Thursday, February 25, 2010
Volatility is back as the Dow opened lower by 175 points and ended the day down 53. Volume was average and the advance/declines were negative. The overall market was stronger than the Dow which bodes well for the bullish cause going forward. Europe is going in the tank, supposedly causing todays market gyrations. I'm leaning towards the upside but have no trades at the moment. It could be a sideways affair as well, I'm just not convinced one way or the other. Gold was up $11 and the XAU rose 4 1/2 on safe haven buying. ABX up 3/4, GG up over a buck and NEM rose 2 1/2, all on better volume. NEM had a good earnings report. GG is the only one of the big 3 left to report earnings and that's in 2 weeks. Is that an opportunity to get some calls before the report? Who knows? The dollar was higher early and then sold off some. No gold share trades for now. Mentally I'm a bit tired, did not sleep well. End of the month trades tomorrow and we'll move on from there. I don't have anything in the works but I am leaning towards getting some OEX calls. Not a clear signal as yet though. Patience for now.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment