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Thursday, September 24, 2009

Continuing a bit lower today as the Dow lost 41 points. Advance/declines were 3 to 1 negative and the volume was average. The overall market was weaker than the Dow today and that's a switch from what's been going on. The summation index will now be trending lower. Getting to short term oversold. I'll vote to short the rallies now. The longer term down trend lines look like that they will hold for now. Gold lost $15 today as the dollar showed strength. ABX and NEM had fractional losses, while GG dropped over a buck. Volume was heavy in ABX, average for GG and NEM. I might get some gold share calls next week. Getting oversold on a short term basis. Mentally I'm a bit tired, did not sleep well or long enough. So is the rally over? I think it is but I haven't been on target with much all year. I'm going to let Friday pass and then get some type of game plan for next week.

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