This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Friday, November 19, 2010
The Dow closed up 22 points today in light trading. Advance/declines were positive. A pretty quiet option expiration. Volume should continue to slow down next week for Thanksgiving. Summation index still pointing down. I thought about perhaps trying the OEX puts again. I'll mull over this idea during the weekend. I think that perhaps doing nothing is the best choice during next week. GE was up a bit and the volume was nothing special. My January calls are still in the red. I'll consider ending this trade over the weekend as well. Gold was off a touch today as well as the US dollar. The XAU gained 1 1/2. ABX, GG and NEM all had fractional gains on light volume. I'm still in a wait and see mode for the gold shares here. There is seasonal strength going into January. But it's the end of November and I think patience is warranted for now. But who knows? Mentally I'm feeling OK. I don't expect much action next week considering Thanksgiving is on Thursday and Friday will be a shortened session. So it's really time to sit tight I think. That is what I'll try and do. It's the end of the week and time for a rest.
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