Pageviews past week

Monday, July 15, 2013

;;;

Still problems with the blog site.  The Dow rose 20 points today on very light volume.  The advance/declines were positive.  I placed an open order for some OEX puts at the price I was willing to pay but it wasn't filled.  It's probably too late for this trade now but if we get some early strength tomorrow perhaps I'll try it again.  Only 4 days to go in the July option cycle.  We are very overbought both short and medium term and there will be some downside this week in my opinion.  You'll have to be nimble to make this trade work.  The summation index continues higher.  The small stocks continue to lead the way.  GE was off a few cents on average volume.  Still time here to go either way on the earnings report Friday.  I'll most likely just step aside.  Gold gained 5 bucks on the futures as the US dollar showed a slight upside bias.  The XAU was flat on the session.  ABX, GG and NEM all barely moved on very light volume.  My October ABX calls are still in the black.  Some inflation data out here tomorrow and Bernanke blabs on Wednesday.  Perhaps these events will move gold.  Mentally I'm feeling OK.  I would have liked to have gotten the OEX puts today but it was not to be.  The light volume upside continues and it has lasted long enough without some type of profit taking or downside.  So we'll see.  Today was your typical summer Monday.  Gold needs some type of catalyst here for higher prices but it is still out of favor.  I do believe the ABX calls I own have a chance to be a profitable trade though.  I may have to sell them and then try and buy them back.  But that's a guess as usual.  We'll see what happens overnight and go from there.

No comments: