Monday, December 13, 2010
The Dow rose 18 points today on average volume. Advances barely beat out declines. The overall market was weaker than the Dow. We won't go up forever and I think tomorrow should start a bit of a decline but I think it will be short lived. If we do pull back tomorrow I will be looking to purchase some OEX calls on weakness Wednesday. That is the idea at the moment. 4 days to go for the December expiration. GE lost a dime and my GE January options lost some ground. Volume was good. I'm holding on to these options at least until the beginning of next year barring an unforeseen collapse. Gold was up $13 and the XAU rose 2 1/3. ABX and NEM gained about 1/2, while GG was flat. Volume was light. The dollar lost ground today. I need to see the gold shares in oversold territory before trying the January calls there. Mentally I'm a bit tired, did not sleep well. If the market cooperates, I'll be trying one more trade for this year. If not it will probably mean the sidelines until a decent signal is generated. It has been a terrible trading year but lately perhaps things are starting to get back to profitability. That remains to be seen though.
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