Thursday, June 18, 2009
Well we did have a positive day as the Dow rose 58 points on light volume. Advance/declines were positive. I was really expecting something like a 100 point up day. But we didn't get it. Perhaps it means that the market is weaker than I thought. Summation index pointing down and you can't fight that at the moment. Expiration tomorrow and I suppose anything can happen. We haven't had a lot of volatility though. Gold was off a couple bucks and the XAU lost 2 1/4. ABX, GG and NEM all had fractional losses on light volume. The shares were higher early in the day but sold off. I dumped the GG calls for about an 80% loss. Not a lot of money in that trade thankfully. It was break even for about 30 seconds in the morning and then dropped fast. I blew it once again. Perhaps I was a bit too tired but whatever the excuse my trading has failed lately. The dollar was stronger today but gold itself didn't sell off that much. We'll have to see what that means going forward. Mentally I'm still in a funk. It's been a tough first half of the year and I need to regroup. The markets won't wait for me though. Summer is here and the trading could get pretty slow. I suppose it will give me a chance to get it together for the second half of the year. It won't be easy but it can be done.
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