Wednesday, February 17, 2010
Some follow through to the upside as the Dow gained 40 points. Advance/declines were positive and the volume was average. My overnight order for the OEX puts was filled in the morning. They're slightly in the red. This isn't looking like it's going to work right now. I may just have to get out tomorrow and not even wait for Friday. 2 days left and it was a risky deal to begin with. But you never know. I still feel a decent decline will occur Friday. The short term technicals are overbought. We'll see how the overseas markets do tonight. Gold was little changed after yesterdays nice run up. The XAU fell a point. ABX and GG had fractional gains, while NEM had a fractional loss. Volume was pretty good. We are at short term resistance for the gold shares. No trades there for now. Mentally I'm a bit tired, could have slept better. So I'm in a short term OEX trade and it isn't looking good with very little time left. Perhaps I was just looking to make a trade in the February cycle, when maybe I should have passed. That's a possibility. I wouldn't have put the trade on though, if I didn't think it had a chance to work. So we'll see what happens at the open tomorrow and go from there.
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