November 10, 2008
Opened higher and closed lower to start out the week. The Dow lost 73 points on light volume. Advance/declines were 2 to 1 negative. We opened up a couple of hundred points but that was it for the upside. Getting to the point of short term oversold soon. Tomorrow is a bank holiday so the volume should be light again. Getting back to normal on Wednesday is my guess. The tone in the market is negative again. I do expect a decent upside move at some point this week. Gold was up $12 today and the XAU rose 4 points. ABX, GG and NEM were all up around a buck on average volume. HL didn't do much again. No plays in gold at the moment. GE lost 40 cents on light volume. The calls I own are under water. I should be dumping them at some point this week if my brain is working properly. This is a trade that should be over. Mentally I'm not feeling well and it takes away from what I need to do here. I've got another cold and I'm far from 100% health wise. But the markets move on. I did have one of my orders filled for one of the stocks that I was watching. I now own some THC. It's a healthcare play and a long term hold for now. I'm looking at some alternative energy plays as well as another healthcare firm. We'll see. Not much else for today, I'm going to try and get some rest.
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