Tuesday, December 01, 2009
It was a positive start to the new month as the Dow gained 126 points. Volume was average and the advance/declines were over 3 to 1 positive. The summation index continues to frustrate me as it is moving basically sideways. There's nothing I can do about that. Perhaps I should have realized that the money flow would be coming into the markets. The Dubai event was not sustainable to the downside. It's always easy to look back and say what you should have done. Doesn't matter. The markets keep moving along. Gold had a great day and crossed $1200, up 17 on the day. The XAU rose 9. ABX up 3 1/3, GG up 2 3/4 and NEM up 2. All on heavy volume. Missed that window of opportunity as well. But gold is so overbought at the moment that it can't end well when it does. But who knows? The dollar lost ground again. As oversold as the indicators are in the dollar, they are just as overbought for gold. I don't plan on doing anything there after todays action. Mentally I'm not feeling 100%. Could have slept better. It seems as though I am just waiting for next year at this point. That may not be the best plan of action. However I don't have a good feel for what's going on at the moment. I'm not going to press things. If there's a decent signal one way or the other in the December cycle, I'll act on it. Otherwise I'll wait it out.
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I would like to add you to my blog roll. Let me know.
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