Monday, January 10, 2011
The Dow lost 37 points today on average volume. Advance/declines were positive. The overall market was stronger than the Dow. Once again we sold off early, almost down 100 points and came back during the day. The trend remains up even though we have been moving lower the past 3 days on the Dow. No trend lines have been violated. GE gained 8 cents but was higher early in the day. Volume was average. I'll still try the calls again here but it doesn't look like I'll get the chance with only 8 days left in this option cycle. But who knows? Gold was up $5 and the XAU rose 1 1/4. ABX and GG were flat on the day. NEM gained 7/8. Volume was light. The dollar lost a bit of ground today. I still feel the trend is down for the gold shares. No trades one way or the other for now in gold. Mentally I'm feeling tired. I'm in meetings all week and my focus will be compromised. However if the opportunity to trade GE comes along again, I'll give it a try. My posts might be a bit brief this week.
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