This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Monday, March 14, 2011
An interesting Monday here as the Dow lost 51 points on average volume. We were down almost 150 during the day. Advance/declines were 2 to 1 negative. Overseas markets tanked but the Dow held up rather well. We'll see what happens tomorrow. Summation index still heading lower. GE fell almost 1/2 on heavy volume. I did put in an order for the April calls overnight and it was filled. I'm not sure this is a trade I want to be in at this point. However GE made a good comeback during the day as well. The calls recovered to break even. I'll have to ponder the trade this evening. Gold gained $3 today and the XAU lost 3/8. ABX, GG and NEM all had fractional gains on light volume. I also left in an open order for some April ABX calls overnight. It wasn't filled and I canceled it. I am still interested in this trade for later this month. The dollar was weaker today. Mentally I'm doing OK. Expiration week is upon us. There is usually a positive bias. However with global events as they are lately, anything goes. More oversold than overbought here on the stock indices. We'll see what tomorrow brings.
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