Friday, December 19, 2008
Expiration Friday as the Dow lost 25 points on good volume. Advance/declines were positive. Once again the breadth has held up here and portends higher prices ahead. So we'll see. The overall market was stronger than the Dow also. Summation index still rising. I am still looking for calls. Gold futures lost $20 but the XAU rose almost 2 points. ABX and GG had fractional gains while NEM rose almost a buck. The dollar was much stronger today as volatility has returned to the dollar index. I still like the gold share calls for January here at some point. GE was up 40 cents on pretty good volume. There was no downside follow through for GE and that's a plus. I did put an order in for January calls but it wasn't filled. Perhaps on Monday I'll try again. However there is always a possibility that we move sideways. Mentally I'm doing OK. It's holiday time for the markets and it's been quite a year. My thinking is that things will slow down for the next couple of weeks. I still want to get positioned for the beginning of next year. That is the dilemma. So I'll see how it goes. For now it's the weekend. Check of the charts of course and attempt to come up with a game plan for next week. I really need to work on the focus and concentration aspects of what I'm doing. If I can manage that then I think everything else will fall into place. Time for a break.
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