Friday, November 06, 2009
The Dow gained 17 points today after the employment report. Volume looks to be a bit light again and the advance/declines were about even. The employment report has come and gone. It really didn't do much to the market when all was said and done. The summation index is trying to turn around here. We'll see if it does. Overbought now on a short term basis. Gold continues to the upside gaining another $6. The XAU rose 3 points. ABX and GG gained about a buck. NEM up 1 3/4. Volume was good. The dollar didn't do much. The gold shares are overbought as well but continue higher. I'll try the calls again if we get any type of pullback. Money is flowing there. Mentally I'm a bit tired today. I did have a winning trade this week but it should have been much better. There's still 2 weeks to go on the November options and I'll probably try something else. But you never know. I need to do the work over the weekend and get ready to be focused on next week. My thinking is we will get some type of pullback in the overall market next week and then head higher into the expiration. Barring some unforeseen event. The weekend has arrives and it's time for a break.
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