Wednesday, March 04, 2009
A bounce today as the Dow gained 150 points on average volume. Advance/declines were 3 to 1 positive. Does it mean anything? Who knows? We're still oversold but I don't see a lot of buying before the employment report is released. I could be wrong. GE lost another 40 cents on super heavy volume. Does somebody know something? They already cut their dividend. I really doubt GE is going out of business but stranger things have happened I guess. Gold continues lower, off $7. The XAU was flat but higher early on. ABX and GG had fractional losses and NEM had a fractional gain. Volume was average. My ill timed GG calls are worth half as much. Probably should get out soon and that is the plan. I do have a thought of the dollar falling on the employment report and gold rallying. I'm probably going to wait for that. Mentally I'm tired and still not feeling well. It might be best to be on the sidelines here but I'm not. You really need to be up for the job. It's never easy. Where we go from here is anybodies guess. I'd be surprised if the jobs report had any good news. How the market reacts to that will be the key going forward short term.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment