Tuesday, June 09, 2009
Another day of indecision as the Dow lost a point on light volume. Advance/declines were positive. The overall market was stronger than the Dow. It appears the summer doldrums are upon us. The volume is lackluster at best. The lack of movement has killed my OEX puts. I should say lack of movement to the downside. I'm giving them until tomorrow and if we don't see something after the Fed minutes then I'm out for a loss. Gold was up a couple bucks and the XAU was flat. The dollar had a bad day but gold didn't move which could signal a change in perceptions here. ABX and GG were off about 1/2 while NEM was up 1/3. Volume light here as well. Nothing doing for gold for me now. I'm going to wait a while. I still like the gold shares again at some point. Mentally I'm doing OK. Could have slept more. Had computer issues today and that didn't help. Website specific problems. So it looks like another losing trade here and that's just the way it goes. 8 days until expiration and if I get out of this trade perhaps I'll try another. Loads of data out next week. Of course the risk ramps up as well. We'll see what happens tomorrow and take it from there.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment