Wednesday, December 30, 2009
Another day of the blahs as the Dow gained 3 points. Advance/declines were negative and the volume was extremely light. The market tried to sell off but came back. I really think we need to see some downside tomorrow or we will be starting out the new year lower. That's my guess. We'll get through tomorrow and go from there. Gold dropped $5 and the XAU fell 1 1/3. ABX, GG and NEM all had fractional losses on light volume. My ABX calls are now in the red. Looks like I'll hang on until next year unless they get stopped out tomorrow. Obviously, I should have dumped them earlier and then bought them back if I wanted to try it again. This trade still could work but it isn't looking promising at this point. Mentally I'm feeling tired, did not sleep enough. Almost done with 2009 and it was a terrible trading year for me. I'll get the final details out tomorrow. Otherwise the market just isn't working off the overbought condition as it should. The break to new recovery highs has been on anemic volume. It isn't a positive at this point. On to the final trading day for 2009.
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