Wednesday, January 12, 2011
The Dow gained 83 points today on average volume. We were higher from the start and stayed there all day. Advance/declines were almost 3 to 1 positive. The trend is up, remains up and there isn't anything else to say. GE gained 4 cents on average volume. That wasn't much considering the positive day that we had. I still may try the calls there before the earnings on expiration Friday. We'll see. Gold gained a buck but the US dollar really took a hit. Gold itself should have had a better upside move. The XAU lost 1/4. ABX and GG were basically flat, while NEM lost 3/8. Volume was light to average. No trades here for now but I'm keeping an eye on the gold shares. Mentally I'm feeling tired. As I said before this isn't the usual market week for me with too many meetings and not enough time for the stock indices. This should be the only week as such this year. On to Thursday and I would expect more of the same, higher prices.
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