Thursday, December 09, 2010
The Dow lost a couple of points on good volume as the market refuses to go down. Advance/declines were positive. We are the most overbought as we have been in the entire year. Yet there is no decline. The overall market was stronger than the Dow today. If we get a pullback, I'll be looking at the OEX calls. GE gained a few cents on light volume. My January calls are still in the black. I'm holding on for now. Gold gained $9 on the futures as the dollar gained a touch. The XAU was up 1 3/4. ABX up 3/8, with GG up 3/4. NEM fell 1/2. Volume was mixed. I'd like to see some sideways action in the gold shares before purchasing some January calls. We'll see what happens. Mentally I'm feeling OK. 6 days to go for the December option expiration. I'll try the OEX calls if things work out as I would like. Otherwise I'll have to sit it out. Things should really slow down after next week due to the holidays and the end of the year. So we'll see what happens tomorrow and take it from there.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment