Thursday, March 18, 2010
The Dow rose 45 points today on average volume. Advance/declines were negative. The overall market was weaker than the Dow. Haven't seen that in quite some time. Perhaps we are finally going to get a pause in this unprecedented run up. Still very overbought and staying there. Expiration Friday tomorrow. New highs have expanded and the advance/decline line continues higher. The trend is up. Gold was up a couple bucks despite dollar strength today. The XAU dropped over a point. ABX, GG and NEM were mixed on light volume. We've been moving sideways here. I think my next trade will be in the gold shares but haven't exactly decided what it will be. There's no rush at the moment. Mentally I'm doing OK, slept well enough. Option expiration tomorrow and we'll roll into the April cycle. Sometimes April has a tendency to be a sideways affair, which would not be conducive to profitable trading. So we'll see. I'm in no hurry to do anything with my confidence being as low as it gets. Plenty of time this year to turn things around. We'll see if I'm capable.
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