Wednesday, February 10, 2010
Kind of a sideways type of day as the Dow lost 20 points. Advance/declines were negative and the volume was light. No clear signal here. If we have weakness going into the end of the week, I may try some calls for anticipated strength at the beginning of next week. But anything can happen. Summation index still pointing down. Gold was flat on the futures and down a bit in the aftermarket. The XAU lost 1/2. ABX, GG and NEM had fractional moves one way or the other on lighter volume. The dollar was higher. I'm not considering any gold share trades at the moment but I'll be looking things over again tonight. Mentally I'm a bit tired again, did not sleep well. I have a couple of scenarios for the overall market going forward from here but none that look solid. It is hard to be patient. I could make a case for getting short if we have strength tomorrow or getting long if we have weakness. 6 days in the February option cycle and a long weekend coming up in the US. I'll look things over tonight and see if I can come up with something worthwhile.
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