Friday, November 25, 2011
A holiday shortened session couldn't keep the Dow from going lower as we lost another 25 points on the day. The advance/declines were negative and the volume was extremely light. We are very oversold and closed on the low of the week. Not sure how long this keeps up but a bounce is long overdue. GE was flat on the day after being higher early. Volume extremely light. Gold fell over $10 on the futures and the XAU lost 2 1/3. The US dollar had another good day. ABX fell 1/3, GG down 1/2 and NEM lost 3/8. Volume was nothing to speak of. The Gold/XAU ratio is on the cusp of a buy signal. I think that I may try the gold share calls on Monday. I will consider it over the weekend. Mentally I'm still not feeling 100%. I'm going to rest up over the weekend and go from there. I'll check the charts and decide what to do. I'm going to hold on to the GE January calls for a while. I will try and come up with a strategy for the gold share calls if that is what I decide to do. It's the middle of a long holiday weekend and time for a break.
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