This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Monday, September 21, 2009
The Dow lost 41 points today on light volume. Advance/declines were about 2 to 1 negative. No news to speak of really. Waiting for the Fed announcement on Wednesday. No OEX trades on the horizon for me at the moment. I would expect the market to head lower but I've been expecting that for a while. Gold lost $5 today and the XAU dropped 2 points. ABX, GG and NEM all had fractional losses on average volume. They all were off more than a buck early. The dollar gained a bit of ground today. I'd like to get some gold share calls at some point here. Exactly when is the question. A new option cycle has begun so I could just wait it out this week. We'll see. Mentally I'm feeling OK. It's been a pretty slow Monday. The Internet was down here early but I had no open positions, so it wasn't a factor. There is a G-20 meeting this week but those meetings usually have a lot of talk but no real action. I don't expect any revelations from the Fed announcement in a couple of days either. So I guess it's time to be patient and look for something that presents an opportunity. I think it could be in the gold shares if there's a pullback. Time will tell.
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