Thursday, October 15, 2009
Moving yet higher as the Dow gained 47 points. Advance/declines were about even and the volume was average. Overbought on a short and medium term basis. The summation index is starting to move to the upside. I can't imagine that this can last much longer but I've been wrong all year long. Expiration tomorrow. Gold took a drop today, down $14 even with the dollar a bit weaker. The XAU fell 3 1/4. ABX, GG and NEM all lost around a buck or so one way or the other. Volume was light. The inflation data today was benign which doesn't help the price of gold. It's been quite a run in gold as well. Mentally I'm feeling tired, did not sleep well. No trades on the horizon as I could be done for the year. Possibly breaking through to the upside of long term weekly downtrend lines. I'll need to check the charts. Volume hasn't been anything that great on this rise but you cannot deny the price movement. We'll see how we close out the week.
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