Tuesday, November 15, 2011
The Dow closed higher by 17 points today on light volume once again. The advance/declines were positive. The overall market was stronger than the Dow. The pace has slowed down for some reason as the trading for the first 2 days this week has been rather lackluster. That could change at any moment on news though. No OEX trades in mind here at the moment. GE was up 1/8 on light volume. Trying to hold the 50 day moving average line on the daily charts. Succeeding so far. I'm still waiting for an entry point for the January calls. Gold was up $5 on the futures after being lower early. The US dollar had another good day. The XAU was up 1/8. ABX, GG and NEM were all basically flat on the day on very light volume. I'll be looking to get long here once the technicals are oversold. Not close to that happening yet. I will try and remain patient. Mentally I'm feeling OK, slept well enough. 3 days left in the November option cycle. So far this week has been a very light volume affair. I would expect that next week will be holiday slow as well. Like I said before, any news could spike the stock indices one way or the other without any notice. Or we could just meander around waiting for something to happen. The latter seems to be the case so far this week. There is a lot of economic data out this week but so far the markets aren't really paying attention. We still remain hostage to Europe.
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1 comment:
Truly the blogging is spreading its wings rapidly.
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