Wednesday, April 01, 2009
Continuing higher as we sold off early and roared back with the Dow gaining 152 points on average volume. Advance/declines were 3 to 1 positive. The market is refusing to sell off at this point even with Mondays action. The trend is up for now and should stay that way for the April option cycle. You can't argue with price. Gold was only up a couple bucks but the XAU rose 6 points. Beginning of the month and quarter money perhaps? ABX and GG were up 1 1/2 while NEM continues to lead, up 2 1/2. The only thing lacking was the volume which wasn't that great. But nobody was selling the gold shares here either. So it looks like I missed it again for GG. We are overbought and staying there. I am going to try not to chase the gold shares here but you never know. It is frustrating but you've gotta move on. At this point I suppose I'll just wait for the employment report on Friday. Mentally I'm tired, did not sleep well or enough. I'd like to make some money here but nothing is happening for me at the moment. I will try not to press things here. So what can you do? I'll try and be patient and not do something stupid. But you never know.
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