Monday, November 22, 2010
The Dow lost 25 points today on light volume. Advance/declines were even. We were down about 140 during the day but slowly came back. The overall market was stronger that the Dow. The summation index remains in a down trend. I placed an open order overnight for some OEX puts but it wasn't filled. I canceled the order during the day. Not sure if I will try that again this week but we'll see. The market is making up its mind where to go. GE lost 19 cents and my January calls keep losing ground. I may have to bail out of this sooner than I thought. Plenty of time but the price action isn't positive. Gold gained $5 and another $10 in the aftermarket. The XAU rose 2 1/3. ABX, GG and NEM all had fractional gains on light volume. The dollar gained some ground today but it did not affect the price of gold. No trades here for now. We are moving up from oversold on the technicals for gold. Mentally I'm a bit tired, did not sleep as much as I wanted. Short week and I should probably stay on the sidelines. I'll check things over tonight and go from there.
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