Monday, September 27, 2010
It was a slow day today as the Dow lost 48 points on light volume. Advance/declines were negative. We opened lower, made it back to positive territory and went back down into the close. I have no OEX trades in mind at the moment. We're overbought but that hasn't meant much lately. End of the month on Thursday. We'll get the most economic data on the last couple of days of the week. Gold was flat on the day. The XAU lost 1 1/2. The dollar didn't do much either. ABX fell 1/2, GG off 1/4 and NEM shed 3/4. Volume was light. I still might try the gold share calls if we move to oversold this week on a daily basis. But that remains to be seen. So it's a wait and see game here as well. Mentally I'm feeling OK. There isn't much for me to say here. We broke out on the S&P 500 when we crossed 1130. Unless we are forming a bull trap, the trend is up and we are going higher. The gold market continues in an uptrend. Volume continues light. We'll see what happens Tuesday.
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