This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Wednesday, July 21, 2010
The Dow lost 109 points today on average volume. Advance/declines were 2 to 1 negative. The market moved lower on Bernankes blabbering. That's about the only reason I can find. That doesn't mean we can't just go lower here. However the summation index remains to the upside. I'm still thinking sideways to higher for a while but I could be wrong. Gold was flat on the futures and down in the aftermarket. ABX and GG had fractional losses, while NEM fell 7/8. Volume was light as it has been lately and probably will be this summer. The XAU dropped 1/3. I'm still leaving in the open order for the August ABX calls. If it isn't filled before the earnings announcement, I'll cancel it. Mentally I'm tired today and it has been a long day. More of the same tomorrow. We'll see if there is any follow through to todays negative action.
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